mrs members' evening - march 2016

Anjul SharmaHead of Client DevelopmentFreshMinds

ON YOUR SIDEResearching society’s most vulnerable

with true empathy

Drew DreweryCustomer Experience

Nationwide

To deepen our understanding of financial difficulty

What are the triggers and warning signs of financial difficulty?

What actions do those facing financial difficulty take?

What emotions do those in financial difficulty experience?

THE GOAL

OVERCOMING THE OBSTACLES

A highly sensitive topic

The need for balance

THE SOLUTION

Phase 1: Explore thoughts and feelings

Phase 2: Validate findings

MEET LINDSAY AND SIMON

Job re

lated

facto

rs

Perso

nal or

family

chan

ges

Econom

y or in

dustry r

elated

Health

issues

Needed

to m

ake a

large u

nexpect

ed ex

penditu

re

Gaming or

betting

Other

51% 50%

30% 26% 25%

4% 11%

TRIGGERS OF FINANCIAL DIFFICULTY

LINDSAY AND SIMON CHAT

EXPECTING CONTACT WITH BANKS TO BE

63%

37% Immediate

responseDelayed response

felt there was no solution so didn’t react

ACTIONS TAKEN BY THOSE IN FINANCIAL DIFFICULTY

Immediate reaction when faced with financial worries

Reasons for delaying contact

thought the situation would improve78%

44% avoided contact with those they owed money 35%

LINDSAY AND SIMON CHAT

THE TOUGH EMOTIONAL JOURNEY

Denial and isolation Anger Identity

crisisRe-

evaluation Accepta-nce

WE GOT FURTHER, FASTER BY∕ Putting the customer at the heart of the challenge

∕ Breaking the confines of research

∕ Getting commitment from stakeholders

Anjul SharmaFreshMinds

Anjul.Sharma@freshminds.netwww.freshminds.net

QUESTIONS AND DEBATE

Drew DreweryNationwide

Drew.Drewery@nationwide.co.uk

www.nationwide.co.uk