Increasing member touchpoints under the urgency of the pandemic
Having more ways to connect can accommodate the needs of different members, helping to strengthen existing relationships and even foster new ones.
Strong branch and phone support were historically the key components to building member relationships, and they’re still a staple in many communities today. However, the pandemic changed everything, challenging credit unions to think bigger and expedite future plans.
Members have always wanted technology, convenience and speed; credit unions have been considering such advances in their five-year plans. In 2020, digital became urgent; credit unions were forced to interact and communicate in new ways by increasing the number of touchpoints they had with members. Moving forward, institutions will need to provide more optionality to compete on members’ relationships and trust. It all comes down to being there for members when they need it most.
Customer Expectations
A HubSpot survey on customer expectations showed that consumers have access to many communication channels, and they expect to solve their issue using the most convenient or best suited one. These consumers use an average of three channels when contacting a business, including phone, email, live chat, mobile apps and other online channels. Of those channels, 82% reach out by phone, 62% by email and 43% by live chat. And these numbers have only been trending up, especially as members use email and live chat to open accounts, apply for loans, finalize documents and more.
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