Proposed Experiment

[Proposed Experiment]: SoCon Fiji - Customer Segment (Empathising) - July 2018

Lean phase: customer segments (empathising)


The following are barriers to applying for loans:

  • Geographical location
  • Lack of financial information
  • Lack of finances
  • Lack of business knowledge

Differences in the following factors will directly influence the disparity in behaviours, needs and wants towards financial assistance:

  • Geographical location
  • Age
  • Occupation/ industry
  • Unbanked or banked
  • Education
  • Income
  • Family structure
  • Financial history and financial inclusion (insurance, superannuation etc.)

Time frame

This experiment should run throughout the duration of December and then should be iterated upon with missed data points.

Success metric

What we are measuring: percentage of people per customer segment (n>30) that identify with one of the above assumptions (both the barriers to a loan)

Green light: If pain points are identified across multiple segments, we can describe them by the demographic factors that identify the correlation between them. We can then start building prototypes and ideating more solutions that fit these identified problems.

Success Point: 60% of respondents identify a specific pain point.

Orange light: Iterations can be made during the experiment if new pain points are identified. They can be added to the list of assumptions that need to be tested.

Failure point: Under 15% of people identified with these pain points.

Red light: If these assumptions cannot be proven, we will research and then identify new assumptions to test to see whether they are pertinent in the Fijian market.

Experiment build

1. Identify 3 relevant customer segments to explore
2. Devise a data collection system of surveys that explores these pain points and the factors that enable them
3. Empathise with AT LEAST n = 30 respondents for each customer segment i.e. 90 people overall.
4. Compare pain points, and analyse data to find the correlation and relevance of each pain point as determined by the relevant factors

edited on 5th September 2018, 23:09 by Justin Hakeem

Andrew Vild 6 months ago

Status label added: Proposed Experiment

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Tom Steel 3 months ago

Socon Fiji Feb

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