Some of the key changes include:

No term limits: Today's members are reducing their number of visits to physical branches in favor of mobile options, remote deposits, internet choices and call center interactions. The driving forces are speed and efficiency. To remain relevant and competitive, credit unions must offer a complete set of interaction channels that deliver 24/7 access to accounts and core transactions. While the branch is and will remain a key element of a holistic customer engagement strategy, alternative channels are rapidly rising in importance.

Let's make a (good) deal: Members remain highly sensitive to the traditional competitive elements that are inherent in financial relationships. Rates for loans, deposit accounts and credit cards still matter. In addition to price, breadth of offerings and perceived stability are core considerations. While a personal relationship with a credit union manager helps defray some of the price sensitivity, credit unions need to remain aware of and competitive with the marketplace for its core offerings.

Their opinions matter: The importance of social influence on today's members is at its apex. Target members are more likely to be influenced by their personal and professional peer networks than by advertising. In addition, they are more prone to comment on their experiences, both positive and negative, in the social space than ever before.

With this evolution as the backdrop, credit unions must evolve as members evolve. Best-in-class credit unions are looking at ways large organizations are revamping their customer engagement models based upon the new, competitive landscape.

To adapt to the changing and evolving member, credit unions of all sizes have made forays into Member Relationship Management or Customer Relationship Management.

The list below represents a set of actions credit unions should consider when exploring CRM or MRM solutions to improve customer interactions.

Get in alignment: Credit unions must align their processes and tools to today's customers and their mindsets. With this in mind, consider the following:

• Do you have a social engagement policy?
• Are you leveraging structured social networks for inbound and outbound messaging?
• Do you offer referral incentives to members for their recommendations?
• Do your messages and offers focus on alignment to customer needs?

Map it out: Another important alignment centers on mapping customer touch points to the customer journey. This means that credit unions must identify customer demographic segments and life stages. This is important for developing segment and stage specific messaging and is key in ensuring that a CRM/MRM system is successful in providing recommendations for relevant products and services at the right time.

Go for the goals: Finally, any organization considering a move to a CRM/MRM solution must be specific about goals and metrics. To measure success, one must set internal and external benchmarks along with milestones and checkpoints along the way.

The right solution enables credit unions to build a social engagement policy to better meet members where they are. Moreover, these technologies help credit unions create channels to reach potential members at the right life stages.

Credit unions can benefit from these technology options without a lot of upfront expenditures or long implementation time. A set of basic business and IT questions (to a CRM provider) will help get credit unions on their way to maximizing technology to better manage the member experience.

Matthew Keenan is‎ vice president, CRM Product Management for the Atlanta-based enterprise software provider Aptean. He can be reached at 847-691-3964 or [email protected].