Set aside the platitudes of loyalty, members have a simple list of demands: give me what I want, when I want it, and reward me for it or I’ll go somewhere else and get it.
In a marketplace that defines all participants as a commodity, it’s time for your credit union to become an absolute necessity. Superior members service and lifelong commitment hinges on: thorough knowledge about your members; managing members as investments; rewarding those who choose you most; and, creating campaigns that increase your members’ lifetime value to your credit union.
Developing member commitment is much more than conducting satisfaction studies that rarely equal repeat sales or enthusiastic referrals. Commitment involves a systematic process of: understanding the drivers of member acquisition, retention, margin, and profitability; member feedback and knowledge sharing; rewards and measurable loyalty programs; and, turning members into advocates.
Find out precisely what your members want, use that information to generate effective products and services, and watch your members keep coming back for more.
Speaker: Jeff Rendel, CSP, is President of Rising Above Enterprises. He works with financial services’ providers that want deeper market penetration, committed customers and engaged, committed workforces. As a former federal regulator with the U.S. Treasury’s Office of the Comptroller of the Currency, Jeff examined a wide array of the nation’s banks – small, medium and large. He has also been a Congressional lobbyist for financial institutions on the West Coast and brings a wealth of education, knowledge and experience to the platform!