Experience is deeper than a touch point or a systemGood product experience can be undermined by poor overall customer experienceIt is hard, nearly impossible, to change human behavior.Yes, people will buy a better mousetrap. That is because their behavior doesn’t have to change ... they are already using mousetraps. No business can afford to educate customers
Fundamentally RATIONALFeatures copied from like-products or servicesStuff from people’s heads…BLINKERED – tends to focus on a particular problem out of context to the wider ecosystem into which it fits.Planning a product or service can be myopic – focuses on the problem at hand, not at the context into which it fits.
Silver tongues win influence, even when they’re wrongDisharmonious teams are less productiveTeams who argue with one another tend to feel less like doing work.Unhappy folk do not pull equally on the yoke
Tech drives business processBusiness process defines Customer ExperienceDesign as an afterthoughtDoes anybody feel like they’re a comet? Does anybody
Products and services are about enabling people to achieve their goals. Not about the product itself.
Post launch… you need to keep testing and ongoing dialogue
Financial necremancySome financial products can be really hard to explain to customers, so people gravitate toward metaphors. We can design touchpoints, but how do you design the experience people essentially have in their heads. e.g. Foreign exchange risk management is commonly perceived as ‘gambling’ because people glom on to inappropriate metaphors.Products are very much about achieving a goal. Not about the product itself.- Financial services are a little further removed from the goal. E.g. Network TEN provides entertainment, but the programming has a close association with the activities that enable that.
Predictability is a fundamental tenet of good experience.Unpredictability needs to be really carefully managed.- Allow customers to mitigate their fear early in processes - e.g. Royal Bank of Scotland in the reverse mortgage product allows customers to state how much equity they want to retain up front.
Products have owners- Channels have owners Nobody owns the end-to-end customer experience. Customer does something in one channel, but that is often unknown to staff in the other channel till the customer tells them. This makes the bank look unintelligent.
People’s needs and goals change over time. Products need to change with them.e.g. Deposits products need to focus on the needs of various life-stages. E.g. Budgeting may be important earlier and later in life…Tension between targeting and marketing toward a demographic, when customers don’t stay in one demographic forever.Jeremy Walker from BT pointed out: The average Super Annuation product lasts 60 years. But CEOs last for 3-5! Changes in bank strategy (with the CEO) can push and pull the customer and degrade the experience.
You build new systems atop the old systems – Ultra secure, ultra reliable. These systems take time to change and change introduces risk.To mitigate riskTo reduce costs