Dump Member Service
by: Tim Bunch, Web Designer – Social Media Specialist, CapEd FCU
Member Service is what we, the Credit Union, provide to our members. We greet them with a smile. We help them sort out their problems. We even chat with them about their kids and grandkids. It’s all part of Member Service. I like to think we do a pretty good job at it. I’m not suggesting we quit doing those things. However, it’s time to shake things up.
Let’s get rid of the Member Service mantra. Stop using it as the baseline for relational success with our members.
3 Big Problems with Member Service as a Measure
- It is a measure of our own self-centered performance
- Accurate measurements are often spotty and unreliable
- It does not measure the impact of our products and services
Self-Centered Performance
This is huge. It is easy to allow our own performance to become the focal point. Our own performance is critical. But don’t allow it to become the driving factor. Member Service can easily become a synonym for Employee Performance.
A Broken Measuring Stick
Comment cards, mailers, secret shoppers, and social media are all tools of the trade now. We use these to see if we measure up. However, most people leave their financial institution silently. They don’t complain, fill out a “Why I’m Leaving” survey, or talk to a manager. They’re just gone. Many more will, in essence, leave while retaining a service or two with the Credit Union. They just won’t do any further business with you.
An Incomplete Truth
Member Service does not take into account the impact of the Credit Union’s products and services. An employee can deliver outstanding service to a member once a week or more. However, that member lives everyday with your products, services and tasks associated with them. How are they really doing?
Build A Better Mouse Trap: Member Experience
We are building the Member Experience around every product, service, task, and interaction. Everything that the member experiences in relation to the Credit Union is important. They may call a branch or look at a transaction online. They may be mailing in a loan coupon or filling out a loan application at a car dealership. The Member Experience is made up of every interaction a member has with your brand. And remember, it’s their experience that matters, not your performance.
Move Beyond Asking People How Their Branch Visit Was
In order to move beyond the status quo, we have to gather more information. We need a system in place to gather and analyze Member Experience data.
Clues to finding things we need to improve often come from painful pressure points. We need to identify some areas that may be difficult for members:
- Misunderstood Policies and Procedures
- Product Details and Requirements
- Online Frustrations (Banking, Loan Apps, Messaging, etc.)
Clues to discovering our successes often come from areas of growth.
- A Product That Grows Faster Than Others
- A Branch That Opens More Accounts
- A Task That is Completed More Often
A lot of trouble also comes from the middle ground. Silence is a telltale sign of poor Member Experience. Living things grow. So be on the lookout for things that just don’t show any signs of growth. They may be dead products, an unhealthy company culture, or something worse.
The Power of Focus Groups and Research
Credit Unions are perfect for gathering a group of people willing to participate. You can even create segments from focus groups, such as a youth council. Use the information you gather to enhance and assist with guiding your product offerings, policies, and marketing.
All to often, employees or a board make choices without ever hearing from the membership base. Members are willing to provide their two cents, if given the chance. Take the information they give you and make an informed decision. Your members will love you for it, and your Credit Union will grow because of it.
In Summary
Perhaps you already take into account the whole Member Experience. Or maybe your Credit Union has only been focused on Member Service. Either way, I hope this article helps you to think beyond the norm and outside of the box. What ways can you come up with that could measure the Member Experience?
Tim Bunch is a Web Designer and Social Media Specialist at CapEd FCU from Boise, Idaho. As a web standards fanatic, he passionately pursues best practices in web design. He also actively engages people on a wide range of topics in a variety of social media networks. Tim is also an avid WordPress developer, music maker, coffee drinker, and child raiser. www.capedfcu.org
