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Experiment Results

[Experiment Results]: SoCon Malawi - Mobile Money (2/2) Knowledge and Usage - December 2018

Lean Phase: Channel Testing

Assumption: Consumers are familiar with, know how to use, and are willing to use mobile money as a payment system

Through empathising with 90 consumers across three geographic regions of Blantyre, Limbe, and Nancholi, SoCon should be able to identify that consumers are familiar with, know how to use and are willing to use mobile money. This will be proven through validation 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

Through empathising with 95 customers across a strong geographical spread, SoCon should be able to prove that mobile money is a viable tool for accessing loan services in the Blantyre region. If this is validated, the next stage is for SoCon to move onto the loan structures experiment.

 

Results

RESULTS:https://docs.google.com/spreadsheets/d/1MTBJz...it#gid=10657265

Familiar with and know how to use it:

We found it to be most successful combining the first two assumptions when conducting surveys, as we found it difficult to separate them. In Central Blantyre, it was found that 91% of respondents are familiar with mobile money, and find it easy to use. In Limbe, an overwhelming 100% of respondents are familiar with mobile money and find it easy to use. In Nancholi, a comparatively smaller majority of 83% are familiar with mobile money, and understand how to use it.

 

Willing to use:

In Central Blantyre, 74% of respondents use mobile money. In Limbe, 92% of respondents use mobile money. In Nancholi, 71% of those surveyed use mobile money. The overall trend is that a strong 79% use mobile money. Out of those surveyed who were not current users of mobile money, 80% stated that they would be willing to use mobile money in the future.

 

Validated Learning

Conducting this experiment allowed SoCon to validate all three of the assumptions regarding knowledge and usage of mobile money in the Blantyre region.

The first two assumptions were successfully validated by our findings, indicating that an overall 83% of the 95 individuals surveyed are familiar with mobile money, and find it easy to use. The remaining 17% surveyed who identified as unfamiliar with mobile money, with some commenting that it was at times “too hard”.

The final assumption of willingness to use mobile money was successfully validated within this experiment. Whilst 79% of respondents use mobile money at present, 80% of those who voted ‘no’ indicated a willingness to use mobile money in the future.

 

Next Move

The next move following completion of those experiments is to:

  1. Understand the factors preventing individuals from using mobile money

  2. Move onto the Loan Structures experiment

Ella Grier 4 months ago

Status label added: Experiment Results

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