Are You Throwing Away Your Best Member Feedback?
Often referred to as the ‘ultimate question’, the Net Promoter Score® (NPS®) is the number that many credit unions focus on when it comes to gauging their member’s loyalty. When credit unions receive scores of 9’s and 10’s, it is easy to assume that these promoters are completely loyal and will start recommending your credit union to others.
However, this isn’t always the case. Assuming that your promoters are now doing all the selling for you is a mistake that many credit unions make. Even though your promoters think highly of your credit union, you still need to help them spread the word. Here are a few ways in which you can make the most of your promoters:
Ask for Online Feedback, but not from Everyone.
It isn’t that impressive when a credit union toots their own horn, but when others do it, the results can be stunning. Member testimonials and online recommendations are extremely powerful and have the highest effectiveness rating for every type of content marketing. Online reviews have an amazing reliability rating of 89 percent. Use this easy technique to boost your online reputation.
If you survey using the Net Promoter question, set up an automatic email to promoters asking them for a testimonial on your Facebook page. Configure the email so it only goes out to members who scored you a 9 or 10 on the Net Promoter Scale. This technique will regularly result in a great online recommendation that they otherwise wouldn’t have shared with the world. You can even feature this on your credit union’s website or other marketing materials and build more trust in potential members.
Use Social Media
Surprisingly, there are still credit unions out there that aren’t utilizing social media at all, let alone using their promoters with social media platforms. Facebook, Twitter, Instagram—all of the biggest social media platforms can be used as a way for your promoters to share their rave reviews of your credit union. When a member tweets at your credit union how amazing the customer service was, make sure to retweet it or even share it on Facebook. Letting your promoters do all the talking for you is a great way to persuade others to trust your credit union.
Set Up a Referral Program
You can and should reward those who are singing your praises. As one of the lowest cost-per-lead marketing channels, referral marketing is an effective way to leverage your promoters. You can reward your promoters who recommend you to others and gain new members in the process. If you aren’t convinced about using a referral program, consider this: Dropbox went from 100,000 users to 4 million in the span of 15 months by using a referral program. Survey tools such as LiveSurvey can provide credit unions with referral-based templates to help you develop your referral program and drive members to your credit union.
Don’t Just Collect Scores, Get Results!
NPS® is easy to use, especially with survey tools such as LiveSurvey. Unfortunately, many credit unions receive responses from promoters and do nothing about them. This is a waste of goodwill. In order to get the most from your well-earned reputation for service, it is critical for your credit union to encourage promoters to share their views. By doing so, you can expect an increase in new members and a boost in your online reputation.
Ready for a simple survey tool that lets you create automatic promoter feedback emails? Contact me for more info.