Workshop: Solving for the VoC and VoB through Zero-Based Design

1. Zero-Based Design User Workshop Gathering Real Pain Points from Real People

2. Sam Borowy Sr. Experience Designer T. Rowe Price Innovation Lab samborowy.com samantha_borowy@troweprice.com Kelly Driver Sr. Experience Designer T. Rowe Price Innovation Lab kellydriver.com kelly_driver@troweprice.com

3. Huge, giant disclaimer: We are designers. We are not ﬁnance professionals. Please do not take anything you see in this presentation as ﬁnancial advice or insider secrets.

4. “This is absolutely great. I believe that I am the person who tipped the scales to make this website change. I was completely frustrated trying to make a contribution to my Roth IRA. I ultimately spoke to a person and suggested such a change. This is just what I wanted. Thank you so much.”

5. What is Zero-Based Design (ZBD)? Complete re-imagination of the end-to-end customer and associate experience, co-created with the customer through a true “Test and Learn” process. Value-based innovation from front-end experience to back-end integration focusing on biggest pain points, areas of impact, signature moments, etc.

6. ZBD Process Flow Kick-oﬀ User Involvement Subject Matter Expert (SME) Involvement FE-to-BE Walk-through Customer Research Workshop Design Team Ideation ZBD Workshop MVP Feature Voting Early User Feedback Above the Line / Below the Line Dev Sprints, Design & Testing Iterate & improve based on user feedback Launch MVP Deﬁne MVP

7. The purpose of the user workshop Gain empathy through listening and working with our clients Collect pain points straight from the users Identify phases of the process in user’s mind Dig deeper and validate hypothesis Inform the creation of personas VOICE OF THE CUSTOMER

8. ABOUT As a young mom of two with a burgeoning career at Under Armour, Kim is all about laying a firm financial foundation for her family. She and her husband both already auto-transfer portions of their paychecks into retirement plans, but Kim wants to become more involved in growing her portfolio. While astute, engaged, and hungry for more information, Kim also has an independent streak that keeps her from working directly with a money manager. Kim wants to feel like she understands all of her options, and isn’t being pressured into plans or options that aren’t in her best interest. She’s in it for the long haul, and wants to feel informed and in control. SCENARIO Kim recently earned a promotion and a $15k end of year bonus. She wants to split her bonus between existing mutual funds and add promising new funds to her portfolio. She’s not sure how to best divide her contributions, nor what new funds may complement her existing portfolio. TECHNOLOGY • Primarily uses laptop or mobile to do banking • Would be interested in some sort of “wizard” to help her learn and step through investing. Income: $165,000/yr. Investment Assets: $75,000 Employment Status: Full-time Experience Needs: Kim, 36 Young Accumulator Comfort with technology? Fearful Comfortable ExpertFluent Subject Knowledge Engagement Beginner PassiveExpert Highly Active Tablet Mobile WearablePhone Desktop/LaptopBroker/In-person Voice “My family is my top priority, and I want to make choices that benefit them, not someone else’s bottom-line.” FunctionalJobs EmotionalJobs Social Jobs Feel safe (financially) & secure Responsible & set a good example Be guided through the process Able to do things today & not feel budget strapped Advisor to provide gaurd rails Check performance of existing funds Quick access to answer any questions Feel like a good parent Feel prepared for unforseen events/ emergencies Move money on the go Available for fun activities Relaxed & on top of things 10% Inform Personas

9. A closer look into the User Workshop

10. User workshop example agenda Welcome & Introductions Overview of the Day Ground Rules Warm-up and Team Breakout Exercise: Jobs to be Done Exercise: Defining Your Journey Lunch Exercise: Improving Your Journey Solution Presentations Wrap-up

11. Be Open The Rules Be Present Participate Don’t Judge

12. A great warm-up exercise that becomes a “thing”

13. Pick an experience (Ideally, we would have recruited you because you all had a recent experience in one area) Think of a recent on-boarding experience you have had that needs improvement Examples: • Checking into your hotel • The first week at a new job • Signing up for health insurance • Getting cable in a new home

14. “This part of the process is still very manual for us.” Calvin T. Rowe Price Employee, 4 yrs. Uncover Unseen Opportunities Functional Jobs Emotional Jobs Social Jobs Jobs to be Done

15. Your Journey Team Name: Name the Phases of Your Journey Activity Touchpoints (Current) Activity Touchpoints (Future) Pains/Frustrations Must-Haves (basics) Nice-to-Haves “Wow”s Explanation: Explanation: Explanation: Explanation:

16. Journey Map 5 MIN. 5 MIN. 5 MIN.

17. Write down the activities in your journey 5 MIN. Do this individually... Write out each activity on a separate post-it for your end-to-end journey Think about the steps you take before, during, and after

18. Map out the journey as a team Share your process and converge with the rest of the team Group like post-its on the journey map Do you have the full picture? • When are you “done” with this task? • Did you need to do anything before to prep for this task? 5 MIN.

19. Name the phases of your journey Create 4 main themes for your journey 5 MIN.

20. Identify pain points (This is actually, the main reason we are here.) Ask users to individually write out pain points for each of the phases Add to the Journey Map You may need to ask “why?” and probe deeper into possible frustrating areas Have users vote on pain points they feel are the most painful 10 MIN. (+ 5 MIN. FOR VOTING)

21. Solution time! (But... this is the most fun for the participants!) Focus on solving for pain points with the most votes Four Step Sketching: • Gather info take notes • Rough solution sketches (go for quantity) - Remember: One idea per post-it - Map out as “Must-Haves,” “Nice-to-Haves,” “Wows” - Vote on favorite solutions with stars • “Crazy 8’s” on a favorite idea • Storyboard to expand on a single solution (Yes, you have to draw it out...) 25 MIN.

22. Adopted from Google Ventures Get sketching! 5 MIN. 8 MIN. 5 MIN. VOTE

23. Adopted from Google Ventures Rough Sketches 5 MIN. 5 MIN. 5 MIN. 5 MIN.

24. Adopted from Google Ventures Crazy 8’s 5 MIN. 5 MIN. 5 MIN. 8 MIN.

25. Time for a twist! Let’s get totally crazy! It’s hard to iterate one idea 8 times. Sometimes we need to push the users in the workshop... But, how? Pick a card or two and try to solve your problem like you are solving for an innovative company or a new requirement. Cards from Innovate Cards

26. Adopted from Google Ventures Solution Sketching 5 MIN.

27. Team Solution 5 MIN. 5 MIN. 5 MIN. 10 MIN.

28. Presentations

Workshop: Solving for the VoC and VoB through Zero-Based Design

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