According to research published in the Harvard Business Review, measuring customer effort outperforms the Net Promoter Score and customer satisfaction measures in predicting customer behaviour. This research has led Satori Consulting Inc. to partner with the US firm Competitive Edge, to bring the Member Effort Survey technology and practices and strategy, to Canadian Credit Unions.
Member Effort Survey measures the amount of effort that a member needs to exert to do a transaction or conduct banking at a credit union. Whether it is applying for a loan, accessing mobile banking, calling a branch or cashing a cheque, the data collected provides insight to processes or channels that require more effort and therefore provides tangible data to create internal changes to streamline processes and make dealing with the organization easy and seamless.
The Statistics Speak Volumes
According to the Harvard Business Review article, Stop Trying to Delight Your Customers, of the customers who reported low effort, 94% expressed an intention to repurchase, and 88% said they would increase their spending. Only 1% said they would speak negatively about the company. Conversely, 81% of the customers who had a hard time solving their problems reported an intention to spread negative word of mouth. In short loyalty is not driven by happiness, but rather it is driven by banking made easy.