Just a few weeks ago, Barclay’s became the first big bank to give its customers unexpected control over their spending. Via Barclay’s app, you can now “switch off” your debit card so that it can’t be used for five specific types of purchases – gambling, “premium-rate websites and phone lines”, restaurants/pubs/bars, gas, and groceries. Once a type of purchase is switched off, any transaction you try with your card at the relevant type of retailer or business will be automatically declined. The idea is to try and help people manage their spending impulses, and is aimed particularly at those with mental health issues or addictions. But, it can also be used to protect yourself from others trying to make fraudulent charges, if you’re worried about that. Barclay’s says it will do the same for credit cards in the near future.
Why It’s Hot:
It’s a bold move for a bank to offer its customers a way to not spend their own money, but it’s clearly aimed at helping people. Unexpected, and a great example of putting people over profits and thinking about the customer experience beyond just transacting with the bank itself. It’s only a halfway house, given that the feature is completely within each person’s control. But even the cue of having your card declined and having to go into the app to turn whatever type of purchase back on would likely make someone who can’t help themselves think twice.
Marcus Engman is leaving Ikea to run a consultancy that convinces companies to spend their marketing budget on what matters: design.
For the past six years, Marcus Engman has successfully made Ikea weird.
As the company’s head of design, he spearheaded artistic collaborations on tropical furniture and L.A.-inspired skateboards to push the reserved Swedish furniture giant out of its minimalist comfort zone. But Engman recently left Ikea to start a company of his own called Skewed Productions, as a partner of the design firm Doberman. Think of Skewed as a hybrid of design studio and ad agency–its goal is to create marketing moments for companies through product design itself. Instead of spending money on ad buys, Engman wants to teach companies to market themselves through their design.
“I want to show there’s an alternative to marketing, which is actually design,” says Engman. “And if you work with design and communications in the right way, that would be the best kind of marketing, without buying media.”
Why this is hot?
Every industry is being disrupted and challenged by new entrants, philosophies, and breakthrough models. Design is making its way into the marketers territory and should be kept on everyone’s radar.
As customer experience (CX) continues to drive business transformation, we are met with a general lack of understanding around what and how to move forward. Forrester research revealed more than 60% of decision makers are still holding on innovation related to the Internet of Things. The Internet of Things is CX. People expect connectivity; people expect effortless data integration that improves the way they move through the world. This is nothing to delay and “assess.” The CX winners lean in hard early. They experiment. They fail. They pick themselves back up and try again. People more than welcome that now, they expect it.