Everything Connects
It was probably Aristotle that said, “life moves pretty fast. If you don’t stop and look around once in a while, you could miss it.”
The bar moves pretty fast, too. Innovation in one industry changes customer expectations for everything. People travel by app, they want to manage their money or get 40 lbs of peanut butter just as easy. Organizations are always looking for new approaches to engage with customers in meaningful ways. But it’s hard to do by only focusing on the direct competitive landscape. Inspiration can come in surprising ways, from surprising places.
At Tank, we’re lucky. We don’t focus on one industry. By design we work across worlds, because some really surprising ideas live between them. This month, we want to stop and look around a little with you and see how everything connects.
Mindfulness
DIY
VR
On Demand
Automotive
Security
Banking
Travel
What we’ve seen
In a world where transportation is becoming increasingly automated, distraction is default. But safe commuting still requires focus. Whether biking, walking or driving, this twice-daily ritual can be an opportunity to train the mind.
Our take
What if rush hour could become a source of relaxation and calm? How might this clarity of mind extend out into the rest of our lives? How might we design systems that encourage inward focus while commuting — so that mindfulness can become contagious?
What we’ve seen
Our lives are saturated. Filled to the brim with stuff. It’s easy to forget where we put our car keys, let alone the minutiae of digital security. We are constantly forgetting the basics — we don’t secure our wireless networks, we leave our computers unlocked and unattended on a coffee shop table, we download applications from suspicious sources, the list continues. We are blissfully unaware.
Our take
We must design our digital systems to encourage awareness. Whether we add more meat to a call to action within a banking app or simply add a public / private reminder on a login screen. The list goes on. It is our job as those creating the things to remember that mindfulness — awareness — is not always natural. And that sometimes it needs a push.
What we’ve seen
Too often, our money is a source of stress. And the less we touch it, the more theoretical it becomes. Financial exchanges happen seamlessly online. Investments seem complicated and distant. Debt is as much a burden as it is an abstraction. Banks represent a lack of control.
Our take
Why do bank branches have to be so transactional? The vast majority of vital financial transactions can take place virtually. Expectedly, banks are transforming their branches to places that encourage more profound interaction, be it with a financial expert or a group of friends. Such a revolution in the purpose of traditional brick and mortar locations will positively affect the way future generations think of their money and its management, potentially encouraging greater financial awareness and fluency.
What we’ve seen
Mindfulness, and wellness in general, are the new hot travel trends. People are getting away to simply get well — to gain a greater appreciation and sensitivity for their surroundings. Vacation is transforming into an investment in self.
Our take
This is an age-old story of branding and rebranding. Destinations wishing to capitalize on the wellness vacationers should look inward themselves. They should unpack parts of their story that may resonate with such an audience, and communicate that story in a sincere way through all the touchpoints that matter (i.e. business website, ads, review sites, etc…)
What we’ve seen
This is the age of the autodidact (pun very much intended). From the thousands of how-to videos on YouTube, to blogs, forums and unfettered access to good old books, the home mechanic has more educational tools than ever. People are empowered by this access to knowledge and working on their vehicle is one result.
Our take
The auto repair industry isn’t going away anytime soon. Even though more people may have the access to the knowledge to perform maintenance tasks, it doesn’t mean they have the ability, motivation or time. Smart brands should capitalize on this DIY enthusiasm by marketing to it directly. Sponsored meetups and workshops are nothing new, but there is the ability to expand their reach and effectiveness virtually — think about dedicated Facebook groups, user-submitted social media channels and influencer sponsorship.
What we’ve seen
Home security is cutting out the middleman. The popularity of IoT-enabled self-installed home security systems means that we have the ability to keep watch and take action without a third-party monitoring service getting in the way. It’s a cheaper, easier and more personal solution.
Our take
The future is all about the Internet of Things. The IoT has enabled, and will continue to enable, unprecedented communication and control of the things we interact with on a daily basis. Suddenly industries like home security become less about a comforting voice on the end of the line, and more about transparency and control from a smartphone. Traditional home security companies should take a cue from upstart SimpliSafe and offer DIY kits along with their traditional, higher touch products.
What we’ve seen
Banking is changing. The branch experience is undergoing a revolution — changing from a teller-centric model to one in which customers perform many routine tasks (deposits, withdrawals, balance checks, etc…). Tellers who once may have broken bills are being tasked with the more profitable responsibility of selling new banking products like loans, credit cards and checking accounts.
Our take
Too little humanity can lead to frustration and a poor brand experience. It doesn’t matter if the frustration stems from a user or system error, both are equally annoying. Banks should proactively invest in UX design to stave off any customer service issues. Leaders like Capital One and TurboTax have already done so, a few minutes interacting with either of these brands online or within their respective apps is enough to see just how much value solid UX design offers.
What we’ve seen
When’s the last time you’ve used a travel agency? It’s an industry that has been in slow decline for years, ever since the advent of sites like Priceline, Travelocity, Kayak and others. It’s simple to craft a complete vacation from one destination. But where do we go from here? How do these booking companies differentiate? How much more automated can the travel planning process become?
Our take
The online travel booking business is a mature market. The customer experience is polished and proven. So how do companies differentiate? Emerging technologies like predictive algorithms can help these companies gather and crunch a massive amount of publicly available personal data, and turn this data into customer insight, helping offer travel deals and plans before someone searches for them.
What we’ve seen
Purchasing a car is a special mix of stressful and exciting. The process can be especially daunting in urban areas where test drives are claustrophobic endeavors. But car dealerships need potential customers to be able to test drive their whole fleet just as much as car buyers need choice. VR brings the car dealership straight to the customer.
Our take
VR is here to stay. The proliferation of inexpensive headsets that transform nearly any smartphone into a portable VR viewer, as well as the technology within specialized headsets like the Oculus Rift and HTC Vive have enabled nearly anyone to partake in a VR experience. So the question is, will the car dealership as we know it still exist in 10, 15 or 20 years? Customers will soon be able to inspect and test drive vehicles without leaving their homes — as counterintuitive as that sounds, it is the future.
What we’ve seen
Security companies have only begun to scratch the surface of what VR can do for physical surveillance spaces, with some creating apps that allow a 360° view of camera footage. Several years ago, the Defense Advanced Research Projects Agency (DARPA) began using Oculus Rift for 3D network simulations for cyberwarfare, creating an immersive environment that DARPA’s program manager Frank Pound described as being like “swimming in the internet.”
Our take
Thinking down the road a bit, we can imagine a future where VR can be used to provide a sort-of x-ray vision for IT and cyber-security professionals. What if you could put on a headset and scan a network, viewing connections and data flow. What if we could follow the flow of data in a 3D realm, discovering, anticipating and repairing potential breaches.
What we’ve seen
Banking is amidst a revolution. Branches are closing and the role of the bank branch employee is shifting from transactional to sales-focused, all thanks to the convenience and ubiquity of online banking. In-person banking is still relevant, however. Consultative services regarding loans, new accounts and investing benefit from direct person-to-person interaction. Banking executives know this — that’s where VR comes in.
Our take
VR has the potential to change everything — not just banking, but the fundamental way humans interact. It’s at once an unsettling and exciting prospect. It goes without saying that we, as consumers, would be more likely to adopt a VR experience if we are already performing the majority of certain tasks digitally. Such is the case with banking. We’re already comfortable with depositing, transferring and paying solely online — how long is it until we move even the most complex and sales-focused transactions to this immersive and revolutionary medium?
What we’ve seen
Travel can be one of the most impactful experiences of a person’s life, but for many, finances keep it out of reach. And with progressing technology, remote parts of the world are becoming more accessible. Companies like AirBnb are changing not only how we travel with a more localized experience, but who travels, providing more affordable accommodations. But even in this open environment, a larger fear keeps many from experiencing the world.
Our take
VR travel has only just begun. As VR headsets become more accessible and affordable, more people will adopt the technology as not only a form of entertainment, but as a form of experience. While many consumers may not accept VR as a true travel experience, it will play a role in how they plan their travels — test driving cities across the globe. Our question is — will these test drives be something a consumer conducts themselves or could travel agencies make a comeback?
What we’ve seen
It’s hard to believe that car-sharing services like Uber and Lyft have only been around in a real way for about 6 years. In that short time, they’ve fundamentally changed the way we look at transportation. As new car-share services pop up, vehicle ownership is declining, as is the number of people under 24 with driver’s licenses. It’s estimated that by 2030, one in ten cars will be a shared vehicle.
Our take
When we take into consideration the convergence of renewable energy, IoT and automation along with sharing economy services, the possibilities of on-demand travel become fascinating. How does the implication of a shared-vehicle future impact the way we design and build cars? How does it affect the way we design and build roads? Cities? If cars run on batteries and drive themselves, will there be a need for anything other than on-demand?
What we’ve seen
These days, businesses across all industries are looking to adopt an SaaS model. Where enterprise companies used to invest huge amounts in single, sturdy, onsite solution, they can now pay monthly for flexible, cloud-based services that come with customer support an update continuously. Security is no different. And in some ways, a service-based approach to security makes even more sense now that our online lives tend to span such a range of devices and networks.
Our take
Decentralized support makes sense for a decentralized experience. As the objects in our lives become more connected and our connected lives are less distinguishable from our offline experience, can on-demand security services become a unifying factor? In much the same way as a browser saves our passwords and credit card data across devices, can security become an ingrained part of our logged-in life — so effortless and ubiquitous that you forget it’s there. And if so, what new dangers does that invite?
What we’ve seen
The banking industry is being disrupted on all sides. From lending to investing to money management, small, focused fintech companies are offering location-agnostic services that offer cheaper, simpler and more convenient options than a traditional model. While apps like Penny and Albert offer text-message spending insights and Venmo makes paybacks social, Acorns and Betterment are putting investing into the hands of individuals.
Our take
As the world becomes more connected, location becomes irrelevant. ATM fees become obsolete. And as personalized data and insights become the standard, we expect more and less from our banks. We expect more personalized advice, transparency and flexibility. And at the same time less restriction, fewer barriers and fewer steps along the way. How long before unifying forces like Bitcoin become the norm, bringing all of our transactions together into a simple, personal history, accessible from anywhere and beholden to no institution?
What we’ve seen
Between all the travel aggregate sites like Kayak and the emergence of DIY accommodation sites like AirBnb, many people are becoming overwhelmed by choice. But the current model for travel agencies that will do it all for you doesn’t move at the speed of the modern consumer. Consumers are accustomed to buying just about anything with the click of a button — and they’re beginning to expect the same of the travel industry.
Our take
Eventually, every industry will offer services that satisfy the on-demand economy — it’s just a matter of time. For travel, that means getting personal again, but this time in the digital space. Rather than scheduling an appointment with a travel agency, consumers will be able to book their full itinerary with a travel agent that fits right in their pocket. But it won’t stop there, consumers will be able to request travel changes, consult a concierge along the way and more right from their phone.