Sometimes we need to take a step back and look at the big picture. What drives credit unions to exist? What makes them successful? The answer is not a what. It’s a who. Your members are at the core of your existence and taking care to meet their needs is essential. Let’s take a look at a recent post from CUTimes.com on “5 Ways to Improve the Member Journey.” In this tech heavy world we operate in, it’s important to remember that, “While technology definitely matters, any app, tablet, responsive design, drone or smart watch on its own is only as effective as the foundational elements that enable the technology to be effective.” Here is an exerpt of the article and research conducted by Filene:
The stats speak for themselves, as 87% of American adults are online, and 64% of American adults now own a smartphone of some kind. It’s no secret that credit unions should be focusing on mobile apps and providing an online banking experience for optimal member satisfaction.
So to help take care of your members and meet their needs, these five elements will be helpful to keep in mind when planning for your credit union member services business goals for 2016.
- Benchmark the member experience. Choose a metric or a series of metrics such as Net Promoter, the Wallet Allocation Rule, the Member Effort Score or even simply member satisfaction. Measure the current experience to benchmark where you stand through your members’ eyes today. If you have a benchmark in place, consider adding elements to make that metric stronger. For example, if you are currently using Net Promoter, consider adding the Wallet Allocation Rule process.
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