projecteverest

Proposed Experiment
Under Review

[Proposed Experiment] SoCon I, Fiji Jan 2019 Testing Buka 4.0 Payment Plans (1/2)

Lean Phase: Solution/Revenue Streams.

Assumption: Buka stove customers that are interested in a payment plan, are satisfied purchasing a $90 Buka Stove 4.0 for $135 on a 3 1/2 month, mobile payment plan.

NB: The purpose of this is to test the acceptance of the payment plan and mark up price.

NB: These prices need to be confirmed, but the concept behind structure of payments can be found here: https://docs.google.com/document/d/1fRr4budMMGO1CnVcC-3CAMAxowQRtzAqctNAZS8kSwQ/edit

Time Box: 3 weeks

Success Metric: 
Metric: % of people providing an EOI charging $135 for a payment plan

NB: The EOI is not being taken in the form of a signed document, but rather perceived interest, handing over of contact details, and willingness to answer survey questions

Green Light - Proceed with implementation of the default rate experiment and analysing default rates (contingent on availability of stoves).

Success point - More than 70% express interest.

Orange Light - Work with Fuel team to iterate on sales pitch and explanation of SoCon and Fuel team’s proposition.

Failure Point - If less than 30% express interest

Red Light - Failure Protocol is to revise payment plan structure, in order to attract more EOI's or revise the problem space.

Experiment build:
Testing 50 people

1. Design a survey:

a.   Demographics
b.   Are you interested in using a payment plan to purchase a Buka stove?
c.   Do you have access to a mobile money system like M-Paisa?
d.   If not would you be interested in using a mobile money system for this payment plan?

2. Creating google sheets and spreadsheets
3. Set up interview/sales script and practice
4. Set up interviews with customer segment (those wanting to purchase a Buka stove)
5. Conduct surveys
6. Organise data and analyse results
7. Upload results to Crowdicity

 

edited on 10th January 2019, 21:01 by Naomi Boulton

Jess Riley 3 months ago

Status label added: Under Review

Reply 0

Jess Riley 3 months ago

Status label added: Proposed Experiment

Reply 0

Fiona Aaron 3 months ago

Interesting experiment. Curious to see the results of this to see if people are thrown by the price increase.

Reply 0

Share