MemberShoppers Education and Referral Frequently Asked Questions
Some of the questions under the Member Advocacy section look the same as the questions under the Education and Referral section. Are members asked the same question twice?
Questions do appear similar on the reports, but these are actually not duplicate questions. The first set which are under Member Advocacy, only appear to the shopper when he/she is inquiring about or opening a new deposit or loan account. To help clarify this, we have put the type of function shopped in parentheses behind the question. (See below)
| 11 | 5.00 | Offered a product or service other than the one the member asked for that might improve the member’s financial life (i.e., payment protection, GAP insurance, extended warranty, credit card, checking account, or any other product or service.) (account representatives) |
| 11 | 5.00 | Explained how additional products or services would benefit the member. (account representatives) |
| 11 | 5.00 | Took the application, offered to take the application or offered to send one, or offered to follow-up with the member by asking for an appointment even if the member did not complete the application process. (account representatives) |
The questions under the Education and Referral section are similar but only appear to the shopper when he/she completes a transaction whether in the branch, at a drive-thru, or by telephone. To help clarify, we have put transactions in parentheses behind the question.
| 35 | 1.85 | Showed that he/she cared about the member’s financial well-being by offering a product, service, or suggestion that would improve the member’s financial life. (transactions) |
| 35 | 1.78 | Explained how a financial product or service (if offered) would benefit the member by explaining how it could save time, earn money, save money, make life easier, provide peace of mind, and/or increase convenience to the member. (transactions) |
| 35 | 1.78 | Provided written information (a brochure, a business card, an application, etc.) on a financial product (if offered) OR opened the account right then and there OR referred the member to someone else and told the member exactly how to proceed. (transactions) |
One indication of the difference in questions is the number shown in the far left column of the reports. This shows how many times this particular question was answered. In the examples above, account representatives were shopped 11 times on the up-selling questions while tellers and others who complete transactions were shopped 35 times.
Will all team members have both a Member Advocacy and an Education and Referral score?
Everyone will have a Member Advocacy score. For tellers and others who primarily do transactions, the bulk of the Member Advocacy score will be product knowledge. They will also have an Education and Referral score. For MSRs and loan officers, the Member Advocacy score is very important because it includes the interview process, upselling, closing the sale, follow-up, and product knowledge. Most MSRs and loan officers will not have an Education and Referral score unless they happen to work as a teller occasionally. Some branch and call center team members may be involved in both opening accounts and processing transactions. They will have scores in both sections.
The Education and Referral questions are intended to help tellers learn how to quickly cross-sell or educate the member with the 3-second selling process. Examples include informing the member of a new promotion or simply letting them know about a special event. Click HERE to learn more about the 3-second selling process.
What goals for Member Advocacy and Education and Referral should our credit union set for team members?
Your goals should be set on your own credit union’s benchmarks. Here are some typical goals, based on national averages, for goals for each MemberShoppers section:
Those who job functions mostly involve processing transactions:
Tangibles 4.5 to 5.0
Reliability and Accuracy 4.5 to 5.0
Member Advocacy 4.5 to 5.0
Member Appreciation 4.2 to 5.0
Education and Referral 1.8 to 2.0
Those who job functions mostly involve opening deposit and/or loan accounts:
Tangibles 4.5 to 5.0
Reliability and Accuracy 4.5 to 5.0
Member Advocacy 4.5 to 5.0
Member Appreciation 4.5 to 5.0
Education and Referral 0.0
Those who job functions mostly involve both opening new accounts and processing transactions
Tangibles 4.5 to 5.0
Reliability and Accuracy 4.5 to 5.0
Member Advocacy 4.5 to 5.0
Member Appreciation 4.5 to 5.0
Education and Referral 1.5 to 2.0
