Project Everest

Adopted Experiment

[Experiment Adopted]: Currency Test Waste Amisen April 2019

by
Lucy Preiss
Lucy Preiss | 6 months ago | in ROA **TRAINING**

Lean Phase: UVP

 

Assumption:

Mid-High level income households are willing to invest in a reliable and effective Waste Management Solution

 

Success Metric:

We are measuring the rate of conversion from initiating conversation with prospective buyer to pay a deposit. We will test this with 60 households.

 

Time Box:  1 - 2 weeks

 

CRITERIA:

Green Light - Proceed:  Move to MVP phase

 

Success point: 20% of households approached are willing to pay a deposit.

 

Orange Light: 5 - 20% Reevaluate the target market and survey technique (e.g. deposits may be unattractive for customer segment). Re-evaluate customer segment.

 

Red Light - Failure Protocol: <5% Re-evaluate customer segment, broadens, broaden the scope, and redesign experiment.  

 

Experiment build:

Type: Quantitative

Method: Trial

 

  1. Explain the problem of waste back to the local communities.
    “Your community is not reaching its full economic potential. Part of the reason for this is that exposed waste is turning tourists away from the country.”

  2. Explain that we can offer a (trial) solution, which will collect our customers’ waste more efficiently, employs local Amasinians, and costs $18*.

  3. *Pricing test conducted as follows:

  1. Offer potential customers the opportunity to trial our service.

  2. If customers find $18 too expensive, offer an introductory rate of $12. Repeat if too expensive and offer $6. Do not go below $6.  

  3. Note conversions at each price point.

  4. Offer those who paid higher prices added benefits, such as extra weeks free.

  1. Measure: Number of people pitched to. Conversion rate (at each price point).

Lucy Preiss 6 months ago

Status label added: Experiment adopted

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