Member Experience Management – Many credit unions fall short on online customer experience

Many credit union members rarely enter a branch. Most go online instead. As a result, credit unions can’t afford to deliver a subpar online member experience any longer. The magic in managing member experience these days is found in moving away from a branch-oriented mentality and developing a strong online member focus. This requires less attention on the physical aspects of member service – like a branch, printed checks and paper account statements – to instead concentrate on mastering the virtual aspects of member service.

Member Experience Matters

Managing the member experience has historically been focused on the branch experience. But with continued advancements in Web and mobile technology, more and more members want to engage with service providers online. In the past, credit unions didn’t have an urgent need to be concerned about the experience their members have online. But as consumer preferences quickly shift to using the Internet, ATMs and iPhones, credit unions need to establish excellence in managing the online member experience as well.

Don’t Fall Short Online

Many credit unions fall short when it comes to online member satisfaction. This is often because of a lack of consideration of the interaction a members’ perspective. It’s not enough to simply port your paper statements to your website and move on. Every routine member communication is an opportunity to more effectively engage and enliven your member relationship. Here are a few tips that can help:

• Be Useful – The usefulness of the online experience is defined by how effectively it meets member expectations. Are you providing the information they need, when they need it, and in a form that is most useful?  Can members easily gain access not only on the Web, but also via mobile phones? Are you including promotional offers that are truly relevant to their specific needs and account history?
• Be Easy to Use – When it comes to member satisfaction, a lot can be riding on their experience online. Any difficulties visiting your website, logging into their account, or accessing information via their smart phone are a deal-killer. Make sure that it’s easy to use; modern consumers will not tolerate poor usability or incompatibility with the technology tools that are now part of everyday life.
• Be Enjoyable – Engaging with members online does not have to be boring or serious interaction. Do not ignore the power of a little bit of fun in the encounter. After all, if members find it enjoyable to go login they are less likely to leave in favor of the competition.

Moving Forward

Credit unions today can no longer rely on the traditional model of member experience management. Where to start? The good news is that solutions are available, like our own Cloud-based TransXAction service, which can ease the transition to online member communications and boost the experience your members have online. Building an excellent online member experience is essential as technology evolves and member preferences move away from the branch experience in favor on an online experience.

Brad Banyas is CEO of OMI, a leading Managed Communication Service Provider that assists organizations in transitioning print communications to the paperless world. OMI products, Statement2web® and TransXAction, ™ provide a single point for creating, managing, and measuring customer communications of all kinds. OMI enables business-changing strategies that utilize daily, weekly and monthly customer communications as focal points to reduce cost, increase revenue, improve brand loyalty and boost customer satisfaction. Visit www.omi.co.