Proven strategies to create fiercely loyal members

first_imgCommitment sounds like an obvious part of any business plan, however for many Credit Unions it’s not always so easy. If you want commitment from your members in the form of loyalty, you’ll have to give commitment in return. Here are a few commitments your credit union can make to aid in creating loyalty:Commit to being the best at what you doCommit to the member relationshipCommit to your Brand3. Maintain a Relationship Mindset The first step in creating a fiercely loyal member is to build an emotional connection. When you are able to tap into a consumer’s emotions, you’re often able to influence their purchase decisions. A few ways to establish an emotional connection with members:Build CredibilityProvide ValueBe TransparentLive Your Brand2. Be Committed Think about which brands you are most loyal to, and why. Apple, Amazon, and Southwest are some of the top brands that often come to mind. Most likely your “why” revolves around product quality, experience, and/or convenience factors. Now think about what it would take to make you become disloyal to your favorite brands. One way to keep a finger on the experience pulse is Member Experience Mapping. Member Experience Mapping is a great way to gather a 360° view of what your members are experiencing when they interact with your brand. Mapping your members’ experiences is a crucial step in showing the gaps between consumer expectations and perceptions of the actual experience along the way. Closing these gaps will help your credit union achieve peak member loyalty.The best kind of member loyalty comes from an exchange of value between the member and the Credit Union, where conversations revolve around how you can better serve the member’s needs, and not so much focused on the business results. When the relationship is valued more than the sale, loyalty is sure to follow. 36SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Hilary Reed Hilary Reed, founder of EmpowerFi, is an innovative thought-leader who has been involved in various aspects of strategic sales and marketing for 15 years. Her career began in 2000 when … Web: Detailscenter_img Everything your organization does, internally and externally should revolve around building deeper relationships. From internal staff relationships, to member relationships, and relationships with other brands (i.e. community, vendors, etc.), by focusing on building individual relationships, and opening up ongoing communications, your credit union will be poised for organic growth.4. Consider Your Members’ Perspective It’s a well-known fact that growing just a small percentage of your profitable members can make a tremendous impact on your bottom line. When approximately 20% of your members make up 80% of your profit it’s easy to see the impact of increasing loyal members. But which members are likely to generate the most profit, and how do we get them to become and remain loyal?Loyalty means something different to every financial institution. What does loyalty mean to your organization? Here’s an example from one $600m credit union in the Northeast:Checking Account with debit cardDirect DepositMinimum of 1 LoanAggregate balances of $10,000+Whether you use number of products, aggregate balances, profitability, or lifetime value, if your focus is on member loyalty, you’re headed in the right direction. “Your customer doesn’t care how much you know until they know how much you care.”  -Damon Richards.When members feel valued, and have a connection with your brand, they are more likely to consider you first when it comes to future financial decisions. Here are a few ways for your Credit Union to acquire and retain loyal members.1. Establish an Emotional Connectionlast_img read more

Leadership Matters: 6 practices to build a motivated workforce

first_img continue reading » 13SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr As nice as it would be, it is unrealistic to expect your whole workforce to be motivated all the time. However, a few simple practices can help build an environment in your credit union where employees are most likely to be motivated over the long term.The stakes are high: The overall cost of employee disengagement is estimated between $450 billion and $550 billion every year. Follow these six practices to ensure that you are not unknowingly draining the motivation from your employees.1. Build line of sight into your operating rhythm.Line of sight, the linkage between “what I’m working on” and “what the company is trying to do,” is fundamental to nurturing motivation. If employees—including those on the front line, interacting with members every day—don’t understand how they’re helping the credit union achieve its goals, they will feel unimportant at best and actively disengaged at worst.last_img read more

Asian officials discuss ways to arrest a pandemic

first_imgJan 13, 2005 (CIDRAP News) – Delegates from about 20 Asian countries today concluded a 2-day meeting in Tokyo focusing on early response measures to use if avian influenza shows signs of evolving into a human flu pandemic.The delegates issued a statement saying two of the key priorities include increasing laboratory capacity and building public awareness of the risks, according to an Agence France-Presse (AFP) report. The meeting was sponsored by Japan and the World Health Organization (WHO).The statement said Asian countries need to “strengthen national capacities to detect and respond to the earliest signals of a potential pandemic and any other public health emergency,” according to a report by the Chinese news service Xinhua.Keiji Fukuda, a WHO flu expert, said the delegates also called for setting up a global task force of public health and bird flu experts to make “independent assessments of a possible pandemic to help improve quality control in decision-making,” according to the Xinhua story.The WHO has suggested it may be possible to halt an emerging flu pandemic if the signs are detected early enough. But many flu experts are skeptical that this could be done.In opening remarks prepared for the conference, Shigeru Omi, the WHO’s Western Pacific Region director, said, “We must try to ensure that we will be ready to respond instantly with all the weapons at our disposal should the early signs of an influenza pandemic appear. If we can achieve this rapid response, we may have a good chance of halting the spread of the virus or at least slowing it down.”Meanwhile, AFP reported today that H5N1 avian flu has been confirmed in the case of a 29-year-old Indonesian woman who died Jan 11. But the WHO has not cited the case on its Web site, and few, if any, other news services have mentioned it.The AFP story quoted the WHO’s Sari Setiogi as saying that tests at a WHO-accredited laboratory in Hong Kong had confirmed an earlier Indonesian finding that the woman had the virus. If confirmed as H5N1, the case would be Indonesia’s 17th case and 12th death.The woman had been hospitalized for 3 days before her death, the story said. A hospital spokesman said she had had contact with dead chickens belonging to her neighbor in Jakarta.last_img read more

Seven princesses to vie for 2012 Carnival Princess Show

first_img Tweet Share Sharing is caring! Share Sharecenter_img 106 Views   one comment The seven beautiful Princess contestants Seven princesses from various primary schools around the island will vie for the 2012 Carnival Princess Show on February 5th, 2012.The Carnival Princess Show is an initiative of the Rotaract Club of Roseau and the organizers say the show affords the youngsters an opportunity to realize their goals and dreams.The seven contestants were officially launched on Tuesday evening at the Arawak House of Culture.The contestants are;Gianni George of the St. Martin’s Primary School,Adicia Burton of the Salybia Primary School,Nisha Prosper of the Goodwill Primary School,Jeanyia Giraudel of the Grand Fond Primary School,Shaihda Francois of the Paix Bouche Primary School,Brier Evans of the Convent Preparatory SchoolBritny Toussaint of the St. Joseph Primary SchoolPhotographs by: Josiah St. Jean of Picatastic Photo Studio [nggallery id = 124]Dominica Vibes News EntertainmentLocalNews Seven princesses to vie for 2012 Carnival Princess Show by: – January 25, 2012last_img read more