The Members’ Voice

In the old RCA commercials for the first “high fidelity” record players, a dog was pictured sitting next to the speaker listening intently to his master’s voice. Credit unions have long honored the vision of listening to the member’s voice, but only recently has technology allowed this to be a-real time experience. In this era of change, listening becomes a critical business process. One company CEO expressed it best: “Real-time feedback from customers is the most incredible quality control tool. It is live hot data.” Collecting hot data was time consuming and expensive before the Internet era. Mail surveys take anywhere from 30-90 days to create, mail and tabulate responses. The report analysis and writing can take another 30-60 days. Six months after a project starts, management begins responding to the information. Focus groups, a second alternative, are expensive, often of small sample size, and generally limited to few topics.