BlackRock

Two new VALIDATED CONCEPTS IN TWO WEEKs

The challenge

Create and validate a new concept to be used by Financial Advisors that ‘unlocks access to BlackRock’s research’.

The outcome

From nothing, to two validated concepts that meet user needs and solve real problems. Ready to be pitched to the Chief Marketing Officer. All in 2 weeks.

My role

Discovery research

Working with a user researcher, I led discovery research with Financial Advisors (FAs) and BlackRock staff who head up business units that commonly interact with FAs.

Concepting

I created concepts aimed at solving a range of user needs identified in the discovery phase. Ranging from low fidelity sketches to mid/high fidelity UI as the project progressed.

Product design

I took the most favoured concepts and designed them out fully. Designing journeys users would take through the products, while always considering the environment in which they would be used.

Prototyping, testing and iterating

I tested the concepts and UI with Financial Advisors, exploring different user journeys and asking probing questions as the FAs explored the designs. I analysed the feedback, iterated the designs and tested again.

Strategic direction

I set out a strategic vision for the two concepts we ended up creating. Covering their user value, business value and future opportunities.

The Google Ventures Design Sprint

As this project was just two weeks I thought I would tell the story of it by giving a day by day breakdown.

With this two week project, this two week sprint, my colleague and I took inspiration from The Google Design Sprint. So telling the story of this case study day by day lends itself well to the Design Sprint approach too.

Day 1 - The brief and early discovery

A typical project day 1, at least for the morning. Context around the brief, expectations and ideal outcomes. But given this project was short, there was no time to waste.

We begun stakeholder interviews alongside our clients, 8 interviews in total, speaking with BlackRock staff from a range of relevant business units.

We got into the challenges they and their departments face around researching and using BlackRock’s research. After each stakeholder interview we had a project team synthesis. Discussing interesting points that came out and ideating on the fly.

Day 2 - Rapid ideation

Off the back of all that we learnt in the kick-off, knowledge gained from the interviews and client hypotheses, we drew up four how might we questions.

Coming up with the how might we questions together as a team helped align our thinking.

They also gave us a good direction and focus when beginning ideation. We each took 2 how might we questions to answer.

When coming up with ideas we used Crazy 8s. Fold a piece of paper up to create 8 squares and then fill each square with an idea that solves the problem.

I like Crazy 8s as a method to generate ideas, but it does have its pros and cons.

Crazy 8’s pros

    - Urgency. The time pressure makes you think on your feet and deliver. The rough sketch you quickly jotted down as the time was running might spark a debate or a new concept

     - It encourages collaboration. When team members present back their ideas to the group you’re encouraged to build on others ideas

     - Ideas aplenty. From quick wins to ideas to solid concepts. Crazy 8s does produce a large list of ideas in a short period of time

Crazy 8’s cons

     - Urgency. The time pressure makes you rush ideas and therefore you execute poorly or you don’t think them through well enough

     - Delivering eight ideas. You want to fill your 8 squares in the allotted time. But that may mean having to move on from what could be a very good idea just so you fill the remaining squares

     - Defining. If there isn’t clear definition amongst the team on the problem(s) the ideas are solving then team members risk coming up with ideas that don’t solve the true problem

My colleague, our two clients (but effectively team members) and I presented back our ideas and the rationale behind them to one another. Actively encouraging discussion, debate and to build on each others ideas.

We soon begun iterating on ideas, combining two ideas together and taking parts from one and one from another to create a totally new concept.

Then came prioritisation. We had user testing with FAs lined up in two days and wanted to take our best ideas through and put them in front of the FAs.

At this stage the ideas were more testing material and stimulus for conversation, rather than any final concepts. Collectively we prioritised 8 that we thought met user need, best answered our hypotheses and how might we questions.

Day 3 - Concept cards

With our 8 concepts decided upon I digitised them and turned them into concept cards. Concept cards are a method to better set the context a concept would be used in.

Digitising the concepts allowed for more detail and more opportunity to create talking points in the concept that otherwise would have been hard to do on paper.

In parallel my colleague produced the discussion guide that we would use to guide our conversation with the FAs.

Day 4 - Interviewing and testing with Financial Advisors

Time in front of our end user, as ever, proved to be extremely valuable.

We spoke with 6 FAs, interviewing them for the first part of the session around their current attitudes when it comes to research.

This uncovered pain points and needs they have, some of which our concepts answered, and some of which our concepts didn’t. The second part of the session we put the concept cards in front of the FAs.

The main purpose of the concept cards at this stage of the project was to facilitate conversation. They did just that. We uncovered insights that became high level themes that we could use to inform our solutions in the coming days.

After we finished all our sessions with the FAs my colleague and I began synthesising.

Documenting:

     - Key insights

     - High level findings

     - The journeys and the opportunity areas in the journeys for our product to help FAs

     - Pros and cons of each concept

     - Learnings from each concept and how we can take those forward to inform future design efforts

Day 5 - Testing review and direction

I took the clients through what we found from the testing. As a team we then decided upon the direction we wanted to take the ideation and concepting for week 2.

The insight gleaned from the FAs provided us with a clearer direction on what they needed.

Using the insight we came up with new, more focussed how might we questions. These were questions that we new if we answered correctly they would meet the needs of FAs.

Further ideation then took place to answer the new how might we questions. Incorporating the concepts, functionality and essence of successful concepts where possible.

Day 6 - Co-creation

With a clearer focus of the problems we were solving my colleague and I ran a co-creation workshop with our clients and four other BlackRock Digital employees.

I presented what we had found and the opportunity areas we were designing for.

The workshop brought together fresh ideas, different thinking and perspectives and further alignment on what it was we were trying to achieve with this product.

Collaboratively with our clients we took the ideas further and fleshed them out, by the end of it we had two solid concepts.

From there I worked the two concepts up even further, stress testing various user journeys through them, exploring different features and interactions.

Every hour or so I was inviting the clients in to view my progress and talk them through my rationale. All of which I kept paper based. This was so I could prototype at speed and the clients didn’t get caught up in the aesthetics of the design.

Day 7 - Creating interactive prototypes and UT preparation

With the designs agreed on paper I moved into Sketch and turned them into working prototypes.

The where, when and how FAs would use the products was important for us to test. So with that in mind we designed the discussion guide so it placed the FAs in various real life situations they may find themselves in using the products.

User testing scenarios:

     - 'A client has just called you, they want to know how the French election result may affect their portfolio.’

     - ‘It’s Monday morning and you want to get an understanding of world events coming up that may affect your portfolios.'

     - ‘You’re on the train on your way to work and you receive this notification…'

We then asked what they would currently do in this situation. After collecting that feedback we then introduced the prototypes.

Day 8 - User testing and iterations between sessions

In the morning I worked alongside a visual designer to finesse the concepts and take them to a higher level of fidelity.

In the afternoon we tested with 6 more FAs. We dedicated the first 15 minutes of the session to discovery, just to validate and ensure what we heard in the first week was accurate. It was.

The majority of the session was then used to take the FAs through the products and getting their feedback. The concepts tested well, both received positive feedback and met genuine user need...

“You don’t have to read the Wall Street Journal for 20 minutes anymore, you can use this and get what you need in 5.”

Financial Advisor

“This is a nice overview to have on a Sunday night or Monday morning, the big things that everyone will be talking about.”

Financial Advisor 

“This is an easy way to get the information I require rather than searching on the internet."

Financial Advisor

In the observation room we had all of the screens that the FAs were interacting with printed. So whenever anything important came out we were able to quickly document it.

Day 9 - Further iterations and strategic deck

At the start of the project BlackRock wanted one validated concept. But the two concepts we created were both wanted by FAs, immediately.

So we decided to pursue both.

The method we used to document insight during the testing sessions enabled us to move at speed and with maximum efficiency when reviewing the feedback and deciding on iterations.

As a team we went through both concepts screen by screen reviewing what we could improve. With a day and a half of the project left these were not major changes or new functionality, more quick wins to further improve the experience.

With my colleague I also began working on a deck to help and support our clients when they took the concepts to present to their Chief Marketing Officer.

We wanted to empower our clients and equip them properly. With this objective in mind we created a deck that the told story of:

     - How we got to where we got to

     - The FA user need around accessing and using research

     - Our correct and incorrect hypotheses

     - Description, rationale and user feedback for both products

     - The user need and business value for both products

Day 10 - Prototypes, strategic deck and handover

I completed all of the iterations we wanted to make to the ideas and also the deck.

My colleague and I then walked the clients through everything we had created to ensure they were in the best place possible before we left.

I also created two interactive prototypes - one for each of the products - in InVision so our clients could demonstrate the products during the presentation.

Solution 1 - BlackRock Assistant

A chatbot style assistant that gives nuggets of research as and when FAs require it.

Progressive disclosure is used, the user gets more information the more they request it. But always in a short and digestible way, as to not overwhelm.

Solution 2 - BlackRock Research Calendar

A daily, monthly and quarterly outlook of current affairs and financial research that could affect the market.

Bringing together all of BlackRock’s research in one place, in a way that brings value to Financial Advisors. Content remains short and to the point, but informative enough that users can takeaway valuable insights to inform their day to day advising.

The outcome

Two high fidelity prototypes rooted in customer insight, tested by real end users and iterated until the experience met the needs of Financial Advisors.

A comprehensive deck breaking down key functionality, user needs met and business benefits for both products.

But ultimately, confident, happy and prepared clients when taking the products and strategy to pitch to their CMO.

…

A couple of weeks later…

"I wish all my meetings were like this… great work, fab concepts, great strategy, lets make this happen."

BlackRock Chief Marketing Officer

Learnings

Be firm but fair

Tell the clients when you want them to leave you to it, there is such a thing as too much co-designing and wanting to keep the clients involved throughout. Politely state when you need private time to synthesise and get your head into the detail.

Manage expectations

Clearly define the goal of the project at the start. Draw it up and stick it in the room you’re working in. Refer to it if and when expectations are beginning to deviate from the goal agreed by all.

Keep challenging

No matter how many setbacks you get, keep challenging. It’s what you’re there for, you need to be able to take a step back, remain consultative and provide the expert point of view.

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