projecteverest

Experiment adopted
Complete

[Experiment Adopted]: Mobile Money (2/2) - Knowledge and Usage

Lean Phase: Channel Testing


Assumption: that consumers are familiar with, know how to use, and are willing to use mobile money as a payment system. We need to prove that:
1. They are familiar with mobile money, and
2. They know how to use mobile money (ideally, they are current users), and
3. They are willing to use mobile money to access financial services


Note: these variables are very location-dependent; therefore, it is important to validate this across a strong geographic spread


Time Period: 1 week (or time taken to survey 30+ consumers in a particular geographic region)


Success Metrics: % of people who:
1. Know how to use mobile money, and
2. Regularly use mobile money, or
3. Are willing to use mobile money


Criteria:
Success Point: if more than 50% of customers know how to use mobile money, and over 40% current use mobile money regularly, or would be willing to use mobile money
            Green Light: proceed to Loan Structure experiment
Orange Light Point: 30% - 50% know how to use mobile money, but 20% - 40% currently use or would be willing to use mobile money
            Orange Light: understand what is stopping them from using mobile money
Failure Point: <30% know how to use mobile money, or <20% currently use or would be willing to use mobile money
            Red Light: How easy/costly would it be to teach how to use mobile money? Alternative payment systems?


Experiment Build:
1. Create a survey based on above success metrics/criteria
2. Identify geographic locations to validate assumptions with
3. Organise survey visits
4. Execute survey
5. Measure results and post experiment results


P.S. this experiment can be conducted in conjunction with the Village Bank experiments - for village banks, it will likely be simpler if we investigate whether the village bank has access to mobile money payment systems (rather than each village bank customer). If there is already a payment collection system that works effectively, it will be more efficient for us to collect a single payment per village bank, instead of collecting individual repayments from each customer.

edited on 4th December 2018, 08:12 by Alex Staples

William Lee 5 months ago

Willigness to Use can be quantified or tested by getting people to deposit money into a PEV account - this would be a Currency Test.

Reply 0

Rose Martin 5 months ago

Are these experiments for a specific customer segment? For solar? or Village bank users perhaps?

Reply 0

William Lee 5 months ago

It isn't specific to a customer segment - it is a channel test that could be applicable to all projects, given payment systems could apply to them all. For example, if we were to sell solar through a village bank, this would apply. The obvious limit is for potential customers that are not part of village banks.

Reply 1

Alex Staples 4 months ago

Status label added: Experiment adopted

Reply 0

Ella Grier 2 months ago

Status label added: Complete

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