Project Everest

Adopted Experiment

[JAN 19] [REPURPOSE] Outsourcing Recyclables

 Assumptions:

  1. There are companies with active resources to take recovered plastic and glass for recycling.

  2. These companies are accessible through the internet, telephone and face to face interactions.

  3. They have the capacity to take the recyclables from ERS.

 

Time Box: 4 weeks (Ending on 29/01/19)

 

Success Metric:

 

Key Metric: The extent of engagement when contacted.

 

Metric Measure: The conversion rate of engagement

 

The rate can be measured in various forms:

 

  • At the Reach Stage:

Engagement = (Number of Emails Replied/Number of Phone-calls attended/Number of Emails Sent/Number of Phone calls made)

 

  • At the EOI Stage:

 Engagement = (Number of Proposals acknowledged/Number of Proposals Sent Out)

 

  • At the Close Stage: Engagement = (Number of Contracts Signed/Number of Contracts Offered)



Green Light Action - Continue with current approach of engaging with potential customers.

Success Point: Engagement ratio of Greater than 66%

 

Orange Light Point - Engagement Ratio between 33% to 66%

Orange Light Optimise - Re-evaluate the reach approach, send/make follow up emails/calls and try scheduling walk in interviews/face to face meetings. Review the proposal/contract and try to offer better terms. Reach out more customers and customer segments

 

Failure Point - Engagement Ratio less than 33%.

Red Light - Need to reassess what we are offering to which particular customer segments. Re-evaluate the reach approach, send/make follow up emails/calls and try scheduling walk in interviews/face to face meetings. Review the proposal/contract and try to offer better terms. Reach out more customers and customer segments. Repeatedly low engagement ratio reflects that there is no scope for progress.

 

Experiment build:

 

  1. Shortlist potential target companies, do extensive research to find mutual benefit.

  2. Reach:

  1. Send Email: Establish point of contact.

  2. Follow-up with a call: After establishing a point of contact, call back to follow up and set a face to face meeting to discuss future partnership

  3. Face-Face Meeting: Schedule a face to face meeting or video call with to present progress of ERS service and future ambitions.

 

Evaluate current Traffic Light status based on engagement. If Green and Orange light proceed to step 3 and orange optimise. If in failure point deploy red light control measures.

  1. EOI:

If the contacted companies express interest, send in proposal.

  1. Engagement Ratio of Proposal in Green Light, Proceed to step 4.

  2. Engagement Ratio of Proposal in Orange Light, Proceed to Step 4 and orange optimise.

  3. Engagement Ratio of Proposal in Red Light, Restart at step 1 and deploy red light control measures.

  1. Close:

If the contacted companies remain interested, send in contract.

  1. Engagement Ratio of Proposal in Green Light, Proceed to step 4.

  2. Engagement Ratio of Proposal in Orange Light, Proceed to Step 4 and orange optimise.

  3. Engagement Ratio of Proposal in Red Light, Restart at step 1 and deploy red light control measures.

  1. Update Workhub and hubspot and continue with developing partnership.

edited on 22nd January 2019, 11:01 by Matthew Rafferty

Harry Telford 9 months ago

Status label added: Proposed Experiment

Reply 0

Harry Telford 9 months ago

Status label added: Experiment adopted

Status label removed: Proposed Experiment

Reply 0