Customer effort scores. Relationship surveys. Net promoter scores. At some point, all these surveys start blending in together. Especially if you’re new to the survey game, it can be tough to figure out where to start.
And then once you start, where do you go from there?
That’s one of the harder questions to answer, but I’ll give it a shot. Here are five surveys that every credit union should use. They can be answered in many ways—Likert scales, multiple choice, or transactional NPS. But it’s not so important how they be answered, so long as they are answered.
1. In-Branch Transaction Surveys
In our modern financial world, more and more people choose to handle most of their banking needs outside of the branch. Nevertheless, in-branch interactions have a massive influence on your overall member experience.
Considering all that, it’s critical to ensure good in-branch experiences. Sending surveys to members after they visit your branch will ensure that you’re meeting your members’ needs and expectations when they make the extra effort to visit you in person.
2. Loan Closing Surveys
The process of applying for and receiving a loan can be stressful, complicated, and momentous. For such an emotional, high-value service, you’ll want to make sure that your members feel they were treated well and fairly.
Sending out surveys after a member has closed a loan can reveal friction, pain points, or other areas for improvement in the process. It may also show you what you’re doing well, which you can highlight as a key differentiator in marketing efforts.
3. Pre- and Post-Conversion Surveys
The best thing that you can do with survey information is to act on it. If you find out that your members don’t like your website, you should change it up in response. But if/when you do change it, how will you know if you’ve changed it for the better?
Survey your members before and after you make a change. Doing pre-conversion surveys will show you how people felt about the original service. Post-conversion surveys will let you know if the changes you’ve made improved things or—gulp—made it even worse.
4. Mortgage Surveys
Mortgages are basically loans on steroids. So, just as you would send out a loan closing survey, it’s important to send out mortgage surveys.
Considering that mortgages can make up a sizeable chunk of any credit union loan portfolio, it’s crucial to keep it a competitive service. Monitoring the mortgage process will assure better member experiences.
5. RV and Car Sale Surveys
Of all the loan types credit unions offer, these are among the most common. That makes these loans a particular point of interest for the purposes of quality control and competitiveness. It stands to reason that you’d want to gather as much feedback as possible about your RV and car sale loans.
Other Survey Considerations
Measuring your credit union’s transactional NPS scores is an important component of overall member experience. You can send out customer effort score (CES) surveys and relationship NPS surveys till the cows come home. However, sometimes you need to drill a little bit deeper.
The above five survey types are among the most important for maintaining your reputation for great member experience. They may not measure your most frequently used services, but they do measure some of your most impactful.
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