Fisher Funds KiwiSaver Boost Campaign


The Story

In 2021, as part of the seven year review cycle, the Government announced a reduction in the number of Financial Services organisations that could provide Default KiwiSaver accounts. Fisher Funds were one of five organisations that would no longer be a Default KiwiSaver provider. Whilst they were disappointed, they were also confident that their award winning KiwiSaver services would continue to help their customers save and plan for amazing futures.

So Fisher Funds embarked on a mission to let their Default KiwiSaver customers know about these changes. They wanted to ensure they had the opportunity to choose to stay with Fisher Funds before they were randomly allocated to a new Default provider, and also let customers know how making this choice could set them up for a lifetime of smarter savings.


The Audience

The total base of Default customers was just over 41k with KiwiSaver funds of $481m. 11% of that base held 53% of the at risk funds.


The Goals

  • Programme Goals:
    • Retain $100m of at risk funds
  • Journey Goals:
    • Retain 1.6k customers
    • Retain $30m of at risk funds


The Solution

Fisher Funds devised a strategy based on data and insights about their default KiwiSaver audience. A personal contact approach was employed to reach the very high value customers, but that approach was not scalable across the whole base – which is where Salesforce Marketing Cloud came in. worked with the FIsher Funds Marketing team to create a personalised multi-channel journey in Marketing Cloud using email, SMS and a personalised landing page form. The journey was designed to inform customers about these important changes and direct them to a secure landing page where they could choose what they wanted to do with their KiwiSaver account. A form completion automatically triggered a case in Salesforce Service Cloud which a member of the Client Services team could then action for the customer – easy!

As a little extra incentive, customers who took action by 30 September 2021 were entered into a prize draw to win one of five $1,000 cash prizes.


The Results

The campaign was a resounding success with over 2,000 customers retained – 5% of the total base and over 10% of those contacted – smashing the target of 1,600 customers.

Funds retained was also well above target at $38m – 8% of funds at risk and 126% of target. And whilst 2,205 customers could be directly attributed to the campaign, many more contacted the Fisher Funds team via phone and email leading to an impressive halo effect that saw $140m of funds retained – a massive 40% above target!