In this article, we’ll talk about why online reviews matter for credit unions and what your credit union can do to leverage reviews to your advantage.
It’s simple: your members trust online reviews. Studies show that 92% of consumers consult reviews before making a purchase decision. When your members are making a decision important as where to put their money, they’ll want proof that you can provide the best services. Online reviews serve as the most authentic social proof that you can ask for.
Reviews also help credit unions with local SEO. Google trusts reviews (especially those posted on its own site). According to Moz, reviews are the third-biggest factor determining local search ranking. The more reviews you have, the higher you’ll rank on search engines and the more visibility you’ll have to potential members.
Claim Your Profile on Prominent Review Sites
The first step is making sure that your members can find you on sites like Google and Facebook. That means that you should claim your profiles on these sites. Once your profiles are claimed, it’s easier for potential members to find your credit union.
Collect Authentic Reviews
The more reviews, the better. Typically, only members who feel that they had strongly negative experiences will leave reviews unprompted. This might give the wrong impression of your credit union to the public. That’s why it’s important to solicit reviews from your members. Doing this will help you get more well-balanced feedback from your members.
So how can you start getting more reviews? The answer is simpler than you might think: just ask. Studies show that 70% of consumers are willing to leave a review if asked.
Respond to Member Reviews
It’s not over once you get the review. Be sure that you’re regularly responding to your member reviews. After all, a simple “thank you” can go a long way when it comes to building loyalty. A sincere apology can also help you change the opinion of an angry member.
Plus, Google has confirmed that responding to reviews means a higher search ranking. By regularly responding to reviews, your credit union can start being more visible to potential members.
Change Operations Based on Customer Reviews
Remember, a negative review can be a blessing. While they can be unfair, they can also provide constructive feedback on how you can improve operations.
Let’s say that a member leaves a negative review, complaining about something like “bad service”. This can be a sign that some of your employees might need further training to better serve members’ needs.
Pay Attention to Competitors’ Reviews
It’s also important to pay close attention to your competitors’ reviews. This can provide you with important feedback that you can use to improve your own member experience.
If there’s a competitor in your area who has more reviews and a higher overall star rating than you, it shows that you might have some work to do. Maybe you should start spending more time sending review requests to your members.
Why You Should Use a Review Software
Collecting and managing your reviews manually is tough. With all the different review sites on the Internet, it takes a lot of work to find everything customers are saying about you. Here’s how Reputation Builder can help your business grow.
More Reviews Automatically
With Reputation Builder, you can get more reviews automatically. Reputation Builder software integrates with your business systems so that you don’t have to worry about sending review requests via text and email manually. Just set it and forget it.
Respond to Reviews Easily
There’s no need for you to flip through the hundreds of review sites on the Internet. You can view reviews from all over the Internet on the Reputation Builder dashboard. Reputation Builder also gives you review templates so that you can automatically respond to reviews.
Share Your Reviews with the World
Reviews don’t have to only stay on review sites. They can also be authentic marketing materials for your business. Reputation Builder allows you to automatically share glowing reviews on your Facebook and Twitter. Reputation Builder customers can also display a live review feed on their website simply by copy and pasting a simple line of code.
Get Insights with Natural Language Processing
If you’re running a multi-location credit union, chances are that it’s tough to get insights from member reviews. After all, sorting through each branch and trying to see what individual members care about the most can be overwhelming. Natural Language Processing makes the process easier.
Contact Reputation Builder
Online reviews matter for credit unions and businesses across all industries. That’s why you need Reputation Builder. Reputation Builder uses the best review software in the industry by according to G2. No other review software on the market offers the same range of different features, whether it’s scalability, advanced insights, or review collection.
Check out how Reputation Builder can help your credit union get and manage reviews.
Here’s what your credit union can do to start growing with the power of online reviews.