In its second annual presentation, the Credit Union sector is measured with hundreds of customers surveys that capture their most recent experiences with the checking, savings, or loan services offered by their preferred Credit Union. The customer survey data serve as inputs to CSIPR proprietary pantented model, which embeds customer satisfaction within a series of cause-and-effect relationships.
The Index is constructed by multi-variable aggregates each creating a latent variable composed of several questions that are weighted in the model. The questionnaire measure what affects satisfaction as well as the effects of satisfaction. The scores are reported on a 0 to 100 value scale. The standard model methodology quantifies the strength of each variable relationship on the left to those were the arrow points on the right. These arrows are defined as “impacts.” The model is self-weighting to use the full advantage of scientific rigor to explain customer satisfaction CSIPR on customer loyalty and therefore retention. An examination of the latente variables and impacts directions , users can determine what drivers of satisfaction , if improved, effects most on customer loyalty.
For credit unions, the CSIPR captures member opinions about fundamental sections of their experience. This model has proven to exceed traditional member feedback analysis and simple member satisfaction metrics. The cause-and-effect framework shows the impact of individual sections of the customers experience to learn how to increase satisfaction with the correct section to positively impact your business’s bottom line accurately and effectively.
Some of the sections covered are:
Quality & Satisfaction Research Institute
Driving Product & Service Excellence