FAQs

Q: Who should drive the Net Promoter® process in our credit union?

A: Traditionally, a program like this would fall under the realm of market research. There are surveys, data is collected, reports are generated, but Net Promoter is different. A true Net Promoter process focuses on collecting member feedback and taking action on it. Members will be giving you feedback on how you can improve the credit union and member experience, so it’s important to get this information right into the hands of the folks that are best able to take action on it.

Similar to accounting, net promoter becomes a discipline in the organization and depending on the size of the organization, warrants its own department. You should never stop measuring and managing member experience.

Q: How often should we send surveys? How many times should a single member receive a survey?

A: Successful Net Promoter programs collect member feedback in two ways:

Typically, overall relationship feedback is collected from a random sampling of all members on a quarterly basis. This could also be done semi-annually or annually for those on a tight budget or with a small number of members.Feedback should also be collected as soon as possible after key interactions, such as: a member joining the credit union, a member opening a new car loan, a call to the call center to transfer money, a visit to a branch to make a deposit, etc. A good rule of thumb is to ask an individual member for their feedback no more than once per quarter.

Q: If a member scores us as a detractor (0-6) and their reason is “they no longer live in the area” are they really a detractor?

A: Well, yes. Our thinking is that if they were crazy loyal, they would still score you a 9 or 10 with the caveat that although they no longer live in the area, they would still recommend if they could.

Q: What’s a good score? What’s the credit union average?

A: Member Loyalty Group provides a quarterly benchmark study for its members. You can see the latest score here. Caution: Do not become a score watcher! Remember, the score is what it is, but what members say, and how we react to what they say is the real reason for asking the question.

Net Promoter, Net Promoter Score, and NPS are trademarks of Satmetrix Systems, Inc., Bain & Company, Inc., and Fred Reichheld.