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Building winning consumer services

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Matias Pietilä's presentation at Mobey Forum at 8/6/2017 in Edinburgh. Along the regulation changes for the finance sector, the whole industry is being reshaped. Hence it becomes more and more relevant to learn to build services with the time-tested best practices applied by winning consumer services. This presentation shares practical tips and tricks on the topic.

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Building winning consumer services

  1. 1. Mobey Forum: Democratisation of Payments
 8.6.2017, Edinburgh BUILDING WINNING CONSUMER SERVICES MATIAS PIETILÄ, HEAD OF DESIGN, QVIK #MobeyEDI2017
  2. 2. Mobey Forum: Democratisation of Payments
 8.6.2017, Edinburgh BUILDING WINNING CONSUMER SERVICES MATIAS PIETILÄ, HEAD OF DESIGN, QVIK #MobeyEDI2017 FEEL FREE TO SHARE ANY PHOTOS IF YOU FIND SOMETHING INTERESTING NB: This extended edition includes speaker notes on this kind of an overlay.
  3. 3. NOW WE’RE SO MUCH MORE WE WERE MOBILE FIRST @QVIK@MPIETILA#MobeyEDI2017 TALLINK SILJAWHIM YLE UUTISVAHTI MUSTI JA MIRRIAURINKOMATKAT
  4. 4. @QVIK@MPIETILA#MobeyEDI2017 MONETISE
 THE CONSUMER’S POCKET DATA-DRIVEN DESIGN DELICIOUS UX FAST TIME-TO- MARKET BLEEDING EDGE TECHNOLOGY BEYOND 
 OMNI-CHANNEL HARNESS ARTIFICIAL INTELLIGENCE EXCELLENCESENABLERS NOW WE’RE SO MUCH MORE WE WERE MOBILE FIRST
  5. 5. @QVIK@MPIETILA#MobeyEDI2017 MONETISE
 THE CONSUMER’S POCKET DATA-DRIVEN DESIGN DELICIOUS UX FAST TIME-TO- MARKET BLEEDING EDGE TECHNOLOGY BEYOND 
 OMNI-CHANNEL HARNESS ARTIFICIAL INTELLIGENCE EXCELLENCESENABLERS NOW WE’RE SO MUCH MORE WE WERE MOBILE FIRST I come from a company called Qvik. We like to call ourself the leading mobile agency in Finland, serving both interesting startups and established bigger players. We’ve been mobile-first since 2008 and recently we’ve also ventured on new domains, namely monetising consumers’ pocket, omni- channel solutions and harnessing AI and machine learning. The on-going democratisation of payments is directly connected to our first corner stone of enabling monetisation and that is the reason why we’re here today.
  6. 6. BUILDING WINNING CONSUMER SERVICES WHY SHOULD YOU CARE? 2 MOMENTS OF TRUTH BEST PRACTICES 1 2 3 @QVIK@MPIETILA#MobeyEDI2017
  7. 7. #PSD2 #GDPR CHANGING LANDSCAPE @QVIK@MPIETILA#MobeyEDI2017 #FINTECH
  8. 8. #PSD2 #GDPR CHANGING LANDSCAPE @QVIK@MPIETILA#MobeyEDI2017 #FINTECH I don’t want to preach to the choir: you likely know much better than I do what’s going on. Thanks to changes in regulation, new opportunities emerge and new players are about to enter the market.
  9. 9. COMPETING ON A LEVEL FIELD @QVIK@MPIETILA#MobeyEDI2017
  10. 10. COMPETING ON A LEVEL FIELD @QVIK@MPIETILA#MobeyEDI2017 Back in the day it used to be that each bank had its own service, serving its own customers. If the UX wasn’t too good, it wasn’t such a big deal, since few people would switch banks based on UX alone.
  11. 11. COMPETING ON A LEVEL FIELD @QVIK@MPIETILA#MobeyEDI2017
  12. 12. COMPETING ON A LEVEL FIELD @QVIK@MPIETILA#MobeyEDI2017 Now, thanks to PSD2, it seems likely that the one with then nicest experience and the most compelling value proposition will win the game. And it might happen that the new dominant player won’t be a bank at all but a startup. And existing players might have to accept a reduced role in the value chain.
  13. 13. @QVIK@MPIETILA#MobeyEDI2017
  14. 14. @QVIK@MPIETILA#MobeyEDI2017 Not to forget the new major players entering the market.
  15. 15. @QVIK@MPIETILA#MobeyEDI2017
  16. 16. @QVIK@MPIETILA#MobeyEDI2017
  17. 17. @QVIK@MPIETILA#MobeyEDI2017
  18. 18. @QVIK@MPIETILA#MobeyEDI2017 Wildly successful Mobile Pay by Danske bank is a good example of taking this into account smartly. They have built a useful P2P money transfer service that’s open for customers of any bank. This way they are building customer base in preparation for PSD2. If you analyse the service closer, you see how the apply many of the principles mentioned in this presentation.
  19. 19. TIME SPENT IN APPS IS STILL GROWING MOBILE IS LUCRATIVE @QVIK@MPIETILA#MobeyEDI2017
  20. 20. @QVIK@MPIETILA#MobeyEDI2017 http://www.appannie.com/intelligence TIME SPENT IN APPS IS STILL GROWING
  21. 21. @QVIK@MPIETILA#MobeyEDI2017 http://www.appannie.com/intelligence TIME SPENT IN APPS IS STILL GROWING Another topic is that it’s increasingly hard to get users onboard. We can see that time spent on mobile apps is still growing. Despite the critique, it’s still the winning channel. http://files.appannie.com.s3.amazonaws.com/reports/ 1705_Report_Consumer_App_Usage_EN.pdf
  22. 22. THE WINNER TAKES IT ALL BUT MOBILE IS HARD, TOO @QVIK@MPIETILA#MobeyEDI2017
  23. 23. @QVIK@MPIETILA#MobeyEDI2017 THE WINNER TAKES IT ALL http://www.appannie.com/intelligence
  24. 24. @QVIK@MPIETILA#MobeyEDI2017 THE WINNER TAKES IT ALL http://www.appannie.com/intelligence At the same time we see that the time is divided among only a small number of apps. A typical user in mostly any country will only use about 10 apps a month. How do you ensure you fit in?
  25. 25. 0 APPS / M @QVIK@MPIETILA#MobeyEDI2017 Source: Comscore, @andrewchen HALF OF US USERS AFTER 3 DAYS 77% DAU LOST AFTER 90 DAYS 95% DAU LOST APP FATIGUE
  26. 26. 0 APPS / M @QVIK@MPIETILA#MobeyEDI2017 Source: Comscore, @andrewchen HALF OF US USERS AFTER 3 DAYS 77% DAU LOST AFTER 90 DAYS 95% DAU LOST APP FATIGUE Half of the people in the US don’t install any single new app on an average month. And it’s pretty normal that an app will lose most of its users in just 3 months.
 
 http://www.comscore.com/Insights/Presentations-and-Whitepapers/ 2016/The-2016-US-Mobile-App-Report http://andrewchen.co/new-data-shows-why-losing-80-of-your- mobile-users-is-normal-and-that-the-best-apps-do-much-better/ https://thenextweb-com.cdn.ampproject.org/c/s/thenextweb.com/ contributors/2017/05/28/2017-beginning-end-app-economy/?amp=1
  27. 27. BUILDING WINNING CONSUMER SERVICES WHY SHOULD YOU CARE? 2 MOMENTS OF TRUTH BEST PRACTICES 1 2 3 @QVIK@MPIETILA#MobeyEDI2017
  28. 28. CUSTOMER FACTORY METAPHOR @QVIK@MPIETILA#MobeyEDI2017 Adapted from: Scaling Lean, Ash Maurya (2016) ACQUISITION 1 ACTIVATION 2 REVENUE 4 REFERRAL 5 RETENTION 3
  29. 29. CUSTOMER FACTORY METAPHOR @QVIK@MPIETILA#MobeyEDI2017 Adapted from: Scaling Lean, Ash Maurya (2016) ACQUISITION 1 ACTIVATION 2 REVENUE 4 REFERRAL 5 RETENTION 3 Customer factory metaphor by Ash Maurya is based on Dave McClure’s pirate metrics model. The name comes from the fact that if you put the letters in a row, it becomes AARRR which is something that pirates used to say. Allegedly. Every service will have these phases in some form. The question is, do you explicitly design to optimise the steps?
  30. 30. CUSTOMER FACTORY METAPHOR @QVIK@MPIETILA#MobeyEDI2017 Adapted from: Scaling Lean, Ash Maurya (2016) ACQUISITION ACTIVATION REVENUE REFERRAL RETENTION
  31. 31. CUSTOMER FACTORY METAPHOR @QVIK@MPIETILA#MobeyEDI2017 Adapted from: Scaling Lean, Ash Maurya (2016) ACQUISITION ACTIVATION REVENUE REFERRAL RETENTION The really interesting questions are how do you activate your new users and how do you get them to come back.
  32. 32. RESULTS FROM A CUSTOMER CASE Week 43 2016Week 29 2016Week 15 2016Week 01 2016 +37O% REACH application opened or push notification received +65% DOWNLOADS iOS and Android Growth hacking started +44% WAU weekly active users Peaks caused by external events Systematic growth due to activities conducted
  33. 33. @QVIK@MPIETILA#MobeyEDI2017 http://www.appannie.com/intelligence
  34. 34. @QVIK@MPIETILA#MobeyEDI2017 http://www.appannie.com/intelligence Finance apps tend to be used for short periods of time and not that often.
  35. 35. 2 MOMENTS OF TRUTH GET YOUR USERS 
 ONBOARD 
 KEEP YOUR USERS ONBOARD 
 @QVIK@MPIETILA#MobeyEDI2017 1 2
  36. 36. 2 MOMENTS OF TRUTH GET YOUR USERS 
 ONBOARD 
 KEEP YOUR USERS ONBOARD 
 @QVIK@MPIETILA#MobeyEDI2017 1 2 Just like Rebekah said yesterday in the panel discussion: banks like to focus on the UX of the app itself but neglect the customer journey around the app. In the same way as we’ve learned here that security needs to be designed explicitly in the system, also onboarding and engagement measures need to be specifically planned and executed.
  37. 37. BUILDING WINNING CONSUMER SERVICES WHY SHOULD YOU CARE? 2 MOMENTS OF TRUTH BEST PRACTICES 1 2 3 @QVIK@MPIETILA#MobeyEDI2017
  38. 38. DEFERRED DEEP LINKING REDUCE THE THRESHOLD BETWEEN WEB AND APPS @QVIK@MPIETILA#MobeyEDI2017
  39. 39. @QVIK@MPIETILA#MobeyEDI2017 Jennifer Norman Web Browser 42%Sketch 9:41 AM GET YOU’RE LOGGED IN HERE… WEB WEB APP STORE APP …WE’LL LOG YOU IN AUTOMATICALLY HERE DEFERRED DEEP LINKING
  40. 40. @QVIK@MPIETILA#MobeyEDI2017 Jennifer Norman Web Browser 42%Sketch 9:41 AM GET YOU’RE LOGGED IN HERE… WEB WEB APP STORE APP …WE’LL LOG YOU IN AUTOMATICALLY HERE DEFERRED DEEP LINKING Native app for everything is not always the correct answer. In this example case there was a mobile web service you can use to book a ferry trip. It’s only after you’ve made the purchase you might be interested in downloading an app. Here, the threshold is minimised with a technique called deferred deep linking. Thanks to that, we know who you are right after you installed the app and can fetch your trip data automatically.
  41. 41. LOVE THE PROBLEM, NOT THE SOLUTION @QVIK@MPIETILA#MobeyEDI2017
  42. 42. LOVE THE PROBLEM, NOT THE SOLUTION @QVIK@MPIETILA#MobeyEDI2017 Choose your battles. People typically care about your brand or your product much less than you do yourself. Don’t get blinded by your ideas or capabilities but concentrate on solving the validated problems that your customers are actually facing. Like Kaisu said yesterday, understanding your customers’s needs on a deeper level lets you create truly relevant services.
  43. 43. MAKE YOUR CUSTOMERS FEEL VIPS @QVIK@MPIETILA#MobeyEDI2017
  44. 44. MAKE YOUR CUSTOMERS FEEL VIPS @QVIK@MPIETILA#MobeyEDI2017 Expliclitly design how you want your customers to feel. Can you make them feel important? Food preorder services let you skip lines, ride services get you a private driver, member-get-member betas let you be the one to get an access for your friend as well. The better the services make your customers look, the more likely they will tell everyone.
  45. 45. MAKE IT AS PERSONAL AND CONTEXT-AWARE AS POSSIBLE @QVIK@MPIETILA#MobeyEDI2017
  46. 46. MAKE IT AS PERSONAL AND CONTEXT-AWARE AS POSSIBLE @QVIK@MPIETILA#MobeyEDI2017 It’s a personal device, so users expect personal service. Go further than remembering the user and providing an easy access. Sometimes combining simple things like location and the time of the day can work wonders.
  47. 47. CREATE THE FIRST SUCCESS AS EARLY AS YOU CAN AND DECIDE THE MAIN ACTIONS YOU WANT YOUR CUSTOMER TO TAKE @QVIK@MPIETILA#MobeyEDI2017
  48. 48. CREATE THE FIRST SUCCESS AS EARLY AS YOU CAN AND DECIDE THE MAIN ACTIONS YOU WANT YOUR CUSTOMER TO TAKE @QVIK@MPIETILA#MobeyEDI2017 Most apps get to enjoy only a couple of openings, hence it’s crucial to get the user hooked early on. What are the three first actions you wan’t your users to take? How to you push them towards the goal?
 
 It’s been said that Tinder puts your profile on heavy rotation to ensure you get your first match. Design explicitly how you can get the user to experience your value proposition as quickly as possible.
  49. 49. KNOW YOUR ENGINES OF GROWTH @QVIK@MPIETILA#MobeyEDI2017 ACQUISITION ACTIVATION REVENUE REFERRAL RETENTION LIFE TIME VALUE PAID ENGINE > 3 * COCA (DAVID SKOK ) Adapted from: Scaling Lean, Ash Maurya
  50. 50. KNOW YOUR ENGINES OF GROWTH @QVIK@MPIETILA#MobeyEDI2017 ACQUISITION ACTIVATION REVENUE REFERRAL RETENTION LIFE TIME VALUE PAID ENGINE > 3 * COCA (DAVID SKOK ) Adapted from: Scaling Lean, Ash Maurya Your KPIs should reflect you chosen strategy for growth. If you rely on paid user acquisition, make sure your customer life value exceeds 3x the cost of getting a new customer.
  51. 51. KNOW YOUR ENGINES OF GROWTH @QVIK@MPIETILA#MobeyEDI2017 ACQUISITION ACTIVATION REVENUE REFERRAL RETENTION GROWTH RATE STICKY ENGINE > CHURN Adapted from: Scaling Lean, Ash Maurya
  52. 52. KNOW YOUR ENGINES OF GROWTH @QVIK@MPIETILA#MobeyEDI2017 ACQUISITION ACTIVATION REVENUE REFERRAL RETENTION GROWTH RATE STICKY ENGINE > CHURN Adapted from: Scaling Lean, Ash Maurya For a sticky engine you should follow that your growth rate is larger that your churn.
  53. 53. KNOW YOUR ENGINES OF GROWTH @QVIK@MPIETILA#MobeyEDI2017 ACQUISITION ACTIVATION REVENUE REFERRAL RETENTION REFERRAL ENGINE REFERRAL RATE > 1 Adapted from: Scaling Lean, Ash Maurya
  54. 54. KNOW YOUR ENGINES OF GROWTH @QVIK@MPIETILA#MobeyEDI2017 ACQUISITION ACTIVATION REVENUE REFERRAL RETENTION REFERRAL ENGINE REFERRAL RATE > 1 Adapted from: Scaling Lean, Ash Maurya If you plan to grow virally, each existing customer should introduce more than one customer into the service.
  55. 55. BUILD HABITS: SYSTEMATICALLY CREATE REASONS FOR COMING BACK @QVIK@MPIETILA#MobeyEDI2017
  56. 56. BUILD HABITS: SYSTEMATICALLY CREATE REASONS FOR COMING BACK @QVIK@MPIETILA#MobeyEDI2017 If you want to become relevant, you’ll have to cause a chance in your customers’ behavioral habits. Design reasons, why they should come back and make sure they are rewarded when doing so. Facebook always has new notifications for you, your village will get destroyed during night etc.
  57. 57. ENCOURAGE SHARING: MAKE IT PROMINENT, INCENTIVISE IT, APPEAL TO EMOTIONS @QVIK@MPIETILA#MobeyEDI2017
  58. 58. ENCOURAGE SHARING: MAKE IT PROMINENT, INCENTIVISE IT, APPEAL TO EMOTIONS @QVIK@MPIETILA#MobeyEDI2017 Making sharing possible is not enough. You need to promote it, make the process as smooth as possible and create incentives for both the sharer and the recipient. Finally, appeal to emotions: people share when it makes them look good.
  59. 59. BUILD AS MANY MESSAGING CHANNELS AS YOU CAN @QVIK@MPIETILA#MobeyEDI2017
  60. 60. BUILD AS MANY MESSAGING CHANNELS AS YOU CAN @QVIK@MPIETILA#MobeyEDI2017 Do all you can to get an opt-in for your push messages (like priming the user before asking for permission) but don’t stop there. Also leverage local notifications, in-app-notifications, in-app inboxes and personally targeted emails. More tips at: https://medium.com/@urbanairship/how-to-make-a- successful-app-10-fundamentals-for-maximizing-your- investment-2bf9362f1db4
  61. 61. @QVIK@MPIETILA#MobeyEDI2017 Source: Mixpanel IN-APP NOTIFICATIONS
  62. 62. @QVIK@MPIETILA#MobeyEDI2017 Source: Mixpanel IN-APP NOTIFICATIONS With in-app notifications you can reach also the users who haven’t granted their permission for sending notifications.
  63. 63. DON’T JUST BUILD – REMEMBER TO MEASURE & LEARN, TOO @QVIK@MPIETILA#MobeyEDI2017
  64. 64. DON’T JUST BUILD – REMEMBER TO MEASURE & LEARN, TOO @QVIK@MPIETILA#MobeyEDI2017 Many projects start beautifully as customer-driven, lean, and all in all by the book – only to be turned waterfall-based, backlog-driven beasts after the first version is out. Don’t let that happen to you! Make sure you have clear goals for everything you do and that you have the capability to both measure KPIs and act on them. (One handy tip is to connect Google Analytics custom dimension to the phase in the customer journey the user is in, which will let you do cohort analysis based on customer journey.)
  65. 65. WINNING CONSUMER SERVICESSUMMARISING 1 2 3 WHY SHOULD YOU CARE? @QVIK@MPIETILA#MobeyEDI2017 2 MOMENTS OF TRUTH BEST PRACTICES Barriers of entry are disappearing while getting and keeping users is harder than ever Focus explicitly on getting users to your service and then keeping them there Demonstrate your value early on, activate your users systematically, make them feel special & tell everyone.
  66. 66. LET’S CREATE IT TOGETHER qvik.com @QVIK @MPIETILA

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