A member’s “experience” with your credit union is a lot more than just a friendly chat with a teller, even if they’re giving out candy. Member experience is all about how well your organization delivers and supports your brand promise through every two-way interaction.
The digital footprint each consumer produces has grown exponentially over the last 10 to 15 years. Combined with advances in data analytics, businesses now have the ability to develop insights like never before, and they are investing heavily in that strategy.
The key to improving and transforming your credit union lies in gaining actionable insights from the best data. When employed effectively, it results in a new kind of lead generation, a different approach to cross-sell, better life event marketing, and more.
Credit unions have similar options as they push for greater distance between them and a wide swath of competitors: Build. Buy. Partner.
Before you turn to lending, turn to your data. The “downstream” benefits above can be achieved from a robust data governance program. And they illustrate that data, like loans, can be tied directly to the bottom line.
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