We’ve already written a lot about what a credit union relationship surveys can tell you. Depending on how you interpret it—who’s saying what, and when—it can tell you a lot. But it can’t tell you everything. There are some things your credit union member survey can’t tell you.
This article is specifically about relationship surveys. For more information about transaction surveys, you can visit here. To learn about the limitations of relationship surveys, read on!
On a Scale from 1–10, How Likely Are You to Recommend Relationship Surveys to Your Peers?
Relationship surveys are a broad measure of sentiment across your credit union’s entire membership. The relationship survey question measures overall satisfaction and loyalty, but little else.
While it’s a critical metric for understanding your credit union’s general performance, it’s only one question. There’s not a lot of room for nuance.
Basically, the relationship survey question lets you know how your members feel, but it doesn’t let you know why they feel that way.
Why Relationship Surveys Fall Short
Relationship surveys reach every member and give them the same voice. However, each credit union member is unique. The things they appreciate most—and their pain points—will be similarly unique. A “one size fits all” relationship survey question may not be able to reflect that.
Transaction surveys are designed so that credit unions can get answers to specific questions. Pointed, strategic questions are best left to transaction surveys. Asking about transactions can help pin down particular issues that may affect members’ overall experience of their credit union’s services.
By contrast, relationship surveys can’t tell you what people are having issues with. Whether it be:
- Online or mobile banking
- Wait times in branches
- Loan application processes
- Account fees
- Drive-through teller experiences
Relationship surveys can tell you only if a member’s pain points are influencing their perception of your credit union as a whole.
Relationship Surveys Don’t Give Advice
Okay, no survey gives advice. Good interpretation of survey data just gives you the tools you need to make more informed decisions.
If you don’t like the results of your relationship survey, you will have to ask further questions to see what issues are dragging your score down. Relationship surveys can tell you if something’s off, but they can’t tell you what is off or what you can do about it.
Better Survey Strategy
Here are a few things you can do to give better surveys. By following these tips, you should be able to get a clearer picture of how your members feel about you as well as why they feel that way.
1. Mix up your survey types
In addition to sending out relationship surveys, add some transaction surveys into the mix. That way you can get the complete picture as well as any close-ups you need. You’re more likely to zero in on any pain points that need addressing.
2. Follow up on any very negative survey responses
If someone gives a score of 1 or 2 on their likelihood of recommending you to a friend or colleague, they’re very displeased. Following up with them shortly after receiving their response can help with a few things.
First, a follow-up shows that you’re listening and that you care. Second, it can help them contextualize their answer so you can see what issues they might want addressed. Third, it helps with member retention, because they’ll see that you’re willing to go the extra mile to keep them happy.
3. Keep sending surveys
One survey isn’t enough. One survey only takes a snapshot of some people’s opinion at a specific moment in time. However, most people’s sentiments change over time.
Giving out periodic surveys can help you track your performance and relationships over time. It will let you know if the moves you’ve taken to improve your branches and their services are having the intended effect.
How Can I Find My Credit Union’s NPS Score?
All you need to find your credit union’s NPS score is a survey platform that can measure member satisfaction. We’ve put together a comparison of three great survey platforms that work for credit unions.
If you’d like to learn more about credit union member surveys or what kind of questions you might ask, follow the links below. Or, if you want to get started making your own surveys, you can request a demo.