50% of U.S. millennials say they will need to use their retirement savings to meet non-retirement expenses . 30% use credit cards to pay for monthly necessities.
bank account and credit cards, rounding up daily purchases and automatically investing the ‘change’ into a diversified portfolio. Apps such as ACORNS will bring with it charges. If you spend $3.50 on a coffee the app will then automatically round up 50c into your investment account. Once you’ve rounded up $5 worth of change it then deposits it into your account. You can also accelerate this if you want and deposit more money as you please. Is it worth it? If we all aim to be self-determined in our financial lives then improving our competency and with it, a degree of autonomy must be of value? Quick watch Ed Deci on Motivation Ask yourself this If you were designing a micro-investment app why & how would you accommodate the satisfaction of Relatedness to Others? I want you to think about what Ed says about Controlled Motivation & the growing issue of negative app design
a tabloid treatment of behavior science for tech ◦ Is that really a bad thing? ⊙ Let’s look at Nir’s assessment of SNAPCHAT & work backwards from there
as to what you do next “HIT PLAY” Internal What to do next is informed via association from user's memory: People-Place- Emotion-Routine- Situations Action The simplest act done in anticipation of a reward. Scroll-Search-Play To enact a behavior: Ability What you need to enact behavior: ⊙ Time it takes ⊙ Money it costs ⊙ Effort involved ⊙ Brain power ⊙ Deviance from the social norm ⊙ Non routine Reward The ITCH we seek to SCRATCH “our reward system activates with anticipation & calms when we get what we want.” Prime motivators: • Avoid PAIN • Avoid REJECTION • Avoid FEAR
& information-based rewards SELF We seek ⊙ Mastery ⊙ Competence ⊙ Autonomy ⊙ Task completion Reward The ITCH we seek to SCRATCH “our reward system activates with anticipation & calms when we get what we want.” What motivates contributors to this service? What is their reward? Name some
- personal data - social capital - time - effort - money - emotion “Investment helps increase the likelihood of a 2nd PASS thru the HOOK” (Eyal) INVESTMENT
theories to guide a proper analysis of the behavioral state of your user community. Design elements For each Profile we need to present a table of suitable Choices & Persuasive Elements in conjunction with compiling User Stories and UI Deliver Get to pilot as an MVP. Use qualitative & affective testing tools. Must have personalised persuasion. Formulate Don’t guess. Generate validated models to formulate Behavioral Profiles from the framework Go agile Test & build increments & iterations based on User Story EPICS for common Profiles. Learn-adapt Repeat Step 1. Tie in instrumented app & UI-based qualitative analytics to keep evolving.