06 September 2011
Prior to launching MyCarBudget we undertook considerable research into who our target audience would potentially be. Market research helps, but it isn't always reality.
Having spent 3 days in Gladstone, Brisbane last week presenting to employees at Queensland Alumina, I developed a reasonable understanding about what employees see in a car related benefit like MyCarBudget.
Queensland Alumina doesn't offer Novated Leasing to all employees. However being in the mining sector, salaries are are pretty good. Being in a semi remote part of Australia, cars are also a very important pass time and possession for most people (males and females).
The interest shown in this employee benefits program by employees at QAL was significant. I mean if we could have run more presentations we would have filled the places. This is what employees saw in the program that attracted them to attend:
- The monthly fee was paid by QAL, so as far as they were concerned it was a real benefit and fee free.
- Employees spent money on cars and most people had more than one. They were all aware of how much they spent and so MyCarBudget meant they didn't need to worry about the big bills any more. Interestingly this appealed to older as well as younger drivers.
- Free Roadside was also a big plus. Whilst some employees where already paying for their Roadside, many weren't. Many were younger employees. Others where signing up for their young adult children and/or spouses.
- Others had large bills due at Christmas and saw an opportunity to meet these expenses without using the credit card or forgoing some personal reward for the year that has passed.
- The really interesting thing about offering such a benefit to a company like QAL was that once a few of the employees saw the real rewards in it, they began to convince each other that it was a good idea and that they should sign up. This is really the goal of every employee benefits program, make it good enough that it sells itself.