In order to provide the best mix of products and services for your members, you must understand your members’ financial wants and needs. And how do you get that understanding? You ask them. Focus groups provide a systematic and productive means of exploring – in-depth – your members’ values, motivations, goals, and behavior with respect to their financial lives.
Focus groups can allow you to:
- Understand what stimulates, as well as hinders, change among your members
- Discover how different groups (Millennials, for example) perceive your brand
- Investigate attitudes toward technology, potential products, or delivery channels
- Obtain potential solutions to current problems at your credit union
- Inform decision-making, strategic planning, and resource allocation
Focus groups are excellent for obtaining the information necessary for knowing your members and best meeting their needs.
Focus groups normally consist of 8 - 10 participants and last approximately 90 minutes. Typically, we will conduct your focus groups onsite at your credit union, although other venues, including dedicated focus group facilities, may also be used. Participants are served snacks and paid a monetary incentive for their time. The focus groups are managed and moderated by trained Cornerstone Research staff, who understand group dynamics and know how to engage and obtain the most valuable insights from participants. To ensure that your objectives are met, we design the focus group discussion guide in close consultation with your credit union. The groups may be audiotaped or videotaped, and a written report of the findings, which can include verbatim transcripts, will be delivered to you within three weeks after your group(s) have been conducted.
We are a small team, so we are responsive, nimble, and adaptable in working with both large and small credit unions. We have well over three decades of experience executing credit union-specific research.
To obtain a quote for conducting your focus groups, or if you have any questions, please contact Doug Foister at 469-385-6477 or 800-422-5762, ext. 6477, or email firstname.lastname@example.org.