Doing business with your Credit Union Members cannot just be about transactions, deposits, accounts, loans, and credit cards. With so many different financial institutions competing for the public’s business, your members are bombarded with offers and advertisements daily. Lots of studies have been done that indicate the average person sees over 4000 ads per day, other studies debunk that and put it closer to 700. In all my research I haven’t found a study that shows it’s less than 500, and that is PER DAY!
With so many ads, what makes a member choose your credit union? What makes them stay? I think it’s the experience….would you agree?
Social Media changed the game years ago when it came to reviews, testimonials and word of mouth. There isn’t a week that goes by now that I don’t see a friend on social media posting for a recommendation. If you want to get new, quality, high value members to join your credit union and stay for a long time, then make the experience so good that they will love working with you, and referring you!
Do this through happiness like John Cronin does, from JohnsCrazySocks.com. John’s story went viral in 2017 and 2018, because his mission is to Spread Happiness through socks.
He does this by doing 3 very interesting things.
- He includes candy in every shipment of socks that is sent out.
- He includes a hand written thank you card in every order.
- He occasionally hand delivers orders, when they are on Long Island.
Let’s break this down to the Credit Union world and see how you can provide happiness to your members on a regular basis:
- Other than the traditional bowl of lollipops on the counter or drive through, what unique thing can you do to level up the experience. Can you include locally made candy? Can you provide balloons to children? What way can you make your members smile, by just simple actions?
- How can you effectively thank members for their continued service? A handwritten card or note goes a long way in achieving happiness! It’s not what is actually said in the card, it’s the fact that the member knows you took time to write the card and mail it to them! You might be surprised at the response you get if you just started mailing out 1 card each business day. Try it. Then in 90 days, look back and gauge the impact it had! You’ll be pleasantly surprised!
- How can you provide an over delivery experience? Can you hand deliver deposit envelopes? Check registers? Deposit Bags? In what way can you get to a few members, and hand deliver something, even if it’s just coffee! Watch what happens when you do this!
Credit Unions have an impact on the local community, and an even greater impact when they find ways to spread happiness! By doing this, you’ll create opportunities for new members to join, existing members to stay longer, and far more word of mouth referrals!
Here’s to new members and happiness all around!