Project Everest

Adopted Experiment

[Experiment Adopted]: SCALEABILITY (1/2) - OFFER TESTING - FarmEd Fiji December 2018

by
Grace Blackford
Grace Blackford | 8 months ago | in FarmEd - Fiji

Lean Phase:

Offer testing. With the Beta platform of the MVP in hand ready for sales the goal will be to enable scaling of sales in a way that is fast and repeatable in different countries.

 

Assumption:

1. We a have a promising enough product that Coops, NGOs, charities and businesses would be interested in sharing their population access with us.

2. Larger corporations will be interested in and willing to eventually pay for the data that our app provides

 

Time Box:

Three weeks of formal business correspondence and meetings. Upon conclusion evaluate success metric and repeat with adaptations necessary

 

Success Metric:

The goal here is scale, access to large numbers of people. This comes as a result of successful business meetings and agreements for mutually beneficial actions. For this to happen the success metric will be based of successful meetings where we come away with access to a database or a beneficial partnership going forward.

Green Light- Proceed (User experience surveys and data collection)

Success point: If 2/3s of meetings are positive (even if they don’t have a database of people to share/willing to sign an agreement regarding our data but are willing to work with us going forward in some capacity that is a success) then this suggests that what our business is providing and what we can do for them/the population is positive enough for businesses to saee value in working with us.

Orange Light- Optimise (The App may not be providing enough of the key desires of the farmers or there may be concern for the business model or future growth/ decisions. In any business meeting an understanding of what the business wants long term should be developed and how we come into that. If the business continually misaligns with these or if concerns are raised about aspects of the business these should be noted and worked through).

Failure Point: If above 40% of meetings are successful it suggests that people can see the value and are interested but it might be missing some small key values or may need further thinking through. See Orange Light.  If below 40f% the business or product has some flaws that potential stakeholders are spotting and these need to be addressed before continuing with partnership meetings

Red Light- Failure Protocol

The source of the concerns or reasons for not wanting partnerships need to be discerned and addressed. Some key possibilities are::

  1. The app does not appear to provide enough value (many updates and new features are coming a timeline of essential updates should be developed

  2. Flaws in perceived value or revenue structure, The revenue structure is open to some malleability.

  3. Issues with the business

  4. Competition

  5. Struggling to see value for them.

  6. Not having the data which forms out value prop to show to potential larger partners

 

Experiment build:

Conducted through extensive research of potential partners, competition and anyone working in the area (locationally, not focus related, they could be a ballet shoe ribbon seller with an unreasonably large database of customers for reasons we can’t quite fathom).

 

Goal

Putting a number here is difficult. We want scale. That could be accomplished in one absurdly successful meeting or in 15 minorly successful meetings. To maximise chances though we would want to be in contact with 30 potential partners over the month.

 

edited on 3rd December 2018, 01:12 by Alex Staples

Kai Faulkner 8 months ago

Sounds amazing, excited to see the results of this!

Is there anyway of ranking the quality of your leads and considering that into your experiment. For example Success in one really influential lead could outweigh failure in a few weak leads, or failure in one really strong lead might give all the tells that you need to move through the red light protocol and look at change to the MVP.

Also, what is the strategy for sourcing leads and trying to make as many of those strong leads?

I like the assumptions aswell, but of course I think that it's important that you are conscious about providing strong value to them in return for their population (whether its direct or indirect). With the data sales, I feel that you definitely need to reach out and talk to a few corporations to ensure that they do buy that kind of data or there needs to be some other pre-requisite within the industry.

Looking forward to seeing how you get on with it all Grace and team! Keep us updated :)

Reply 2

Melissa Lee 8 months ago

Hi Kai, thank you for the question!
We are currently trying to reach out to hotels/NGOs which we have had contact with during the workshop/blueprint phase as well as stakeholders who source locally. The value that we want to deliver to these stakeholders is the improved quality of produce and the positive social branding.

The data sales will be directly linked to the distribution of the app. Our plan is to shift the app payment from individual farmers to these big companies, so that the farmers do not have to take on the liability of payment. From previous research, it has been shown that resorts tend to source from a network of farmers, therefore, data (e.g. crop yield, crop diversity...) of their network would be able to provide real life update on where to source their produce and make adjustment base on that data.

I hope that answer your questions!

Reply 1

Grace Blackford 8 months ago

Hi Kai, thank you for this!

We can most definitely look into ranking the quality of leads. If the meetings with larger hotels goes well, this could mitigate the potential for smaller meetings not providing valuable leads, due to their extensive network of suppliers.

FarmEd II are currently seeking leads through identifying stakeholders and developing stakeholder analyses before emailing them. This allows them to determine the validity of these sources. Further, the team members have been empathising in Sigatoka town and talking to market vendors who have shown great interest in the idea of the APP. They are currently developing a proposal and pitch deck in order to qualify the leads after the first meeting. This will ensure that the stakeholders have a clear idea of the direction in which FarmEd is going. This proposal will also qualify those who are interested in buying the data from the app.

I hope this answers your questions!
Thank you :)

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Alex Staples 8 months ago

Status label added: Experiment adopted

Reply 0

Fiona Aaron 8 months ago

How is the research of the companies and setting up meetings coming along? I think you're right in saying that it's difficult to come up with a number for a success metric for this experiment. I think what is important is understanding what qualifies as a 'strong lead' as Kai mentioned before. What do we want out of it and what is the value proposition for them per industry we are targetting.
So for example, what is useful to a hotel might be completely different to what is useful for an NGO or Co-op. Make sure to understand this so that your value can be effectively pitched to them.
Also, please make sure to make note of any and all objections given to you by prospects. This is a crucial part of learning and ensuring that our final product meets the needs of our customers. :)

Reply 0

Fiona Aaron 8 months ago

Any update on my comments Grace and Mel?

Reply 0

Grace Blackford 8 months ago

Hi Fi, thank you for your questions!

In terms of the research of companies, the team has completed over 70 stakeholder analyses and within the month has attended 23 meetings. These meetings and analyses have been with a mix of NGOs, charities and businesses.
Each meeting, the team has decided what path they would like to go down (pitching for access to network of farmers/pitching the sales of the app on a corporate level).
We have compiled meeting minutes for each meeting and these are noted in Hubspot along with any objections they have posed. We will propose a new experiment for January to test the user experience of the app for the B2B sales that we conduct.

I hope this helps!

Reply 0

Melissa Lee 8 months ago

Sorry for the late reply!
So far the team has met up with 23 stakeholders with a mix of small exporters, NGOs and corporates. While the team is pitching, we always aim to align our values with theirs, and that we are able to deliver the value prop for them.

Since this is the first time FarmEd has approached businesses/NGOs with a tangible product, we had anticipated objections which relates more to the creditability of FarmEd and the validity of the app.
Throughout the month, the team has made note of the feedback and objections that we have faced. We have found that, it is mostly related to the functionality of the app and the limitations of the crops included in the app.

https://docs.google.com/document/d/1-3J8YgDbg...0ewuKR5m34/edit

Here's a more detailed document on the feedback we have received from each stakeholder.

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