projecteverest

[Proposed Experiment] SoCon Fiji December 2018 - Income Cycle

Income Cycle Experiment

Lean Phase:
Revenue

Assumption:
That an individual's income cycle is monthly and that they are prepared to make payments on a monthly basis

Purpose:
To verify that a monthly repayment scheme is viable for the proposed customer segment.

This experiment correlates with the monthly repayments experiment.

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

Success Metric:
Metric: % of people
1. Get paid monthly
2. Who don’t get paid monthly are prepared to make monthly repayments for the loan.

Green Light
Proceed to monthly repayments experiment.

Success Point
In order to proceed we require 50% of people to have a monthly income, or those who are not on a monthly income are prepared to pay back the loan on a monthly cycle.

Orange Light
Proceed to offer a fortnightly option and see if this option will meet our success point.

Failure Point
< 30% of people have a monthly income and are prepared to pay on a monthly basis.

Red Light
Explore whether customers would need payments to be in line with their income cycle and whether or not this would be viable for project everest to implement.

Experiment build:
1. Create a survey based on the above success metrics
2. Identify the different geographical locations based on different income levels (if                  possible) to validate assumptions with
3. Organise village visits
4. Execute survey
5. Measure results and post experiment results

Tagged users
edited on 19th December 2018, 00:12 by Dana Yeaman
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