This was presented at the Marks Webb, Financial Services conference in Russia. It talks about customer life cycles in Financial Services and recommendations of improvements.

1. Ends.
Joe Macleod. @mrmacleod @ClosureExp
closureexperiences.com
Why we overlook endings.
And why we shouldn’t.

2. 1. 2. 3.
Any consumer experience can be
broken down into 3 stages
On-Boarding Off-BoardingUsage
Joe Macleod. @mrmacleod closureexperiences.com

3. On-Boarding Off-Boarding
Usage
Fuelled by commerce Fuelled by society
Language of self actualisation Language of safety and security
The start of the relationship. It is the conclusion of the relationship.
engagement
time
Starting Experiences Closure Experiences
Joe Macleod. @mrmacleod closureexperiences.com

4. Fuelled by commerce Fuelled by society
Language of self actualisation Language of safety and security
The start of the relationship. It is the conclusion of the relationship.
engagement
time
Advertising
Starting Experiences Closure Experiences
On-Boarding Off-Boarding
Usage
Joe Macleod. @mrmacleod closureexperiences.com

5. Fuelled by commerce Fuelled by society
Language of self actualisation Language of safety and security
The start of the relationship. It is the conclusion of the relationship.
engagement
time
Advertising
Marketing
Starting Experiences Closure Experiences
On-Boarding Off-Boarding
Usage
Joe Macleod. @mrmacleod closureexperiences.com

6. Fuelled by commerce Fuelled by society
Language of self actualisation Language of safety and security
The start of the relationship. It is the conclusion of the relationship.
engagement
time
Advertising
Marketing
Packaging
Starting Experiences Closure Experiences
On-Boarding Off-Boarding
Usage
Joe Macleod. @mrmacleod closureexperiences.com

7. Fuelled by commerce Fuelled by society
Language of self actualisation Language of safety and security
The start of the relationship. It is the conclusion of the relationship.
engagement
time
Advertising
Marketing
Packaging
T&Cs
Starting Experiences Closure Experiences
On-Boarding Off-Boarding
Usage
Joe Macleod. @mrmacleod closureexperiences.com

8. Fuelled by commerce Fuelled by society
Language of self actualisation Language of safety and security
The start of the relationship. It is the conclusion of the relationship.
engagement
time
Advertising
Marketing
Packaging
T&Cs
Starting Experiences Closure Experiences
On-Boarding Off-Boarding
Usage
Joe Macleod. @mrmacleod closureexperiences.com

9. Fuelled by commerce Fuelled by society
Language of self actualisation Language of safety and security
The start of the relationship. It is the conclusion of the relationship.
engagement
time
Advertising
Marketing
Packaging
T&Cs
Emotionless death
Starting Experiences Closure Experiences
On-Boarding Off-Boarding
Usage
Joe Macleod. @mrmacleod closureexperiences.com

10. Fuelled by commerce Fuelled by society
Language of self actualisation Language of safety and security
The start of the relationship. It is the conclusion of the relationship.
engagement
time
Advertising
Marketing
Packaging
T&Cs
Emotionless death
Lingers forever
Starting Experiences Closure Experiences
On-Boarding Off-Boarding
Usage
Joe Macleod. @mrmacleod closureexperiences.com

11. Fuelled by commerce Fuelled by society
Language of self actualisation Language of safety and security
The start of the relationship. It is the conclusion of the relationship.
engagement
time
Advertising
Marketing
Packaging
T&Cs
Emotionless death
Lingers forever
Denial
Starting Experiences Closure Experiences
On-Boarding Off-Boarding
Usage
Joe Macleod. @mrmacleod closureexperiences.com

12. Why don't we create
consumer endings?
Joe Macleod. @mrmacleod closureexperiences.com

13. A brief history of
endings

14. Life was hard
El Ángelus. Jean-François Millet. CCJoe Macleod. @mrmacleod closureexperiences.com

15. Death was familiar
Ars Moriendi. Meister E.S.Joe Macleod. @mrmacleod closureexperiences.com

16. Heaven a reward
Belshazzar’s Feast. John MartinJoe Macleod. @mrmacleod closureexperiences.com

17. Funerals meaningful
A Burial at Ornans by Gustave Courbet. CCJoe Macleod. @mrmacleod closureexperiences.com

18. Plague arrived
Antonis MilanosJoe Macleod. @mrmacleod closureexperiences.com

19. Meaningless death
Scène de la peste de 1720 à la Tourette by Michel SerreJoe Macleod. @mrmacleod closureexperiences.com

20. Mis-managed
Raphael's Portrait of Leo X with cardinals Giulio de' MediciJoe Macleod. @mrmacleod closureexperiences.com

21. Protestant uprising
Scène de la peste de 1720 à la Tourette by Michel SerreJoe Macleod. @mrmacleod closureexperiences.com

22. Fasting
Christ in the Desert. Ivan Kramskoi. 1872Joe Macleod. @mrmacleod closureexperiences.com

23. Jobs
Eisenwalzwerk. Adolph MenzelJoe Macleod. @mrmacleod closureexperiences.com

24. Investment
Joe Macleod. @mrmacleod closureexperiences.com

25. Joe Macleod. Closure Experiences. CWD Negative Collection, Orange & District Historical Society
Work less? Buy more?

26. Medicine & science
manages death
Portrait of Dr. Samuel D. Gross.Thomas EakinsJoe Macleod. @mrmacleod closureexperiences.com

27. We hid it away
Gross Clinic on display at the Army Post HospitalJoe Macleod. @mrmacleod closureexperiences.com

28. Consume Heaven on
Earth without end
American Abundance for allVintage ad Wheaties sweepstakes 1958Joe Macleod. @mrmacleod closureexperiences.com

29. Endings had
value and a
vocabulary
Endings are hidden,
overlooked and
unwanted
Joe Macleod. @mrmacleod closureexperiences.com

30. Modern endings
hidden, overlooked and unwanted

31. Hidden ending.
Canon Ink Cartridge
On-Boarding Off-BoardingUsage
Joe Macleod. @mrmacleod closureexperiences.com

32. Pensions
Pensions need to connect
a Starting experience and
a Closure experience over
decades.
1 in 4 of these pension
pots goes missing through
lack of contact.
Age Concern
Average of 11 employers in
our lifetime.
Department for Work and
Pensions UK
20s 65s40 years of v i s i b i l i t y
lifespan
Joe Macleod. @mrmacleod closureexperiences.com

33. Revenge porn
The un-ending
nature of digital
assets expose us.
One in ten young women
have been threatened
with public posting of
explicit images in US.
Data Society and the Centre for Innovative Public Health Research
Kevin Bollaert being prosecuted. http://www.news.com.au/Joe Macleod. @mrmacleod closureexperiences.com

34. HTC One Mini Packaging
Some packaging
avoids the real end.
Starting experiences wrapped
up as long term responsibility
Closure experience overlooked
as important or actionable
Joe Macleod. @mrmacleod closureexperiences.com

35. services
products
digital
…the consequences
we see in
Joe Macleod. @mrmacleod closureexperiences.com

36. The
Psychological
Impact of
Closure

37. On-Boarding Off-Boarding
It is the effort it takes to get the customer to
commit to the product or service relationship.
The start of the relationship.
It is the effort it takes to neutralise the
effects of the engagement. To complete
the agreed engagement. It is the
conclusion of the relationship.
Fuelled by commerce Fuelled by society
Language of self actualisation Language of safety and security
Maslow’s expanded hierarchy of needs. 1970
Joe Macleod. Closure Experiences.

38. Ernest Becker
“most human action is
taken to ignore or avoid
the inevitability of death”
Denial of Death
Terror
Management
Theory
Joe Macleod. @mrmacleod closureexperiences.com

39. Terror Management Theory
Kasser and Sheldon
2000
Researchers attempted to
connect consumption to
Terror Management Theory
Liberation. M.C. Escher 1955Joe Macleod. @mrmacleod closureexperiences.com

40. Terror Management Theory
Kasser and Sheldon
2000
“suggested that concerns
about mortality, although sub-
conscious, strongly influence
our behaviour and aspirations
about material goods and
economic status”
Joe Macleod. @mrmacleod closureexperiences.com

41. “people judge experiences
based on their Peak (an intense
moment of the experience) and
at their End”
Peak End Rule
Daniel Kaheman. 1990
Joe Macleod. @mrmacleod closureexperiences.com
Thinking fast
and slow

42. time
feeling
in-different
agony
joy
+peak
end
-peak
Peak End Rule
Daniel Kaheman. 1990
Joe Macleod. @mrmacleod closureexperiences.com

43. Peak End Rule
Daniel Kaheman. 1990
Joe Macleod. @mrmacleod closureexperiences.com

44. Closure and
Financial
Services

45. Government
The only service your born into.
Petr Kratochvil. CCJoe Macleod. Closure Experiences.
To leave; vote, move or die

46. By English: Gerry J. Gilmore [Public domain], via Wikimedia CommonsJoe Macleod. Closure Experiences.
Divorce
Never ending story
£205 Billion
Divorce rates doubled between 1970
(58,239) and 1980 (148,301)
Marriage/Divorce
Marriage ended by husband
by saying “Talaq" 3 times
5 reasons considered
grounds for divorce in UK
1. Adultery,
2. Un-reasonable behaviour,
3. Desertion,
4. Lived apart for 2 years and agreed to
get divorced
5. Lived apart for 5 years without
agreement
UK Government
Divorce with
Blame
Immediate
Divorce
JanVan Eyck.Arnolfini Wedding Portrait
Russian revolution in 1917.
• Helped people leave abusive
relationships.
• Lowered the incidents of wives
committing suicide by 8-16%
• 30% decrease in domestic
violence
Betsey Stevenson and Justin Wolfers
No Fault
Divorce
• 1 in 11 Muslim women are
survivors of triple Talaq
• Vast majority receiving no
compensation.
Bharatiya Muslim Mahila Andolan (BMMA)

47. Occupy Wall StreetJoe Macleod. Closure Experiences.
Global Financial Crisis.
2007-10
“And as so often in the history of
financial crashes, humble consumers
also joined in the collective delusion
that lasting prosperity could be built
on ever-bigger piles of debt.”
The Economist
“Too big to fail”
examples our denial in
the inevitable of ends.

48. Joe Macleod. Closure Experiences.
Mis-selling
£24.2 billion fined since 2011
The UK Financial Conduct Authority
Payment Protection Insurance - PPI
“one customer paid £20,838 over the loan term,
despite maximum reclaim was £31,000”
The UK Financial Conduct Authority

49. Joe Macleod. Closure Experiences.
Gyms
Attrition rate of gyms 30-50%.
Even the best gyms are losing 30% each year
www.ptdirect.com
2 in 5 people had trouble canceling contracts.
1 in 4 people had a notice period over 1 month.
1 in 5 found they couldn't leave due to being
tied in for minimum term.
which.co.uk
Gyms deny endings
with contract lock-ins.
Opportunity to create a best in class Closure
Experience - celebrate the ending.

50. Price comparison sites
These are, in effect, Closure Experience sites.
A doubt can begin the process of the end.
Nearly 60% of market sales.
About 21m of the 36m motor, home and travel insurance policies switched online in the UK.
Joe Macleod. Closure Experiences.
The Role Exit Process. Helen Rose Fuchs Ebaugh.

51. Thad Zajdowicz. CCJoe Macleod. Closure Experiences.
Credit cards
US household debt as of Q1
2016, is $132,086
www.nerdwallet.com
Credit cards US average $15,310
Consumer rewarded for more debt.
Never rewarded for paying back.
Gaming debt.
Not celebrating
good debt payers.

52. Switch Guarantee
“people change their bank accounts, on average, every 26 years”
“75% of personal current account holders have never switched, with nearly 1 in 5
saying this was because of the hassle and potential risks.”
Current Account Switch Service will let
consumers safely and reliably switch their
accounts between banks in 7 days. Sept 2013
Independent Commission on Banking Report
Financial Services industry
Big industry find it hard to create endings.
So watchdogs have to do it for them.

53. Mortgages
Jameslwoodward
There should be a period of
reflection and celebration.30 years of
payback shouldn't
end in a moment
Sadly debt is only celebrated, when more debt is added.
Paying off debt is not celebrated,
avoiding a Closure experience for the user.
Joe Macleod. Closure Experiences.

54. Financial
Services
- more endings

55. Joe Macleod. Closure Experiences.
Historically.
Bank account.
Average usage 26 years. pre 2008.
Life expectancy 73.Retire at 65Adult at 18 years Employment 45+ years
Mortgage. 20-30 years.
Pension. Entire working life.
Ends were rare in Financial Services.

56. Joe Macleod. Closure Experiences.
Short term products?
A study from Adobe finds that, on
average, mobile apps achieve half
their lifetime usage in the first six
months.
Adobe
7 day switch.
Legal expectation in UK.
Apps half-life within 6 months
Pensions. Technology, Legislation, and market
conditions have created opportunity
for quicker turnover of products.
Financial Services products end more frequently and quicker.
11 different pension pots
According to UK Department of Work and Pensions
Banking.
Technology.
According to Gallup, the average US citizen has 3.7 Credit Cards.
Credit Cards. 3.7 Credit Cards per US.
Usage of banking apps increased in UK from 10% in 2011 to 34% in 2015

57. Joe Macleod. Closure Experiences.
Now.
Bank account.
Engagement driven
through apps / tech
Mortgage.
Remortgage market
Pensions. 11 on average
Ends now common in
Financial Services.
Life expectancy 73.Retire at 65Adult at 18 years Employment 45+ years

58. Joe Macleod. Closure Experiences.
And we are LIVE!

59. Joe Macleod. Closure Experiences.
And we are DEAD!

60. A good
Closure Experience
will be…

61. A good Closure Experience will be…
Consciously Connected to the
rest of the experience through
Emotional Triggers that are
Actionable by the user in a
Timely manner.
Joe Macleod. @mrmacleod closureexperiences.com

62. Consciously Connected
Consciously Connected to the
rest of the experience through
Emotional Triggers that are
Actionable by the user in a
Timely manner.
Joe Macleod. @mrmacleod closureexperiences.com

63. CCO by Ryan Stone
Epson’s PaperLab
Visible ending and rebirth.
Joe Macleod. @mrmacleod closureexperiences.com

64. Emotional Triggers
Consciously Connected to the
rest of the experience through
Emotional Triggers that are
Actionable by the user in a
Timely manner.

65. Marie Kondo Tidying Technique
New York Times
An emotional goodbye brings reflection.
Joe Macleod. @mrmacleod closureexperiences.com

66. Actionable
Consciously Connected to the
rest of the experience through
Emotional Triggers that are
Actionable by the user in a
Timely manner.

67. Trov Insurance
On demand
insurance.
Challenging the blanket
time based insurance
commitments
Joe Macleod. @mrmacleod closureexperiences.com

68. Timely
Consciously Connected to the
rest of the experience through
Emotional Triggers that are
Actionable by the user in a
Timely manner.

69. A planned death in 7 years,
brings opportunities for Kia.
CCO by Ryan Stone
Kia
Joe Macleod. @mrmacleod closureexperiences.com

70. Techniques and Models

71. 71
Closure Experiences
There are 5 main types of closure
experiences the user has with Services.
Joe Macleod. Closure Experiences.
Time out Credit out
Task/Event
completion Withdrawal Lingering
2 week holiday, 3 year
degree, 1 year
software subscription,
Pay As You Go,
Points on your
driving license
Parcel delivered, boiler
fixed, car serviced,
concert watched,
operation successful,
money transferred
Break the contract,
leave the film early, end
the relationship, default
on loan.
A pension that you no
longer pay into. An
unused gym membership
2 3 4 51
2.

72. 72
Aftermath Targets
Joe Macleod. Closure Experiences.
Rebirth Reflection Rest
Released to take part in
another experience
Look back at a
wonderful experience
Provides an
opportunity to rest, a
moment of peace
Resentment
I could have made more
of that opportunity
Regret
I feel cheated, and its
someones fault.
Desirable Avoidable
On-Boarding
Usage
Off-Boarding
Where will your customer end up?

73. What can you do?

74. 1. Think about it.
2. Talk about it.
3. Audit.
4. Design it.
5. Plan it.

75. Think about it.
!

76. Talk about it

77. 77
Joe Macleod. Closure Experiences.
Q1. Do we have a conscious ending?
Q2. What type of ending do we have?
Time Out, Credit Out, Task/Event completion,
Withdrawal, Lingering?
Q3. Are consumers happy.
What is their aftermath of our business?
Audit
Ask yourself some questions.

78. 78
Joe Macleod. Closure Experiences.
When designing the end think about these characteristics.
Is it Connected to the beginning of the experience?
Is it Emotional and meaningful for the user, like your adverts?
Is it Actionable by the user so the acknowledge it happening?
Is it done in a Timely manner?
Design it
Type of ending should you have?
Should we change the type of ending (Ex:Time Out to Credit Out).

79. 79
Joe Macleod. Closure Experiences.
5 x 55% of your project time
5 years out
To reveal your products
off-boarding needs…
Plan it
When developing new products and services
don't forget to plan the end in.

80. Joe Macleod. @mrmacleod. @ClosureExp www.closureexperiences.com
End.

81. Ends.
Get the book on
Amazon.
Get the ebook on
Amazon, iBooks, Smashwords
Joe Macleod. @mrmacleod. @ClosureExp www.closureexperiences.com

82. Discount code…
CG78B
1. Go to smashwords.com
2. Find Ends.
3. Enter code when asked.
Get the book on
Amazon.
Get the Ebook on
Amazon, iBooks, Smashwords
Joe Macleod. @mrmacleod. @ClosureExp www.closureexperiences.com