Project Everest

Adopted Experiment

[PROPOSED EXPERIMENT]: Revenue streams - Credit Plan Testing - Fuel I Timor-Leste December 2019

Lean phase: 

Revenue streams 

Assumption

It is assumed that individuals in Dili will be interested in taking on one of the two developed credit plans (blue or yellow) in order to pay the full price of the Fugaun Seguru with minimal financial impact. 

Time box

Confirming next actions with 80% (approx 133) targets (based on availability of EOIs) Set at 80% as an attainable goal.

Estimated time box as a result is 6 weeks. 

Success Metric:

Percentage (%) of EOIs converted to 

  • customers (blue plan) 

  • customers (yellow plan)

  • customers (green plan)

Percentage (%) of EOIs requesting future re-engagement 

Percentage (%) of EOI’s withdrawing interest 

Criteria

Green light, proceed: 
Proceed with current blue and yellow credit plan options. 

Success point: 
• 40% of people in our customer segment are interested in/take on the proposed credit plans.
• 5% of people purchase outright 

Orange light, optimise: 
Re-evaluate current credit plans focus on features of the credit plans people were uncomfortable with or couldn’t understand. 
Empathise with customers to determine how they would change/alter the current plans.

Failure point: 
• 20% of people in our customer segment are interested in/take on the proposed credit plans 
• 2% of people purchase outright 

Red light failure: 
No interest in our current credit plans. Revisit current credit plan models and options and return to EOIs 
Empathise with customers to determine other methods of payment 

Experiment build:

  1. Develop blue (3 installments) and yellow (2 installments) credit plans based on survey data collected throughout the Fuel sustainability Timor project as alternatives to the green plan (outright payment in full) 

  2. Develop contracts for both blue and yellow credit plans to present to customers outlining the terms and conditions of the plans and therefore ensuring security in the repayments. Translate contracts into Tetum through university interns and print. 

  3. Prepare CRM and EOI spreadsheet for collecting ongoing customer data. Review prior to stepping off for each engagement. 

  4. Divide established EOI’s into geographical zones and delegate each team (2-3 members + intern) to a zone

  5. Approach existing EOI’s following up on their interest in the stove and offering credit plans as well as engaging adhoc leads concurrently, using sales script (attached) 

  6. Review credit plans at 20,70,133* interactions/data points if results consistently fall in the red light region reconsider credit plan options prior to engaging full EOI list to avoid burning EOIs 

*80% target of established EOIs as of COB: 06/12/2019

 

REPEAT EXPERIMENT IN GLENO

Use the same assumptions, metrics, time box and criteria.

Experiment build:

1. Review blue (3 instalments) and yellow (2 instalments) credit plans based on survey and previous EOI data collected throughout the Fuel sustainability Timor project as alternatives to the green plan (outright payment in full).

2. Review contracts for blue and yellow plans, ensuring all data required for sales and the CRM will be gathered. Translate contracts through university interns and print.

3. Prepare CRM and EOI spreadsheet for collecting ongoing customer data. Review prior to stepping off for each engagement. 

4. Divide geographical areas of Gleno to include established EOIs, and delegate each team (2-3 team members) to a zone.

5. Approach existing EOI’s following up on their interest in the stove and offering credit plans as well as engaging potential new EOIs concurrently, using sales script.

6.  Review credit plans using data from Gleno at 30 & 60* interactions/data points. If results consistently fall in the red light region reconsider credit plan options prior to engaging full EOI list to avoid burning EOIs.

 *100% target of established EOIs as of COB: 17/12/2019

 

REPEAT EXPERIMENT IN HERA

Use the same assumptions, metrics, time box and criteria.

Experiment build:

1. Review blue (3 instalments) and yellow (2 instalments) credit plans based on survey and previous EOI data collected throughout the Fuel sustainability Timor project as alternatives to the green plan (outright payment in full).

2. Review contracts for blue and yellow plans, ensuring all data required for sales and the CRM will be gathered. Translate contracts through university interns and print.

3. Prepare CRM and EOI spreadsheet for collecting ongoing customer data. Review prior to stepping off for each engagement. 

4. Divide geographical areas of Hera to include established EOIs, and delegate each team (2-3 team members) to a zone.

5. Approach existing EOI’s following up on their interest in the stove and offering credit plans as well as engaging potential new EOIs concurrently, using sales script.

6. Review credit plans using data from Hera at 30 & 60* interactions/data points. If results consistently fall in the red light region reconsider credit plan options prior to engaging full EOI list to avoid burning EOIs.

*100% target of established EOIs as of COB: 17/12/2019

 

 

edited on 20th December 2019, 00:12 by Tara Mayne

Lily Partridge 2 months ago

Status label added: Proposed Experiment

Reply 0

Lily Partridge 2 months ago

Can you please clarify what you mean by:
Hitting 80% (approx 133) targets (based on availability of EOIs)
Is there a reason you're not going for 100? Is 80% a safe estimate to validate? And is hitting "engaging with" or confirming next actions?

If you're only hitting 80%, maybe revise your 3rd check in to reflect your 80% EOI point

Reply 1

Kate McKellar-Stewart 2 months ago

updated in experiment build and in time box

Reply 0

Lily Partridge 2 months ago

Can you please clarify what you mean by:
Hitting 80% (approx 133) targets (based on availability of EOIs)
Is there a reason you're not going for 100? Is 80% a safe estimate to validate? And is hitting "engaging with" or confirming next actions?

If you're only hitting 80%, maybe revise your 3rd check in to reflect your 80% EOI point

Reply 0

Lily Partridge 2 months ago

Status label added: Adopted Experiment

Reply 0

Lily Partridge 2 months ago

Status label removed: Proposed Experiment

Reply 0