Our unique, disciplined data collection methods ensure that your credit union is getting significant and relevant information – in fact we often hear clients say that our loyalty metrics can stand beside their financial statements as an accurate measure of organization-wide performance.
Data Drives Performance
Access to immediate member feedback is a powerful tool. With our program you can take that data further using industry benchmarks to gauge just how member-centric your organization really is. Once you know that, you can focus your efforts on boosting your scores and overall member loyalty.
Here’s How It Works
While we can’t give away all our secrets, we can give you a rundown of a typical scenario.
1. The Member speaks. Their feedback, gathered through our surveys via the web, phone and paper is mingled with customer segmentation and open-ended feedback.
2. The system listens. All of that valuable member data is then run through a loyalty analysis matrix, including an analysis of the member experience, expectations and relationship with your credit union. This includes: new members, new product additions, contact center calls, remote channels such as online banking, and physical branch visits.
3. Results are analyzed and benchmarked. Your score is benchmarked against all the other credit unions in the system. Members are put into one of three categories: Promoters (those who are loyal enthusiasts and will keep buying and refer others no matter what), Passives (satisfied yet unenthusiastic members who will leave tomorrow for a better deal somewhere else), and Detractors (those unhappy customers who damage your brand and impede growth).
4. Actionable information is provided where it is needed. What comes out of all that number crunching and listening is immediate, honest feedback and results pushed out to desktops all over your credit union, to anyone from the CEO and CFO to the entire management team. Even the front line managers can be kept updated if you wish. After all, they are the ones who can make quick changes to boost member loyalty and satisfaction.
Contact us today to learn more about how the Member Loyalty Group can help your credit union.