In The News
Business News from Send2Press Newswire
Recent News Stories from PRnetwire >> News Article
Edited by Christopher Simmons, senior news editor
REFLECTION POINT RESEARCH LLC ANNOUNCES SURVEY RESULTS FROM 'MEMBER EXPERIENCE METER(TM)' SURVEY
The first meaningful measure of a credit union's Web site performance from the member's perspective
SEATTLE, Wash. - Oct. 31, 2002 /Send2Press Newswire/ -- Reflection Point Research LLC, one of the first market research firms focused entirely on the customer experience information and consulting needs of credit unions and banks, has established benchmarks to provide critical information to decision makers and drive financial institution business development via the Web. Reflection Point Research recently reported the first-ever measured results of its survey of credit unions' Web site performances as determined by its own site users and membership.
The Member Experience Meter(tm) is the first and only measurement product available today for financial institutions, according to Glenn Christensen, president/CEO of Reflection Point Inc. and principal of Reflection Point Research LLC. The Meter incorporates actual member-Web site feedback of financial institutions and relates it to other key benchmarks from the best practice companies on the Internet today.
"There is plenty of room for improvement and there is plenty of reason to integrate this hallmark evaluation metric of the Member Experience Meter(tm) into a credit union's overall strategic plan," said Christensen. In this initial wave, those credit unions scoring the highest on the Member Experience Meter(tm) had 54% more active home-banking users, twice the penetration of bill payment usage, 38% higher average time spent on the site, twice the number of Web-user sessions each month, over twice the number of page views per user session, and most importantly to financial institutions of all types, over 150% higher monthly loan applications.
"In building this model of online performance for credit unions," said John Burshek principal of Reflection Point Research LLC, "we relied extensively on our past experience with leaders in the online world in general. We also provided measurement metrics that have a direct relation to the return on investment for a financial institution's online performance. Many firms can ask questions of site visitors but there are no other firms able to relate those site users' answers to an expected financial performance of a site."
This in-depth research and analysis is designed to give management and boards of directors the tools required to guide their financial institution's success, which ultimately, and most importantly, benefits their users. "We are continually striving to give credit unions and banks more in-depth information and control of their online future in the ever-increasing competitive challenge of retaining their valuable customers/members in the online world," said Christensen. "Management of members/customers online experience means finding ways to make doing business with their credit union or bank as easy, painless or rewarding as possible."
Reflection Point Research LLC of Kent, Washington brings together the strengths of Glenn Christensen of Reflection Point, Inc., long-time respected strategist and marketing consultant to credit unions and the financial industry, and John Burshek of The Arthur Group, Inc., market research expert for Fortune 500 companies on the online customer experience. Reflection Point Research provides a broad array of offline and online market research and Web usability analysis to the financial services industry.
This research is central to how its parent company, Reflection Point Inc., assists banks and credit unions improve their Web presence through a menu of e-business services including planning, design, development, marketing, and content management. Reflection Point's XML-based Web content management solutions assist financial institutions leverage their content across multiple channels and devices. Company information is available by visiting www.reflectionpoint.com.
# # #
Source of news:
Reflection Point Inc.
Read original news release in raw text format
View More Recent News Stories from PRnetwire
DISCLAIMER: the above news article is believed accurate but not guaranteed, and is based on news supplied by the company or organization mentioned and/or quoted in the story. Neotrope/Send2Press makes no claims of accuracy or suitability for any purpose. Your use of any information contained herein is done solely at your own risk, and you are fully responsible for using any information herein, or on sites mentioned or linked to in the article. Reproduction of this news article in any form requires written authorization use of the raw text version of the news has no restrictions other than you may not post our news on a website which offers either PR or newswire services, or Internet Promotion services..