Slides from the Product Strategy and Jobs to be Done monthly meet up, May 2017.

1. Retail
Investment – the
JTBD challenge
Stephen Mohan
product strategy and
jobs to be done
may 23rd 2017

2. Retail
Investment – the
JTBD challenge
Stephen Mohan

3. Retail
Investment – the
JTBD challenge
Stephen Mohan
wardour street, soho

4. Retail
Investment – the
JTBD challenge
Stephen Mohan
wardour street, soho
Paul Geeks Out

5. Retail
Investment – the
JTBD challenge
Stephen Mohan
Brainhacking on
the Backlog?

6. Retail
Investment – the
JTBD challenge
Stephen Mohan
neuroscience
+
product design

7. Retail
Investment – the
JTBD challenge
Stephen Mohan
Time Well Spent

8. Retail
Investment – the
JTBD challenge
Stephen Mohan

9. Retail
Investment – the
JTBD challenge
Stephen Mohan

10. Retail
Investment – the
JTBD challenge
Stephen Mohan
“Time
on
Device”

11. Retail
Investment – the
JTBD challenge
Stephen Mohan
● Videos that autoplay as soon as the previous one
ends. (YouTube, Netflix)
● Notifications that interrupt you with vague messages
like 'Ben just posted something interesting.' (Linkedin,
Facebook)
● Images that load slowly forcing users to focus more
intently. (Instagram)
● Infinitely scrolling screens. (Everyone)

12. Retail
Investment – the
JTBD challenge
Stephen Mohan

13. Retail
Investment – the
JTBD challenge
Stephen Mohan
● Videos that autoplay as soon as the previous one
ends. (YouTube, Netflix)
● Notifications that interrupt you with vague messages
like 'Ben just posted something interesting.' (Linkedin,
Facebook)
● Images that load slowly forcing users to focus more
intently. (Instagram)
● Infinitely scrolling screens. (Everyone)

14. Retail
Investment – the
JTBD challenge
Stephen Mohan

15. Retail
Investment – the
JTBD challenge
Stephen Mohan
● Videos that autoplay as soon as the previous one
ends. (YouTube, Netflix)
● Notifications that interrupt you with vague messages
like 'Ben just posted something interesting.' (Linkedin,
Facebook)
● Images that load slowly forcing users to focus more
intently. (Instagram)
● Infinitely scrolling screens. (Everyone)

16. Retail
Investment – the
JTBD challenge
Stephen Mohan
Nir
Eyal

17. Retail
Investment – the
JTBD challenge
Stephen Mohan

18. Retail
Investment – the
JTBD challenge
Stephen Mohan

19. Retail
Investment – the
JTBD challenge
Stephen Mohan

20. Retail
Investment – the
JTBD challenge
Stephen Mohan

21. Retail
Investment – the
JTBD challenge
Stephen Mohan
The 4 Forces of
Progress

22. Retail
Investment – the
JTBD challenge
Stephen Mohan
Push Pull
Habit Anxiety
CURRENTBEHAVIOUR
NEWBEHAVIOUR

23. Retail
Investment – the
JTBD challenge
Stephen Mohan

24. I want to explain the challenge around the
Progress Forces Model
24
“Business
as usual”
New
Behaviour
Push of the situation Magnetism of new solution
Habit of the present Anxiety of the new solution
Forces promoting a new choice
Forces blocking change
Concept or new way

25. Let’s apply this to buying a car
25
Each year, about 1 million new and 8 million used cars are bought privately in the UK
Spent £1,000 just to get MOT
Feels “flabby”
Nobody else has one
Sharp & fun
Quite new
But I have just spent £1,000 on it
Can’t I just make do for a while?
Can I afford it?
Will I damage it?

26. So the blocking forces are typically financial
Spent £1,000 just to get MOT
Feels “flabby”
Nobody else has one
Sharp & fun
Quite new
But I have just spent £1,000 on it
Can’t I just make do for a while?
Can I afford it?
Will I damage it?
26
I do not know what the return is on
savings/investments
The loan is easily arranged
by the dealer
Am I used to being in debt? Can I afford it?
Save up/
Invest
Take a
loan
80% of new
cars bought
through
finance

27. The gap between debt and savings grows apace
27
15
10
5 Savings Ratio % (left axis)

28. The challenge is that as debt becomes more
commonplace, investment gets harder to “sell”
• Long term savings and investment have uncertain outcomes:
• More certain outcomes yield lower potential benefits
• Debt has certainty of outcome: a monthly charge is set out as part of the agreement
• The Baby boomers had:
• Free university education
• High inflation making housing a long term one way bet
• Defined benefits pensions guaranteeing them (often index linked) post work income that they
never overtly saved for
• Millennials face:
• University debt at twice average earnings
• House prices at 8 times average earnings
• No obvious inflation
• The need to save for their pension without certainty of outcome
• The retail investment industry has a huge responsibility (and opportunity), but:
• Is still targeting boomers
• Doesn’t have the tools to overcome the Progress Forces model
28

29. Retail
Investment – the
JTBD challenge
Stephen Mohan
product strategy and
jobs to be done