We all aspire to find ways to break new ground. To help our companies innovate. We look for new paths to find that place no one in our industry has gone. Sometimes, innovating is the difference between thriving and barely surviving.
How can Financial Services firms prosper in a post-Fiduciary Rule world? Looking at the rule’s potential implications through a design thinking lens can provide insights on best practices for a customer-driven world, especially from experiences in digital channels.
Market tastes and product economics change quickly today, making it challenging for even well crafted digital experiences to stay relevant. A modern design and production process (ideation – design/build – testing) should be built on a foundation of prototyping. While in the past prototyping may have been considered an added expense, it’s now more affordable, approachable, and key to managing ongoing investments in digital.
The iPhone is 10 years old. The App Store, once the driving engine behind innovation, is now boring. And in that time, your company has gone mobile. It’s fiddled with an app of its own. It’s optimized checkout flows, gone all in on social, and remember toying with that wearables idea? The point is: tech is looking less like the Wild West, and more like settled business on some fronts. For now at least. Out there looming are technologies that could upend various sectors once again. New digital experience models could change how consumers and businesses discover, shop, and use products, and reshape the perception of products, themselves. Here are a few of the next-gen technologies to keep an eye on to stay on your toes.
You see them everywhere, and yet they came seemingly from nowhere. The ubiquitous Warby Parker frames. The chic Everlane tees. The new way to sleep by Casper. These newly established brands are becoming ecommerce juggernauts in the span of a few years.
The mobile web and app wave hit us years ago, but many retail brands are still adjusting to the new buying reality. More people now browse the web on mobile devices than desktops. Customers discover brands in different ways, learn about products with a mix of old and new channels, and expect an easy and convenient buying process.
When done effectively, creating retail experiences driven by personalization can increase both conversion and customer satisfaction. Here are some rules for the road when planning and executing personalization efforts.
User-centered design principles can aid Financial Services companies looking to build beyond their bricks & mortar footprint. Products, processes, and systems need to be crafted through a customer-centric lens. This means adopting more of a Fintech mindset and culture, placing a premium on the digital customer experience and developing new business models. Here are four ways to apply user-centered design today.