I recently took a trip and my flight reminded me of the challenges we have in the industry today. Many industries are ahead of banking in the transformation process. While credit unions are learning how to maximize digital and renew their branch spaces, airlines, retail and education are ahead when it comes to integration and customer experience.
My flight made some things crystal clear. The three key lesson I observed are:
1-A great digital experience makes life easier for the consumer. I was able to purchase a ticket, pick my seat and complete my transaction in minutes. I received emails and later was able to check in for my flight seemlessly. CUs have already stepped into this digital world, but must consider how easy and reliable the technology is for members. Also, they must ensure their communication, such as onboarding, is also digital.
2-Human interaction should not be lost for the convenience of digital. When I arrived at the airport and boarded the plane the staff greeted me with less warmth than the device with which I booked my trip. The flight was on time when I boarded, but due to administrative issues, was delayed two hours at the gate. There was little information shared in that time between the crew and passengers. I received more information on my phone than from the people standing right in front of me. The point here is that CUs should ensure they are communicating, engaging and asking questions at every step of the way with their members. How nice would it have been if the passengers heard regular announcements about the flight status? Or, if the crew walked up and down the aisles to interact with passengers? Simple things mean a lot with consumers.
3-You can’t properly market your CU without considering these points. If you are sending a marketing message that your staff is friendly, yet they don’t smile or worse, ignore your members, your plan will fail. That is what happened with my trip. I lost my confidence in the airline’s ability to treat me with common courtesy. Thus, my loyalty is at question.
Remember to look outside of the industry for examples of best practices and innovative ways to transform your CU. It will help provide inspiration to set you apart and lead in the marketplace.
Now, up, up and away!