Saturday, February 3, 2024

SECU - Consider This: Chapter 10 - What Do Members Want? 

Are you trying to think about unicorns? Or just tagging along...

One reader asked is "Consider This" about  SECU or all credit unions? The answer is "Yes". "The Thinker" in the crowd might point out it probably applies to any business.

"What do members want?" That one is really easy. You know the right answer. Yes, you do! You've always known it, but might not have taken the time to think about it - we all get so busy with living.  Ready for the right answer...

What do members want? They want what you want. Simple as that! Told you this was easy. 

😎 You do know what you want don't you? Well, what is it? 

Surveying people about their opinions, wants and needs is a tricky business. There are a multitude of pitfalls that will "bias" the results - who you ask, how you ask, what you ask, who responds, who doesn't . (Giving full credence to 👍 "likes", "yelping"⭐'s, or anonymous blog comments is kinda giddy, too!).

But from thousands and thousands of surveys over the years; if you simplify the answers, summarize them, and sort it on down, here's what members say they want from their credit union or any other "everyday" service provider:

  1.  Consistency -       (% ?) 
  2.  Convenience -      (% ?)
  3.  Price -                  (% ?)
  4.  Service Quality -   (% ?)

 Surprised? Too simple for you? (Can sense the"yes-buts" fuming already!

"But" before you tee-off, as you think about those 4 most important issues; hope you'll find that each factor truly does influence your everyday service decisions - whether at the grocery store, in choosing a restaurant for lunch, a hair-stylist, gas station, or credit union.

One more thing.  The 4 factors are listed alphabetically. I left the "%" weighting blank - percentage weighting simply means how important consumers view each issue in making service decisions. (Hint the importance weightings are not equal - not by a long shot!)

Before you look at the actual, average weightings; stop a moment and write down the importance you give to each factor. Go on don't peek...

  Here's how the summary works out:

  1. Convenience - 45%
  2. Consistency - 25%
  3. Price - 10%
  4. Service Quality - 10%


... 'Course surveys compute "averages" so your answers are not "wrong", they're right for you - well, maybe; maybe not...! 

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