Proposed Experiment
Under Review

[Proposed Experiment]: SoCon Fiji - Income Cycle Testing (1/2)

Naomi Boulton
Submitted by
Naomi Boulton | 3 months ago | in Fiji - Social Consulting

Lean Phase: Customer Segment

Assumption: Buka Stove customers are paid on a monthly financial cycle and willing and able to make loan repayments on a monthly basis. Or they aren’t paid monthly but are willing and able to make monthly repayments.

Purpose: To verify the financial cycle on which customers are paid and if they are willing and able to make repayments on a monthly basis.

Time Box: 1 week

Success Metric:

Metric: % of people

1. Get paid monthly. OR

2. Who don’t get paid monthly but are prepared to make monthly repayments for the loan.

Green Light - Proceed to offer testing loan structure.

Success Point - In order to proceed we require 60% of people to have a monthly income, or to be willing to make monthly repayments regardless of their financial income cycle.

Orange Light - Iterate on survey build, the financial terminology used, etc.

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, including questions about which payment frequency they think they would be willing and able to pay, and which they would prefer if they had the choice.

2. Organise village visits

3. Execute survey

4. Measure results and post experiment results

edited on 1st January 2019, 22:01 by Jess Riley

Wade Tink 3 months ago

Consider removing the noise around how they get paid. The important learning for the business is whether the customer is willing and able to repay on a consistent basis.
If the experiment design can be built around other experiments then I think that would be helpful.

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Rose Martin 3 months ago

I see your point.

I guess these experiments are two fold and possibly I'm missing the point here. I won't do a deep dive into savings because I think it's a waste of time, but I think the important points are to understand generally;
a) the av income of the customer, or level of discretionary spending,[i.e. this looking at ABILITY to repay] and
b) given this level of discretionary spending, would they be willing to put aside money either monthly, weekly, etc. [i.e. looking at WILLINGNESS to repay and importantly, at what intervals e.g. monthly/weekly etc.]

So do you think it would make more sense to split the experiments up that way, i.e. 1/2 ability, and 2/2 willingness ?

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Rose Martin 3 months ago

And on your point on experiment build, they will most definitely be built around just conducting other experiments e.g. sales so ill make that clearer in the build

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Jess Riley 3 months ago

Status label added: Under Review

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Jess Riley 3 months ago

Status label added: Proposed Experiment

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