AXA Self Investor

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Designing a UX for something totally new

With a radical shift in government policy towards financial advice, AXA wanted to move fast and exploit the new opportunities. They needed an agency that could keep up.

Inspiration

The launch of the Retail Distribution Review

The Retail Distribution Review (RDR) represents one of the biggest overhauls of financial regulation since the Financial Services Act was introduced in 1986. It was instigated with a view to improving service levels and transparency and ensuring the interests of financial advisers and their clients are in line. As this now meant IFAs had to charge directly for advice, AXA recognised there was about to be an explosion in self-investment and wanted to be ready to capitalise on the change. Equator was drafted in to help build a site and a UX that had not previously existed!

23

The Big Number

23 and on time!

23 different discrete user journeys tested. One successful outcome. Done in time! We can’t express how our work improved the ROI or lowered costs or raised Conversion Rate. Everything about the Self Investor project was brand new. A new team in a new office with a new site with a new proposition in a new era of financial services. We just had to make sure our approach to UX was right. This market was new, untested and unknown. Our solution had to be airtight. And on time. It was and it was!

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Connections

Shaping the journey for an uncertain future

Having already worked with brands like Standard Life, Tesco Bank, AXA Winterthur and AXA Wealth, the world of financial investments was familiar territory. The realms of Maxi ISAs, stocks and shares and so on was understood. But nobody could quite tell how the RDR was going to change consumer behaviour. We had to understand the world of ISAs, their complex fee structures and the incumbent competitors. We needed to research how the consumer searched for ISAs and what drove them to buy. We needed to shape a user journey that didn’t exist yet and humanise a dry, complex marketplace.

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Ideas

Divide and conquer

To succeed, we needed to break down the challenge into its component parts. Our teams tackled the various challenges in front of us; how does the consumer research the marketplace? How do they search online? What do the competitors do well? What can we learn from the retail banking marketplace? What does the law require us to do or say?

From desk research to interviews with IFAs and focus group research, we distilled down 8000 keywords, 5 interviews, 24 pieces of consumer feedback and 6 competitor reviews. This gave us a multi-variate testing plan and a solid UX concept.

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Big Numbers

Across the line!

The first measure of success AXA Self Investor had was deliver on time so AXA could be ready to exploit the market change. Of course we did. Our second measure of success was sales. Nobody knew quite what success would look like before launch but it would be Google Analytics that would tell us if we had succeeded in delivering comprehension and interest. From our 23 different iterated tests of the user journey, tone of voice and so on, our launch solution delivered the highest level of interest and lead acquisition and was over 18% more successful than AXA SI had themselves targeted for.

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