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designthinking
Pieter Baert's keynote on design thinking emphasizes its importance in the financial industry, highlighting it as a user-centered, hands-on approach that focuses on empathy and creativity to solve complex problems. Design thinking encourages iterative processes involving empathy, ideation, prototyping, and testing to foster innovation and improve customer experiences. While beneficial for addressing 'wicked' problems, it also requires a viable business strategy and acknowledges that not every situation calls for design thinking.
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designthinking
- 1. pieter baert THE ROLEOF DESIGNTHINKING A keynote by Pieter Baert in spring 2015 for the financial industry.
- 2. MAKING PEOPLE WANT THINGS MAKING THINGS PEOPLE WANT From To > Online marketing& digital advertising Designing digital services & products About Pieter Baert
- 3. What actually is designthinking? And what it’s not. 1
- 4. We are talkingabout design in its broadest meaning.
- 5. Design thinking isoften confused with visual design
- 6. Steve Jobs, co-founderApple “Design is not just what it looks like and feels like. Design is how it works.”
- 7. “Everything is designed.” Start stop> lower emissions > lower taxes > I can afford driving pleasure
- 8. “Even my car insurancebroker uses design.” Minor car accident (stress) > paperwork (confused) > printed stickers (easy)
- 9. David Kelley, co-founderIdeo “We moved from thinking of ourselves as designers to thinking of ourselves as design thinkers.”
- 10. Design thinking isa user-centered approach to problem solving
- 11. Actually design thinking isless about thinking and more about doing
- 12. Key elements 1. People-centered 2.Highly creative 3. Hands-on 4. Iterative !
- 13. People-centered You start fromwhat people, users, customers, consumers, (…) need or want to do. Their motivations and the problems they are trying to solve. Empathy is key. It’s not about you. You need the ability to understand and share the feelings of others. 1
- 14. Highly Creative Design thinkingstimulates you to look at situations differently and come up with new solutions, that go beyond and improve existing alternatives. Integrative thinking is key. You need the ability to look at all the different aspects of a problem 2
- 15. Hands-on Stop discussing, startworking. Make ideas tangible. Prototyping is thinking with your hands. Test your hypnotises. Failure is a (necessary) part of the process in order to succeed. Experiments with trial and error are key. 3
- 16. Iterative The road tosuccess does not follow a straight line. The more you are able to loop through “understand > create > learn” cycle, the higher chance you have for good results. 4
- 17. Test Google Ventures ‘DesignSprint’
- 18. Test How design feels “TheProcess of Design Squiggle” by Damien Newman, Central Office of Design
- 19. How do youapply design thinking? Key pillars, model & process 2
- 20. When can design thinkingbe helpful?
- 21. ‘Wicked’ problems? Problems thatare ill-defined: both problem and solution are unknown at the beginning. A large part of the problem solving is actually defining the problem. And/or tricky: it involves quite a bit of risk, as you are leaving the comfort zone of the organisation.
- 22. Not every problem! Designthinking (creative, intuitive, emotional) is not the answer to every single problem. For some question you will need rational thinking, spreadsheets, powerpoint and wo/men in suits to come to a valid answer. >> e.g. acquiring a local competitor
- 23. People - desirability - Test Innovationthat is also feasible and viable Business - viability - Technology - feasibility - Innovation ideo.com, creating new, innovative avenues for growth, grounded in business viability and market desirability.
- 24. Zoom in tothe design thinking process
- 25. No ‘one sizefits all’ approach ! There is not one single proces or toolkit that serves every single case. There is a wide variety of processes and tools that people customise to serve their needs. The five step process from Stanford Design School is a model that is broadly used and has proven its value.
- 26. The Human CentredDesign process The Human Centered Design Toolkit by IDEO
- 27. Empathise Define Ideate Prototype Test An iterative cyclicproces The Design Thinking Proces by Stanford Design School
- 28. Empathise Understand the experience,situation and emotion of the person who you are working for • Observe users and their behaviour in the context of their lives. • Engage with people in conversations and interviews. Ask why. • Watch and listen: ask someone to complete a task and tell you what they are doing 1
- 29. Define Process and synthesisethe findings in order to form a user point of view that you will address • User: develop an understanding of the type of person you are designing for • Needs: synthesise and select a limited set of needs that you think are important to fulfil • Insights: express insights you developed and define principles 2
- 30. Ideate Focus on ideageneration. You translate problems into solutions. Explore a wide variety and large quantity of ideas to go beyond the obvious solutions to a problem. • Creativity: combine the un/conscious with rational thoughts and imagination • Group synergy: leverage the group to reach out new ideas an build upon other’s ideas • Separate the generation and evaluation of ideas to give imagination a voice 3
- 31. Prototype Build to think.A simple, cheap and fast way to shape ideas so you can experience and interact with them. • Start building: Create an artefact in low resolution. This can be a physical object or a digital clickable sketch. Do it quick and dirty. • Storyboard: create a scenario you can role play in a physical environment and let people experience your solution 4
- 32. Test Ask for feedbackon your prototypes. Learn about your user, reframe your view and refine your prototype. • Show: let people use your prototype. Give it in their hands and let them use it. Listen to what they say. • Create experiences: let people talk about how they experience it and how they feel 5
- 33. How does itbenefit financial institutions? The benefit of design thinking in the financial industry. 3
- 34. Albert Einstein, theoreticalphysicist “Ifyou always do what you always did, you will always get what you always got.”
- 35. “The relationship with your customers is changing” Myfatherin lawwas a local bank branch manager. He is a walking CRM database.
- 36. “People adopt newtechnology, discovernew solutions and develop different expectations”
- 37. “Which triggers the needfor new approaches in the financial industry”
- 38. Challenges! Some key challengesin the financial industry: • Threat of disruption by ‘FinTech’ • High customer acquisition costs • Lower customer loyalty • Increasingly difficult to up-sell • Reduced switching costs
- 39. Research on Millenials> link
- 40. Bain, Customer Loyaltyin Retail Banking: Global Edition 2014
- 41. The role ofdigital channels worldwide Bain, Customer Loyalty in Retail Banking: Global Edition 2014
- 42. The human touchremains important Bain, Customer Loyalty in Retail Banking: Global Edition 2014
- 43. The uprise ofsmartphones & mobile internet
- 44. Design thinking helps youinnovate 3.1
- 45. Big betsA With PowerPointpresentations full of statistics and customer insights, you need to make big bets on new products, technologies, and premium services that go to market and flop, often for reasons that are hard to figure out.
- 46. A lean approachB Designthinking stimulates you to be highly creative and at the same time allows for quick validation of those concepts with the target customers and business model (as such limiting potential risk).
- 47. …helps you differentiate fromcompetitors 3.2
- 48. Serving is sellingA Asit becomes increasingly harder to differentiate on price, product range or local presence, “customer experience” becomes a key differentiator for banks. “Serving is the new selling."
- 49. ! "Most banks recognisethat many customers struggle to consistently save, spend and invest their money wisely, (…) (…) the traditional role of banks was to provide services and enforce terms and conditions, and not to worry about whether customers were making smart choices. (…) taking a more proactive stance, with offerings that make it easier for people to stick to good behaviours and achieve their personal financial goals." IDEO, Retail banks turning to Design
- 50. 3.3 …helps you increase customersatisfaction
- 51. Customer retention> A customercentric mindset helps you improve the customer experience over different channels and touch- points and positively impacts customer satisfaction. Customers are more loyal, buy more and higher margin products from you. It also improves your net promotor score. (ambassadorship)
- 52. But it hasit’s limits…/ 1. It’s good to skip endless research, meetings and strategy sessions, but under-thinking is as bad as over-thinking. 2. Great ideas that benefit consumers require a viable business strategy built into an idea 3. Every problem is different. There is not one proces or toolset to standardise design thinking.
- 53. What should you remember? Keytake outs !
- 54. Design thinking isa user-centered approach to problem solving. Empathy is key. 1
- 55. Design thinking isespecially helpful for “wicked” problems. 2
- 56. Design thinking isa step-by-step process that is repeated over multiple iterations. 3
- 57. Design thinking isabout doing. Let’s start togethertoday. 4
- 58. pieter baert QUESTIONS? SHOOT. Pieter Baert +32473 667 861 info@pieterbaert.be