How far can we push a project in 5 days?

To see how far we could go, we set ourselves the challenge of encouraging people in their 20s to start thinking about their retirement. Continue reading to find out how far we got.

Fuxblau
Fuxblau
Feb 26, 2018 · 7 min read

The Brief 📄

Create a service which supports people in their 20s to start doing something for their retirement plan.

Learning About Real Needs: Guerrilla Research 🔍

We discovered mental as well as informational barriers:

  • Having the impression it’s not worth it until you have a stable income
  • Not feeling comfortable committing to monthly payments as you never know where you’ll be in 2 or 3 years from now
  • A general distrust towards non-independent consultants

Making Ideas Tangible: Working with Paper Prototypes ✋

Our paper prototypes

1. Website with interviews of real people

2. Create an avatar of your future self

Through our testing sessions we realized that we needed to approach the issue more holistically — people were looking for guidance throughout the whole process.

The Result In A Nutshell: The Service-Prototype ✨

The new concept would guide the user through all phases from (1) getting interested, (2) recognizing the importance of starting now, (3) understanding the current financial situation, (4) identifying saving & investment potentials to (5) actually start saving and staying motivated.
The entry point to the journey may vary depending on how much thought and research the individual may have invested prior to coming across our service.

1. Interviews — Creating Awareness 👀

Short videos, which can be filtered by industry and employment status, give brief intros to people, their job & life style and what they do to prepare for their pension. The details of their finances, savings and preparations can further be explored on their profiles.

Wireframes of our prototype

2. Pension-Calculator — Recognizing the Importance of Starting Now 👇

After adding basic income details the user receives an estimate of their pension. They can compare it with an ideal minimum pension, painting a picture what life style this pension allows, to make the effects more tangible. The app suggests next possible steps, nudging the user to calculate their saving potential or directly booking an appointment with a financial coach.

Wireframes of our prototype

3. Saving–Potential — Understanding One’s Current Financial Situation 💵

To make it as easy as possible for the user, it is separated into yearly, monthly and weekly expenses. Especially the weekly expenses encourage the user to think about all the ‘little’ expenses like a coffee to go. This may trigger the user to pay more attention to what they actually spend money on and to reflect on the necessity of the purchase.

Wireframes of our prototype

4. Call-To-Action — Start Saving 🐖

The total saving potential consists of monthly surplus + saving tips. These tips may include how to save more money through small behavioural changes like cooking more at home. It then recommends the user 3 investment options, explaining their pros and cons. In this example the user receives the proposals to invest in their education, ETF funds or a gym membership to reduce health costs and improving quality of life at old age. The user is then encouraged to consult their friends and family or directly book an appointment with one of the independent coaches.

Coaches

Wireframes of our prototype

Business Model & Stakeholder-Map 🗺

Free Entry Into The Service

Coach provisions — Primary Income Stream

Data reports — Secondary Income Stream

With More Time: Next Steps? 👉

Reflection: What Did We Learn? 💭

It became clear that each person has very individual life and saving goals. Especially for the first part it became a challenge for the design, keeping it simple and clear while allowing it to be very individual. — Birga

Through having the space and time to push ourselves into different roles internally — designers practicing their research skills, researchers working on wireframes — we created a safe space to learn and better understand what the others do and how we can support each other in future projects. Bringing a more holistic approach to our work atmosphere. — Maya

Using paper prototypes to start conversations so early on in the process quickly led us to creating a more holistic user journey. Looking at the outcome, with the benefits of this service being so obvious, the question arises: Why does this not exist yet? — José Ernesto

If you’ve enjoyed this article, we’d be happy if you clap at the bottom of this page. That way, more people will be able to discover it.

Credits
Icons:
Material Icons
Photos:
http://bit.ly/2Hh1AIT, http://bit.ly/2CmeBNz, http://bit.ly/2C2iJ9u

Fuxblau

Fuxblau is a Berlin-based innovation consultancy.

Fuxblau

Fuxblau is a Berlin-based innovation consultancy. We help companies to translate user needs into business models. This collection showcases articles by Fuxblau team members and friends that focus on our core topic: Creating user-centered business models.

Fuxblau

Written by

Fuxblau

Fuxblau translates user needs into business models using service design. Our passions are the service economy and business innovation.

Fuxblau

Fuxblau is a Berlin-based innovation consultancy. We help companies to translate user needs into business models. This collection showcases articles by Fuxblau team members and friends that focus on our core topic: Creating user-centered business models.