Helping couples grow together financially
Wells Fargo Couples Connect
For an agency-sponsored “innovation challenge”, my team came up with an idea to pitch to our client, Wells Fargo.
Couples Connect is a fun, easy-to-use web experience that helps foster financial conversations between couples.
Using a lightweight quiz format, couples can see how their financial personalities combine to start the dialogue about their financial futures together.
INSIGHT #1
Talking about money is hard.
Talking about money with your partner is even harder.
INSIGHT #2
People are looking for guidance
INSIGHT #3
Banks aren’t doing much about it (yet.)
Most major banks don’t address the unique needs couples have; rather, they focus on individual needs. One exception is the Bank of America and Khan Academy partnership to build better money habits. They begin to address couples’ needs, but stop short of providing anything truly personalized.
A few apps have been developed that tackle this issue, but mainstream consumer banks have not really addressed it yet.
REACH
Potential to reach over 30 million people
DEMOGRAPHIC
25-34 year-olds / older millenials
LIFE STAGE
Considering merging finances
Getting married or living with a partner
COUPLES CONNECT CUSTOMER JOURNEY
THE EXPERIENCE, ILLUSTRATED
FIRST COMES DISCOVERY
You can find Couples Connect with an ad when you’re browsing Facebook. You were targeted because you recently changed your relationship status.
Some other places you might run across Couples Connect is Instagram Stories, Pinterest, or on wedding-related sites like The Knot and Zola.
GETTING STARTED
Emojis allow us to talk about identity without requiring gender or roles.
First, you enter in both your name and your partner’s name with emojis to add a level of personalization to the experience. Your partner can change their own emoji once they take the quiz themselves.
THE QUIZ
By answering a mix of fun, relatable questions, you’ll build your individual personality profile.
Questions will center around your financial habits and priorities.
The quiz is not made of right/wrong or true/false questions to test your knowledge; the goal is to uncover more insight about yourself.
YOUR RESULTS
To better work together, it starts with understanding your own behavior in terms of financial habits and priorities.
After taking the test, you’ll receive an overview of you financial personality type along with additional information as to where you fall on a spectrum of certain key traits.
NEXT COMES SHARING
You’ll share the quiz with your partner via SMS. Your partner receives the automated SMS message with a link to take the quiz.
Your partner answers the same questions in order to reveal their unique personal profile.
NOW IT’S TIME TO CONNECT
Reveal your joint financial personality results. The results will use AI to reveal key similarities and differences you and your partner have in terms of financial habits and priorities in order to start the conversation about how to best manage your finances.
By tapping on each section of “Your Financial Mindset” toolbar, you and your partner will get a more in-depth analysis about your combined traits and habits.
ANALYSIS
Couples results will include information about priorities - both the places you’re aligned, and the places you need to discuss further.
Opportunities for bank engagement include:
Providing info for sorting out shared priorities and setting financial goals
Help with setting up a joint account
Providing helpful articles
Scheduling a face-to-face with an advisor, banker or mortgage specialist to build you a tailored plan based on your results
ENGAGEMENT OPPORTUNITIES
After digging into your joint profile results, you and your partner are given personalized tools that tie directly to Wells Fargo services and products to continue the conversation.
SOCIAL SHARING
You can choose to share this experience from your own social channels at any time to encourage other couples to connect and start their own financial dialogue.
Couples Connect is a retention AND acquisition opportunity
By appealing to one partner, you retain a customer and potentially gain another.
Helping them to navigate the transition builds relationship they care most about (the one with each other) as well as their relationship with Wells Fargo.
