Content
1.OVERVIEW problem solution
2.PROCESS research define
ideation
3.RESULT
impact
reflection
next steps
unique features designed to attract non-customers and enhance brand loyalty
• 7min read
Overview
Client: Nationale Nederlanden
Year: 2023
Sector: Finance, Retail, Health and Wellness
Role: Product Design, UX Design
( first research, literature review, problem framing,
concept devolepment, prototyping )
Duration: 7 weeks
Nationale-Nederlanden is a Dutch financial services provider offer products and services in the field of insurance, pensions and banking activities. Now its app is available for non-customers to download, allowing them to browse and purchase its financial products without having NN accounts.
PROBLEM
When NN cannot offer competitive financial products, non-NN customers lack the incentive to explore the NN app because they are already committed to other major Dutch banks from a young age.
SOLUTION
I designed a healthy habit tracking feature with a discount rewarding system on NN products in the app , aimed at nudging non-customers to explore NN products, while fostering brand loyalty.
Process
For this project, I utilized the Double Diamond framework, which involves two big phases.
The first phase is dedicated to identifying the right problem to solve. This involves defining the problem based on my interviews and secondary research, and then reframing the challenge. To further develop a solution, I aslo determined both user needs and business needs.
RESEARCH
To identify the right problem to solve, I conduct interviews and literature studies, delving into these areas:
- Why the targeted group prefers a certain financial service provider
- What attracts them to consider another one
- What negative experiences have they encountered while engaging in any finance-related activities?
Apart from that, I also conduct competitor analyses of various financing apps such as Bunq (NL), Revolut (UK), Alipay (CN), with a focus on their strategies to attract and retain customers.
After the research, I have summarized that these elements might influence customers' consideration of switching
- Better financial offerings (such as loans, high interest rates)
- Personal values and ethics
- Customers' financial literacy
- Duration of relationship with the company/brand/service
DEFINE
While NN cannot offer better financial products, research studies suggest that it needs to provide unique functions (incentives) at the service level to attract non-customers. Based on this, I have reframed the design challenge.
“How might I design a new feature aimed at attracting non-customers , with the goal of nudging them to choose a financial product from NN.”
IDEATION
During this stage, my initial focus was on designing a budgeting feature which users can use frequently, and I choose this direction as the financial management fuction is most relevant . As I have noticed, setting a savings goal is already a feature in the NN app for existing customers, so it might be less effortful to further develop this feature. However, after testing the concept, it became evident that other major banking apps already offer this function. Consequently, this feature is unlikely to attract non-customers.
matrix of prioritising ideas
Furthermore, during the session with the client, they mentioned that they will not adopt the strategy of the new competitors, which involves distributing money to attract customers, as they are already an established business in this field. This led me to continue research into the lifespan of a product and the business strategies that should be adopted at this stage when all competitors’ offerings are more or less the same. The findings suggest that there is still a need to focus on product differentiation, and more targeted marketing towards specific market segments.
To further identify the specific market segment, I have chosen to delve into NN's value proposition and examine NN's marketing strategy more closely. Then, I narrowed down my focus to explore the specific problems faced by busy families aged 28-30, particularly concerning their health and fitness, while setting aside their financial problems.
According to my interviews, I discovered that these individuals are eager to lead a more active lifestyle but struggle to find a consistent way to do so due to their busy lives. I used the 5 Whys and Think Opposite methods to uncover the hidden needs of the users.
persona
Users’ Needs:
Surface need：Save money, Simple way to keep healthy
Hidden need： Pursuing a better quality of life, Enjoying life
Business Goals:
(1) Generate more profit
(2) Deliver the band’s value ( care, clear, commit )
“How might I design a new feature to help hectic family members save money and easily maintain their health while exploring NN's products?”
Result
Through a brand-driven lens, I designed an intergrated walk step tracking feature with a discount rewards system on NN health insurance, promoting an active, healthy lifestyle while nudging users towards NN products and fostering brand loyalty for NN.
- USP: 'Walk more, save more' incentive - While consistently achieving daily walking goals, these accomplishments can be exchanged for redeemable points towards next health insurance purchase.
- Additional Rewards: points used in a draw to get various unexpected benefits such as a trial for investment products or discounts on cultural, sport events ( sponsored by NN)
- Brand Alignment: Positions NN as a brand that values customer health and well-being.
My final design bridges the gap between users' desire for financial savings and a richer life experience. This aligns with NN's business goals of attracting new non customers and reinforcing its brand identity.
The basis for this recommendation for walking consistently is its ease, available to the widest users, contributing long-term health benefits , and applied to the Dutch context.
selected artifacts of the design process
IMPACT
- For End Users -
Short-term Value
- an external motivation easily drive maintain an active lifestyle
Long-term Value
- promotes physical and mental well-being.
- saving money and enjoying life.
-For the Business -
Short-term Value
- creating initial brand engagement.
- potential customer acquisition.
Long-term Value
- a possible decrease in health insurance claims, leading to cost savings.
- customers foster loyalty by aligning NN's brand with the values of health and well-being.
REFLECTION
During this project, I learnt
-It’s important to clearly define the users’ need and the project scope and prioritize needs using techniques like the MoSCoW method during the define phase. For this individual project, not taking this step has caused a back-and-forth that resulted in inefficiencies in finding solutions.
-From a product perspective, the solution needs to be a win-win for meeting the users’need and achieving business goals as well.
-Even the features of the digital product also need to align with the brand’s values.
NEXT STEP
With the right marketing, I believe this design concept offers significant benefits to NN's business strategy. It aligns with Rotterdam's 2025 goal to become a walkable city, and thus this feature could play a crucial role in this urban transformation.
However, before proceeding, the design concept needs to be further validated with more well-selected target groups to demonstrate its potential with precise metrics. That is because developing such a 'nice-to-have' feature carries business risks.