Hopefully, you’re spending plenty time talking to members and your front-line member services people. When I worked as a credit union marketer, I always enjoyed hearing firsthand what was going on “up front.” (Wailing from overworked loan officers is just one of the sounds of success I treasured.) It’s easy for credit union marketers to get caught up in daily tasks, budgets, and planning, but it’s always worthwhile to get out of the back office.

Staying in touch like this is one way to gauge how things are going, but it’s also a great way to help figure out where you’re going. Every problem that your front-line people and members are whispering about is also an opportunity for product innovation.

For example, is your credit card program lagging? Maybe the cure is as simple as reworking an outdated four page single spaced application that asks for more information than a corporate tax return. Or maybe you need to rework the card design — members hate carrying ugly cards.

How long does it take to open a new member account? Maybe it’s time to simplify the checking account choices, or even throw out all the confusing options and put all your features in one account.

Are members complaining about NSF fees? (At a party, let it slip that you work for a CU, and you’ll get an earful)? How about email balance alerts, or some form of NSF forgiveness? Maybe each member could get one free “oops” a year.

So what have you heard lately? What have you solved lately?

Tuesday, March 25th, 2008 at 10:02 am.
Filed under Credit Union Philosophy in Action, On Marketing, Product Innovation.
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