Tailoring Superannuation Digital Experiences for Small to Medium Enterprises (SMEs) and Their Employees

Unlocking the SME Opportunity in Superannuation

Small to Medium Enterprises (SMEs) are the backbone of the Australian economy, representing nearly 98% of all businesses and contributing a third of the nation’s GDP. Yet, when it comes to superannuation, SMEs and their employees are often underserved by generic, one-size-fits-all offerings. As the business banking and superannuation landscape evolves, there is a growing imperative for funds to move beyond rebadged retail products and deliver tailored, digital-first solutions that address the unique needs of SME owners and their teams.

Understanding the Unique Needs and Challenges of SMEs

SMEs face a distinct set of challenges in engaging with superannuation funds:

Resource Constraints: SME owners and administrators often juggle multiple roles, leaving little time for complex onboarding or ongoing super management.
Tailored Support: Unlike large corporates, SMEs require more hands-on, business-centric support—especially as they navigate regulatory changes and workforce needs.
Seamless Onboarding: Both employers and employees expect frictionless digital onboarding, with clear guidance and minimal paperwork.
Personalisation: Generic communications and offerings fail to resonate; SMEs want experiences and information that reflect their business context and workforce diversity.

Recent business banking research reinforces these points: while SMEs are generally satisfied with their banking and superannuation services, a significant portion are only ‘somewhat positive’ about their provider, and few cite technology and innovation as key reasons for their choice. This signals a substantial opportunity for funds to stand out by delivering more relevant, digitally enabled experiences.

The DMX Framework: A Blueprint for SME Engagement

The Superannuation Digital Member Experience (DMX) framework, developed by Publicis Sapient in partnership with Adobe, provides a robust foundation for reimagining the SME business member journey. The DMX framework benchmarks the quality of member interactions across the entire lifecycle—from first impressions to long-term loyalty—and pinpoints where funds can accelerate their experience improvement programs for rapid business impact.

Five Key Opportunities for SME-Focused Superannuation

Lift Brand Awareness: Many SMEs are unaware of the full range of services and support their super fund can offer. Proactive, targeted outreach—using data-driven insights—can help funds become trusted partners, not just service providers.
Strengthen Data Foundations: Building robust data capabilities enables more precise targeting and segmentation. For SMEs, this means communications and offers that are relevant to their business size, industry, and workforce demographics.
Scale Up Personalisation: Move beyond generic messaging. Use dynamic content and micro-segmentation to deliver tailored onboarding, compliance updates, and educational resources that speak directly to SME pain points and aspirations.
Make Applications Seamless: Reimagine onboarding and support processes to be digital-first, intuitive, and fast. For SMEs, this could mean guided digital onboarding for both employers and employees, real-time support, and easy integration with payroll systems.
Find New Member Pain Relievers: Expand the value proposition with services that address SME-specific challenges—such as compliance tools, workforce education, or business succession planning. By reframing the offering, funds can turn apathy into loyalty.

Actionable Strategies for Funds

To differentiate and drive loyalty in the SME segment, superannuation funds should consider:

Investing in Digital Onboarding: Streamline the employer and employee sign-up process with guided digital journeys, reducing friction and administrative burden. Human-centred design and intuitive interfaces can help SMEs onboard quickly, regardless of their digital literacy.
Personalised Business Support: Offer dedicated SME support teams, tailored content, and proactive outreach to help business owners navigate regulatory changes and optimise their super strategies. This could include business-specific webinars, compliance checklists, and regular updates on legislative changes.
Integrated Digital Platforms: Enable seamless integration with business banking, payroll, and HR systems, creating a unified experience for SME administrators. This not only reduces manual data entry and errors but also ensures compliance and timely contributions.
Continuous Engagement: Use data and analytics to deliver timely nudges, next-best actions, and educational content that keeps both employers and employees engaged throughout their super journey. For example, automated reminders for compliance deadlines, or personalised insights into workforce retirement readiness.
Security and Trust: Address rising concerns around digital security by providing robust, transparent protections and clear guidance in the event of cyber incidents. Building trust is essential, especially as SMEs become more reliant on digital channels.

Adapting the DMX Framework for SMEs

The DMX framework’s core pillars—Attract, Engage, Convert, and Retain—can be adapted to benchmark and improve SME-specific journeys:

Attract: Build brand awareness through targeted campaigns that highlight business-relevant value propositions and success stories from similar SMEs.
Engage: Deliver business-centric content, compliance support, and digital self-service tools that empower SME owners and administrators.
Convert: Make applications seamless with digital-first onboarding, clear guidance, and integration with payroll and HR systems.
Retain: Foster loyalty through ongoing education, proactive support, and personalised communications that address evolving business needs.

The Path Forward: From Apathy to Advocacy

The SME market is at a tipping point. As competition intensifies and new entrants challenge the status quo, superannuation funds that put the business member experience at the heart of their strategy will be best positioned to win loyalty and drive growth. By adapting the DMX framework to the unique context of SMEs—focusing on personalisation, seamless digital experiences, and proactive support—funds can transform disengaged business members into passionate advocates.

Publicis Sapient’s expertise in financial services and digital transformation, combined with deep insights into the SME landscape, positions us to help superannuation funds unlock this critical opportunity. The future of super for SMEs is digital, differentiated, and designed around the real needs of Australia’s business community.

Ready to transform your SME member experience?
Contact Publicis Sapient to discover how the DMX framework can help your fund stand out and deliver enduring value to business owners and their teams.