Other Areas of Research

Branding Research

Most likely, the following represent some of the branding questions that - at times – may keep you up at night.  We can provide answers to any of the following branding questions:

  • Who is aware of your brand? 
  • How recognizable is your brand?
  • What do your members think about your brand? Is their opinion changing over time? 
  • How much brand loyalty do your members possess?
  • How can your brand be improved?
  • How do non-members perceive your brand?
  • Do you need to re-brand and, if so, how?

Every brand wants to connect to its customers in a perceptible, emotional way that will result in a lifelong bond. This does not happen overnight.  From brand inception, to building a brand, to improving a brand, you must actively make decisions that move the brand forward.

Branding impacts your ability to recruit top-tier employees and talent so you want to make sure your employees align with your brand. Branding also contributes to your ability to attract new members.  With a myriad of ways to impact perceptions, choosing those with the highest returns on your investment is critical.

Branding a credit union is a complex proposition. Yet, we can develop a plan through careful consideration of objectives, timeline and budget. Due to the wide range of goals that can drive customized branding research, we will evaluate the specific needs of each project and select the best methods for data collection and analysis.

Advertising Research

Most likely, these are advertising decisions that benefit from member feedback. We can help when you need answers to the following types of advertising questions:

  • Who is aware of your ads and why? (Do they attract attention?) 
  • How well do target audiences recall your ads?
  • How recognizable is your brand in your ads?
  • How well does your advertising convey the intended messages?
  • How does your advertising move the audience emotionally?
  • How far do your ads “move the needle” on purchase/membership intent?
  • How well do your ads boost your credit union’s image (and the product/service image)?

We customize projects to provide the insights you need…from developing ad concepts, to evaluating actual ad copy, to tracking the effectiveness of ad campaigns.

Ease-of-Use Research

Do you personally know people who are willing to pay more to avoid hassles?  Maybe you’re one of them. You can be sure there are many within your credit union membership. This means that making it easy for members to work with you should be a primary objective. 

Reducing a member’s effort to the point where you are making it easy to resolve issues/accomplish transactions does more to retain current members - and attract new ones - than exceeding customer satisfaction expectations.  Acting on insights that show how to resolve members’ problems will improve service satisfaction, lower service costs (getting it right the first time), reduce member defections, and propel membership growth. 

Ease of Use research is suited for customer service transactions. Once you have determined which type of transaction will be your focus, we will design the appropriate survey and solicit input from members who have relevant experience in this area. By carefully analyzing your Ease of Use score, we can pinpoint what needs to be improved and what is already delighting your members.

WalletShare Research

WalletShare is the percentage of a member’s spending for a particular product or service. For example, let’s assume your member has one credit card with you (pays $100 per month) and another credit card with a bank (pays $250 per month). This member has a third card with another credit union (pays $50 per month). Your WalletShare (25%) is below that of the bank (63%), but above the other credit union share (12%). Here, your position ranks second between these two competitors.

WalletShare research focuses on how you can increase your share by taking it away from your competition. In doing so, not only will you keep your existing members longer, but you will attract new members. Research indicates that moving up in rank (from the third to second or from second to first) is a stronger predictor of loyalty than is moving up in rank with respect to satisfaction metrics or your NPS score. The WalletShare survey shows you specifically what to change to increase your share of wallet.  

To obtain a quote for conducting branding, advertising, ease of use, or wallet-share research, or if you have any questions, please contact Doug Foister at 469-385-6477 or 800-422-5762, ext. 6477, or email dfoister@cornerstoneleague.coop.