Member Loyalty Group’s credit union industry New Member Experience benchmark reached a new high in Q2 2019. According to the quarterly report, the average New Member Experience NPS® is now 74.40, up from last quarter’s previous high of 74.09. A positive experience when becoming a member can go a long way toward creating long-term member […]
After collecting over 5 million member surveys in the past 11 years for more than 125 credit unions, Member Loyalty Group has gained key insights about the link between Member Experience programs based on loyalty scores and financial performance. The latest data shows a clear correlation between loyalty scores and higher ROA as you compare […]
Comment coding is a huge challenge for most organizations today. It’s time consuming, labor intensive, and expensive. For these reasons and more, Member Loyalty Group launched Automated Comment Coding. According to Member Loyalty Group Chief Program Officer Jake Foreman, this automated tagging service allows credit unions to quickly and accurately gain an abundance of knowledge […]
Member Loyalty Group’s credit union industry New Member Experience benchmark reached a new high in Q1 2019. According to the quarterly report, the average New Member Experience NPS® is now 74.09. So what’s fueling the upward trend in new member experience? We posed this question to Elevations Credit Union of Boulder, CO as they’ve seen […]
Have you ever wondered what the ROI is of your credit union’s Member Experience Program? Or, if there is a link between major investments in member experience and financial results? Having collected over 5 million member surveys in the past 10 years for more than 100 credit unions, Member Loyalty Group has gained some insights […]
By Michelle Bloedorn, CEO of Member Loyalty Group This blog was originally published on membersdevelopment.com Almost every day I read about a new, “perfect” measure that will be the “North Star” to use toward understanding our members—to make them happy, loyal, and profitable. You may have heard of some of these: satisfaction, net promoter, member […]
By Michelle Bloedorn, CEO of Member Loyalty Group People often ask us what really drives member loyalty. After collecting 5 million member feedback surveys on behalf of our participating credit unions, we’ve learned that there are three key factors that help drive loyalty. As you can see in the chart below, the three key drivers […]
Every year at planning time, we receive numerous phone calls from participants and non-participants with questions about setting goals for their Member Experience Program and Loyalty or Net Promoter Score.
Data shows that credit unions with true member loyalty enjoy higher net income, lower costs and faster growth than credit unions with less loyal, engaged members.
In customer experience programs that utilize the Net Promoter methodology, this process of following up with detractors, or customers who indicate they are not likely to recommend a company, is no exception