How we do it
1 Daily member transaction/interaction data files are securely delivered to Competitive Edge by your IT department.
2 Data files are statistically sampled, paper or email surveys created, and then surveys are sent out quickly following the service experience. Competitive Edge handles everything to make this happen minimizing the time commitment of your staff.
3 Certain channels such as online banking, mobile banking, ATMs, etc., lend themselves to using email surveys exclusively. For other channels, we have the ability to split the sampling between paper and email surveys. This works well for member touchpoints including in-branch, call center, and lending.
4 The system is designed to hold teams and individuals across the organization accountable for their contribution to the member experience including timely follow up with dissatisfied members to resolve issues and hopefully turn them into promoters of the credit union.
5 Timely and continuous measuring, monitoring, and reporting the member experience will drive loyalty. Our goal is to provide you with results that are statistically “representative” of your overall member views/opinions about everyday performance behaviors of your front-line employees and your other member touchpoints.
Online Reporting Dashboard & Email Alerts
Competitive Edge provides up-to-date access to member survey responses through Live Access, a 24-7 reporting dashboard.
PDF and Excel reports are also provided monthly for easy distribution to internal stakeholders.
Also included are email alert notifications which are auto-generated when question ratings on any member survey fall below a pre-designated number, or when key words or phrases appear in the comments submitted by members.
These email alerts help you follow up with members to close the loop in a timely manner, particularly for members with negative feedback. This allows you to quickly resolve their issues and identify underlying root causes.
Benchmarking & Peer Comparison Information
Competitive Edge has been a leader in providing credit union specific benchmarking/peer comparison information.
Since we handle surveys for a large number of credit unions across the country, we’re able to provide on-going peer benchmarking data that includes the comparative scores of other clients for commonly asked survey questions.
Included among these questions is the Net Promoter Score question, Overall Satisfaction question (CSAT), the Member Effort Score question, and a number of others.
Do you know about the Net Promoter Score™? This now-well-established performance metric— first introduced to the business world back in 2003*— is a proven winner when it comes to determining “exceptional performance” within a business organization..
Riding on the claim that “it’s the ONE number you need to know!”, the program pushes a single key question as one that every business should be most concerned about.
This question itself is absolutely “right-on” for credit unions since we’ve known for decades that, no matter what you might do marketing-wise, the very best way to generate growth is through word-of- mouth.
Net Promoter® Scores— measured on a 0-to-10 scale— are calculated by subtracting the percent of detractors (those who rate the question 0-to-6) from the percent of promoters (those giving ratings of 9 or 10). Ratings in the passive grouping (7 or 8) are ignored.
Records over the past decade show that businesses that achieve long-term profitable growth will have Net Promoter® Scores (NPS®) two times higher than average.
We urge you to include this question as part of your survey. If you do, you’ll be included in our NPS® comparison database. It’s a service we provide at no additional charge.
*Net Promoter Score™ is a trademark of Satmetrix Systems, Inc., Bain & Company, Inc., and Fred Reichheld. More about NPS® at: http://en.wikipedia.org/wiki/Net_Promoter
How likely is it that you would recommend us to your friends?
First, you’ll select five to seven survey questions to test for — matters that address your channel particular performance priorities. Then, we randomly draw a portion of your everyday member transactions/interactions to sample. The survey includes the credit union’s color logo and other customized graphics to fit within the credit union’s branding guidelines.
In addition to the online reporting dashboard, survey scores and comments from members are incorporated into PDF and Excel reports. Some of these include: 1) the CU overall, 2) each channel/branch/team, 3) each employee or sub-channel. These reports provide employees and teams with direct-from-the-member feedback about performance which will cause a bottoms-up focus on improving the member experience.