THAT DONE IS
of the collective
realizations we had
process was that
we didn’t need it to
be perfect in year
one,” Josh shares.
“It needed to be
reliable, but not
Linda only worked
with sponsors with
whom her company
had a strong
was very helpful.
as we went, and, as
a result, we have
for next time,
email list size and
The team was
surprised at how
rate. In retrospect, it
makes sense that a
broadcast email from
a previously unknown
source might not be
allowed through bank
Next time, they’ll
have the sponsors
send the survey
TIMELINE: Build in
more time for each
stage than you think
you will need. “It is
surprising how much
time is needed to
review the questions
the research group
gleans from the
interviews,” Linda says.
LINDA: We utilized sponsors for credibility, widespread solicitation
of interview and survey participants, as well as dissemination of the
survey results. We did not require a financial commitment from the
sponsors this time, but we will in the future.
Choose sponsors that will provide the most benefit as collaborators. You will increase survey response if three things exist:
1. You have a good list that cares about the subject.
2. That list has a relationship with the company or person asking
them to participate.
3. There is a benefit for taking the survey, such as receiving the full
report or additional bonuses from sponsors.
We found another reason people wanted to participate in the
interview portion of the study: The targeted individuals care deeply
about this subject and want to be part of the solution. The opportunity to frame the content of the Credit Risk Readiness Study was a
JOSH: The CRRS is the first of its kind in the industry. Being first
is great for that reason. It’s also tough! Working with stakeholders,
sponsors, and survey respondents to convince them that this is
worth their time is difficult when they haven’t seen the value.
Should Linda continue to conduct this survey yearly, we believe
participation will continue to grow.
Communicate and Collaborate
JOSH: Working with Linda exposed us to the value of having clients
directly involved in the data-collection process. All of our past clients wanted to hand o; the entire project to us, and we’re certainly
equipped to handle that in the SRL. Linda’s desire to be involved
Live and Learn
resulted in high-quality data for her project, but it also allowed her to
have very valuable interactions with her target buyers that were not
sales oriented. As she interviewed the stakeholders for the research
project, she deepened relationships and began creating some buzz
for the research even before its release.
BRIAN: One of the challenges of managing the project was the shifting timelines. For example, we decided to run the survey early in 2018
instead of late 2017, so that Linda would not be sharing “old” news when
it came out. As the timeline shifted, we missed a few steps and did not
anticipate others. It all got done, and we’ll be clearer on specific steps
and timelines next time around.
LINDA: The interviews were so revealing and immediately set me at a
peer level with the chief credit o;cers. My training has been focused
at more junior-level credit professionals. The elevated conversations
have given me much more meaningful content for the association
presentations to directors and C-suite attendees because I understand
their concerns and can provide “color commentary” to go with the
survey results. I plan to continue the interviews on an ongoing basis,
as follow-up to the survey results. Instead of me asking for interviews,
the people I want to talk with are asking me to interview them!
To see the landing page
Linda uses to offer the
study as a lead magnet
and to request a copy of
the Credit Risk Readiness
Study report, visit