projecteverest

[PROPOSED EXPERIMENT] Scalability (Offer testing for Standard model)

by
Jey
Jey | 2 weeks ago | in FarmEd

 

Lean Phase: Solution

Assumption:

  • Businesses are willing to express interest in the application or are willing to purchase it on behalf of their network of farmers.

Time Box:

3 weeks

Goal:

Aim to have meetings with at least 25 businesses.   

 

Key Metric:

  1. Percentage of the stakeholders that sign an MoU for purchasing the application.  (Initial price will not be set, however the MOU will be used to confirm the willingness of businesses to purchase the application)

  2. Percentage of the stakeholders that are not willing to purchase the application but conclude the meeting with a positive outcome

Positive outcome: Strong relation built or further contacts acquired 

 

Green light:

  • More than 60% of the stakeholders are willing to sign the MOU for the purchase of the application.
  • Proceed: Set confirmed pricing plans for individual businesses. (Pricing will be influenced by factors such as scale of business and the number of associated farmers within the network. Yet to be determined)

Orange light:

  • 40% to 60% of the stakeholders are willing sign the MOU showing willingness to purchase the app
  • Optimise: Identify concerns with the application according to businesses and relay information to development team.
  • Optimise: Alter pitch to better address business' concerns. 

 

Red light:

  • Less than 40% of the stakeholders are willing to sign an MOU expressing want to purchase the application 

Failure Protocol: 

  • Redevelop application based off suggestions 
  • Pitch to a different customer segment 
  • Conduct follow up meetings to test new iterations of application

 

Experiment Build:

Pre-departure

  • Research about the company that we’ll be pitching to
  • Familiarise and go through app (dashboard) features.
  • Review hubspot for existing clients and read through minute notes.
  • Have pitch practice and prepare presentation slides.
  • Create feedback spreadsheet/google doc

During

  • Pitch/Explain the benefits pf the application to the company. 
  • Justify why businesses should distribute the application to their network of farmers on behalf of FarmEd
  • Analyze via a spreadsheet/google doc, note down possible improvements and alterations which businesses require
  • Have the companies sign MOU’s.
  • If they are unwilling to sign the MOU, identify factors which are preventing the deal from being closed

Post-departure

  • Send follow up documents, thank you email on hubspot.
  • Collect data from presentations/meetings and send to development team for possible app updates
  • Inform clients of any updates through email 

 

 

 

Tagged users
edited on 16th January 2019, 21:01 by Jey

James Balzer 1 week ago

It's good to see that you're doing this. However, do you have a specific set of questions that you're going to ask in a standardised manner across all of the businesses that you talk to, and more importantly, a means to record the data that you gather? I'm curious as to where the percentages for each of the 'lights' comes from? I think 40% is too low for a Green Light rating, as I would probably aim for 60%+.

What are your thoughts on the above?

Reply 0

Brodie Leeson 6 days ago

For the sake of over communicating we are not pursuing this at this time. While in the future this will be valuable, it is too far away to be spending energy on. We aren't anywhere near data yet and don't even know what it will look like. For now the focus is on the app and the information/guidance we can provide farmers while optimizing our methods to reach scale. With scale comes the value of the data, but we have to hit scale first.

Reply 0

Jey 4 days ago

Thanks for the feedback Brodie! We decided to stick with the current form of the application and focus more on testing whether at its current stage, businesses would be interested in purchasing it on behalf of their farmers. Please let me know what you think about this idea!

Reply 1

Brodie Leeson 4 days ago

Fantastic, that is exactly what we are looking for!

Reply 0

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