Project Everest

Adopted Experiment

[Proposed Experiment]: Customer Segment - Offer testing MVP to Financial Institutions - SoCon Fiji January 2020

Lean phase: Customer Segment 

Assumption: Banks see the value in our services for themselves and their customers and express interest in future collaboration with PEV.

 

Time box: 3 weeks

Success metric: % of banks that are interested to collaborate with PEV in the future and are keen to hear more about PEV’s services. 

Criteria: Trying to create a mutually beneficial relationship with three banks where a referral system is set in place. The aim is to make the banks aware if PEV and services and gather interest for a collaboration in the form of a partnership in the future. 

 

Green light: 2/3 banks approached expressed interest in PEV and the MVP and services and agree to meet again to hold discussions about a partnership. 

 

Success Point: 66% show interest in PEV’s services and are willing to meet to further discuss a partnership. 

Orange light: Improve MVP features to align with bank specifications. Keep in contact with banks and survey to know what to include and expand the MVP. Improving both PEV’s reach and MVP features would increase the chance of banks showing interest in a collaboration. 

 

Failure Point: 0% of banks agree to refer unsuccessful loan customers to PEV. 

Red light: Banks do not express and interest in PEV and their Services for reasons such as believing a partnership is too risky to them or the prospect of losing some interest income by giving us a percentage of it as commission. Determine the factors that have resulted in a lack of interest and iterate the MVP.

 

Experiment build:

  1. Research banks in Fiji and compile a comparative document outlining key features about each bank. 

  2. Choose which banks to approach based on the research done in 1) 

  3. Design a survey for FI’s 

  4. Write up a call script and make contact with the banks to arrange a meeting time 

  5. Meet with representatives from the bank and go through survey questions. Ensure to ask them what they may also expect from PEV and the MVP. 

  6. Collate data from the survey. Analyse and conclude which banks are willing to refer their customers to PEV and continue to test and potentially develop a partnership plans. 

 

 




Tagged users

Haziq Ahmed 3 weeks ago

Status label added: Adopted Experiment

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