In an effort to improve the customer experience, many retailers - including financial institutions - are turning to mystery shoppers for help.
In an effort to improve the customer experience, many retailers – including financial institutions – are turning to mystery shoppers for help. Mystery Shopping enables organizations to measure how closely their customers' experiences reflect what the organization expects them to experience. At the Cornerstone Credit Union League’s Leadership Conference and Expo, Eric Gagliano of Market Match shared great insight on mystery shopping with an engaged credit union audience.
“In life, there are life stages, or milestones, and when these happen, there are financial needs,” Gagliano told breakout session attendees. “It’s up to you to ask the qualifying questions to discover the members’ life stage cycle and offer appropriate products and services.”
“Get them talking,” he told the credit union audience. “Ask them about their family. Find out where they currently bank and why they want to change financial institutions. Learn how they plan to use the account.”
Getting answers to these qualifying questions, Gagliano says, will make for a greater experience for the member, and that is what earns the business.
“Don’t compete on price, compete on experience,” he urged.
During his presentation, Gagliano stressed the importance of having a clear member interaction process that can be measured and evaluated. He also offered the following tips:
When a member or potential member walks in the branch, greet them appropriately.
Ask leading questions to determine their needs and repeat their needs as you understood they articulated to you.
Determine what other needs they might have and provide valuable information on the products and services that can address these needs. For example, if you have 10-12 checking accounts, don’t bore them with information on all of those accounts – ask questions to determine which ones are most appropriate for them.
Follow up with the member with a handwritten note or phone call.
“Above all, treat your member like they are a guest in your home,” he told the crowd.