One of the most important things that a relationship or transactional survey can tell you is when someone is unhappy with your service. However, that information isn’t worth much if you don’t act on it. You can use a credit union NPS survey to address the concerns of unhappy members.
While surveys are an incredible tool for gleaning member insight at credit unions, knowing what to do with that insight isn’t always clear. Nevertheless, survey data can and should be made actionable, or else there’s not much point in administering a survey in the first place. It’s important to address member feedback, especially when that feedback indicates dissatisfaction.
I’d Like to Speak with a Manager, Please!
If a credit union has just released its new online portal for online account management, it may want to ask members about their online banking experience. If a member responded on a transactional credit union NPS survey that they found it frustrating, confusing, slow, or counterintuitive, they might expect a couple responses.
First, they might expect that their feedback wasn’t just gathered, but that it was listened to. Part of the fun of airing grievances is that someone else has to listen. Part of the utility of expressing negative feedback is having that feedback heard rather than ignored.
Second, they might want to see that the credit union is taking steps to address their concerns. Few people ask to speak to a manager just to complain—rather, they want corrective action to be taken.
The whole point of credit union NPS surveys is that they allow credit unions to use member insight to address weak spots, mistakes, and so on.
Who Uses Credit Union Member Feedback?
If you’re not using a good survey tool, then the results of your surveys may have to go through several channels before they reach the right person. Member insight is time-sensitive. Members want to know that their feedback is appreciated and useful.
The best way to let members know that the credit union NPS survey they just took is being heard is for a credit union to address the survey results. While this can be easy and hassle-free with some survey platforms, others don’t integrate well into existing systems.
In some credit unions, feedback and survey results get collected and handed off to a manager, who forwards that to another employee. The goal is to get the information into the right hands, but it doesn’t always happen in a timely fashion. Sometimes, the information gets to the right hands, but the right hands don’t do anything with it. Even worse, sometimes it never reaches the right hands at all.
The danger of asking for feedback without having a fast and reliable way to respond to that feedback is that you could end up with members who are unhappy about services to begin with, but then become irritated that they’re not being listened to.
To better retain members and keep them happy, credit unions must respond to member concerns. That’s why credit union NPS surveys perform better when they can direct feedback to the right people, and why survey tools should be easily accessible.
What’s the Endgame?
If your credit union’s goal is clearer member insight, you should strongly consider setting up a flexible, customizable survey platform.
However, if your goal extends beyond gaining critical member insight, you’ll need a survey platform that helps you track what happens with your results data. Staying accountable for responding to member feedback is key with any credit union NPS survey.
After all, the real goal is happy, loyal members. For that, you need a robust and flexible member survey platform as well as the wherewithal to listen to and address their concerns.
For more related survey content, check out the blogs below:
How Can You Use Member Data to Improve Your Credit Union?