standing in your members’ shoes (credit union conference presentation)

Download Standing in Your Members’ Shoes (Credit Union Conference Presentation)

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In order to deliver an exceptional member experience, one that truly drives loyalty, credit unions must understand the experiences they are delivering today. Experiences are made up of big and small moments. They happen before the member even walks into the branch and continue long after the member leaves. In this 2011 NAFCU Annual Conference session you will understand what member experience is and how it drives loyalty. Plus, learn ways to immediately improve the member experience at your credit union. Presented by Martie Woods, Chief Experience Officer, Deluxe Corporation More info at http://www.nafcu.org/deluxe

TRANSCRIPT

  • 1. Standing in Your Customers ShoesPresented by: Martie Woods, Vice President and Chief Experience Officer June 30, 2011 1
  • 2. How the loyalty conversation has changed A case for change Why trust still matters Shifting to value 22011 Deluxe Enterprise Operations. All rights reserved.
  • 3. Loyalty: The progression of the birthday party Transformations Experiences Services Goods Commodities Joe Pine & James Gilmore Welcome to the Experience Economy 32011 Deluxe Enterprise Operations. All rights reserved.
  • 4. The Case for Change 1. Demographics Digitally-savvy kids are changing everything. Including, their boomer parents. Women are taking over. She-conomy. Nationally, minorities will comprise 40% of the population. In CA, they will be the majority. 42011 Deluxe Enterprise Operations. All rights reserved.
  • 5. The Case for Change 2. New Demands Stop thinking fast and convenient. Think time well spent. Consumers are increasingly picky, yet patient. Not because they think we deserve time to serve them. Because they have iPhones. 52011 Deluxe Enterprise Operations. All rights reserved.
  • 6. The Case for Change. 3. Savings Consumers are increasing savings at a rate double what it was in the 80s. At the same time, they are spending and borrowing less. Our industry is no longer making its money on deposits and loans. Savings and investment products will prevail. Consumers still expect free. 62011 Deluxe Enterprise Operations. All rights reserved.
  • 7. The Case for Change. 4. Small Business Niche products and services will prevail. Health, wellness and local foods. Supports movement away from traditional employment. Mid-sized business will be acquired into large corporations, paving the way for more small businesses. 72011 Deluxe Enterprise Operations. All rights reserved.
  • 8. The Case for Change 5. Regulations Consumers do not see a relationship between regulations and product. Nor do they necessarily know whether a constraint they are experiencing is due to a regulation or a bank policy. People dont want to know how sausage is made. 82011 Deluxe Enterprise Operations. All rights reserved.
  • 9. A New Look at Trust 92011 Deluxe Enterprise Operations. All rights reserved.
  • 10. Why trust still matters State of trust Two kinds of trust Impact on your brand 102011 Deluxe Enterprise Operations. All rights reserved.
  • 11. Trust 2 Kinds Macro Trust Micro Trust 112011 Deluxe Enterprise Operations. All rights reserved.
  • 12. Trust MACRO When the world is good, consumers trust further and further out from their inn er circle. MICRO When the world is bad, consumers trust is held closer to home. 122011 Deluxe Enterprise Operations. All rights reserved.
  • 13. Guiding Principles to Trust Each consumer weighs decisions against their levels of Micro Trust and Macro Trust. When distrust is high in either sphere, it compels them to action. Consumers are looking for c to home. lose Consumers want to trust people and organizations who are close to home. 132011 Deluxe Enterprise Operations. All rights reserved.
  • 14. Trust/Selling Paradox Sell Trust 142011 Deluxe Enterprise Operations. All rights reserved.
  • 15. Simplicity Take time to explain policies and terms in clear, simple language, and it feels like added value. Trust erodes when

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