Five Must Dos to Get Members for Life
Credit unions are on the rise. More people all over the country are recognizing the benefits of using the services they provide. However, keeping those customers for the long term can be a challenge. With such competition in the financial marketplace, how can credit unions persuade members to remain with them?
These charts below show how non-bank servicers have increased in popularity over the last few years. Yet, they also show clearly that banks are still significantly more likely to be the first choice for a person getting a mortgage.
This means that credit unions must work hard to find ways to increase their member numbers to stay competitive. Not only that, they need to build on the great work they’ve already done by keeping their existing members.
With this in mind, here are 5 tips to get customers for life:
1. Employ A Greeter
Offering members and potential members an excellent in-branch experience is essential. One highly effective way to do this is to employ a greeter to be the face of your branch.
Simply welcoming members into the branch gives the right impression from the very first moment of contact. A greeter can offer advice and information and direct customers to the most appropriate person. While this is a simple, it’s something that can make a big difference to the member experience.
Do you already have greeters in your branches? It’s important to make sure you’re using them to their best potential. Are they standing or sitting when customers arrive? Standing always creates a better impression.
What is their attitude and demeanor toward the customers? Do they appear annoyed, frustrated, tired or bored? A greeter that is not friendly and engaged with the customer can cost your credit union in the long run. So train your greeters to ensure they are providing value to everyone that walks through your doors.
To create the right impression, greeters should have a positive attitude. They should be smiling and actively greet each customer as if he or she was the most important person.
2. Maintain Consistent Communication
While considering the importance of the customer experience for long-term retention, it’s important to pay attention to how consistent you are when communicating with your members.
This chart shows the key areas a business should address when dealing with customers personally, either by phone or online.
How are you communicating with your existing and potential members? It’s vital to communicate effectively via every method. Body language, web content, and customer service helplines are all essential areas for review. Consistency is key, and it’s important to examine the communication approach you’re taking across all areas.
Is the overall message you’re giving your members consistent in all areas of your credit union? Is the same tone apparent no matter how customers come in contact with your institution?
Are your systems and processes consistent right across your branches, helplines, and website? If they aren’t, it’s time to address this to ensure customers are enjoying the best possible experience every time.
3. Keep Consistent Engagement Through A Blog
Thanks to the wonders of the Internet, it’s easier than ever to maintain customer engagement on an ongoing basis. Blogging is a highly effective way to stay in contact with existing and potential members. Blogs can enable you to achieve a wider reach and to reinforce your brand in their minds.
How can blogging help? The most important thing is to know who your target audience is. Identifying who uses or would benefit from using your products and services is the first step. Next, you need to determine the problems and issues they are having.
Credit unions are on the rise. More people all over the country are recognizing the benefits of using the services they provide. However, keeping those customers for the long term can be a challenge. With such competition in the financial marketplace, how can credit unions persuade members to remain with them?
These charts below show how non-bank servicers have increased in popularity over the last few years. Yet, they also show clearly that banks are still significantly more likely to be the first choice for a person getting a mortgage.