This post lists a number of COVID-19 safety protocols overlooked when we recently mystery shopped 16 credit unions.
Continue ReadingCOVID Alert: 10 Novel Strategies Credit Unions Use to Help Members Feel Safe and Embrace Digital Banking
During a recent mystery shop of 16 credit unions, these innovative approaches to helping members feel safe and embrace digital banking caught our attention.
Continue ReadingBank and Credit Union 1-Minute COVID Quiz
Take the 1 Minute COVID Quiz to find out how your financial institution is scoring against the industry’s best practices.
Continue ReadingMystery Shop Report Tips for Financial Institutions
Mystery shop report tips that will help you get the most out of the data collected by financial institutions’ mystery shoppers.
Continue ReadingMystery Shop Reports: Tips to Make Them Easy to Follow, Concise, & Visually Impactful
Mystery shop reports tips that will help make your findings easy to follow, concise and impactful.
Continue ReadingCompetitive Intelligence During COVID-19
Best Practices Identified During COVID-19 Mystery Shopping: Canadian Tire: No delay in ordering / picking up merchandise What happened: L.L.Bean: Making it extremely easy to return clothing What happened: Worst Practices Identified During COVID-19 Mystery Shopping: No Frills: Lack of floor staff results in over-stressed cashiers reacting rudely to customers What happened: Staples: Contact centre not taking calls What happened:
Continue ReadingDon’t Confuse a Competitor Mystery Shop for a Traditional Mystery Shop
Comparing a competitor mystery shop to a traditional mystery shop is like comparing apples to oranges. Although they may seem similar at a glance, the two are actually vastly different. The approaches for a competitor mystery shop versus a traditional mystery shop differ significantly in goal, shopper selection, sample size and analysis. Goal Competitor mystery shop: The goal of a competitor mystery shop is to gather insights on competitor initiatives and best practices (e.g. telecom wants to see what other incentives competitors are offering smartphone buyers besides those listed on their websites). Traditional mystery shop: The goal for a traditional mystery shop is to assess staff service and compliance performance… Read More
Continue ReadingCross-Selling – Up-selling — Oh My!!
A lot of energy in mystery shopping is spent on assessing sales delivery, but for potential customers only. Often, only very basic questions are asked…“Did the rep probe your needs?” or “Did they ask for your business?” or “Did they ask to follow up?” Big mistake!! TIP – If you are going to mystery shop front line staff sales delivery, assess their efforts to up-sell and cross-sell your current customers as well. After 30 years of doing mystery shops, I can say with 100% certainty that companies are not spending enough time assessing how well their sales and contact centre staff encourage current customers to increase monthly spending. Take banking…Mortgage… Read More
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