Challenge:

I work at a transport technology company which operates in emerging markets. The company was  looking to expand into financial services by tapping into the large number of existing customers who  were mainly from the unbanked and underbanked segments. We had studied the competition (who  provided similar products in adjacent markets) in order to shape our understanding of the type of  financial services (namely lending) product that could be successful in the markets we operated in. On  top of that we had hired an independent market research firm to run quantitative studies and focus  group discussions to further understand how best to structure our product for each market. This had  resulted in the collection of large amounts of data, both in the forms of anecdotal insights and  quantitative analysis. Unfortunately the team had reached a stage of analysis paralysis and was not  making significant progress in launching our first iteration of the product or MVP (minimum viable  product).

Selection:

The design thinking tool I selected for this scenario was the mind-mapping tool. I hoped that using mind- mapping would help in taking the team from the data collection and analysis stage (what is) to the idea  generation (what if) stage. The goal was to translate the large number of data and insights collected into  product features that we could roll out in our initial product. Mind-mapping struck me as a method that  could help the team synthesize all the learnings about the customer, the markets and the competition,  and crystallize them into product ideas that could wow the customer, fit the markets where its launched  and blow the competition out of the water.

Application:

I organized a “yard sale” by inviting key stakeholders (i.e. approximately 10 decision-makers) from  various relevant departments, e.g. business, product, tech, marketing, branding, risk and operations. A  large training room was booked for this purpose with whiteboards and flipcharts used as canvasses to  stick post-it notes to. Each post-it note contained a data point, finding or insight from our  comprehensive market research, competitor analysis, quantitative survey and focus group discussions. I  started the session by bringing all stakeholder on a “tour” of the room, explaining how the research was  conducted and how each insight was arrived at. Each person was then provided a notebook and asked  to browse the room individually and to take note of any data points or learnings that stood out which  should be used to inform the design of the product we planned to launch. An example of some the  learnings from focus group discussions was that millennials in our target market were not familiar with  credit cards and not as skeptical of personal debt compared to what our competitors had learned in the  developed markets they operated in. The next step was to break into groups and for each group to  discuss and come up with what they felt were the most important insights. They were asked to group  the learnings into meaningful clusters that could be used to inform our design criteria for the product.

Insight:

From this mind-mapping exercise, the key stakeholders were able to actively discuss and align on what  would be the key design criteria to shape this new product. An example of design criteria that was  agreed on was Cash Flow Management. The learnings from market research had informed us that the  ability to manage cash flows between sporadic or irregular pay days was an important aspect for many

existing customers in the developing markets that we served. Coupled with the lack of savings and  insurance to cope with emergencies or urgent purchases, we decided that this financial product needed  to help our customers with this specific pain point and the value proposition needed to be clear from a  product design, branding, marketing and communications point of view. This session turned out to be a  very productive event which led to tangible, actionable next steps and also served as an excellent  platform to align all key stakeholders and empower everyone to be part of the ideation process.

Approach:

What I would do differently would be to synthesize the learnings in the yard sale in a more visually  appealing manner. Instead of long sentences or numbers, the use of charts or infographics may have  been more intuitive for attendees to understand quickly. Also, presenting the learnings in a more visual  manner may be more effective at helping everyone cluster the most essential insights quickly.


Challenge : I work at a transport technology company which operates in emerging markets . The company was looking to expand into financial services by tapping into the large number of existing customers who were mainly from the unbanked and underbanked segments . We had studied the competition ( who provided similar products in adjacent markets ) in order to shape our understanding of the type of financial services ( namely lending ) product that could be successful in the markets we operated in . On top of that we had hired an independent market research firm to run quantitative studies and focus group discussions to further understand how best to structure our product for each market . This had resulted in the collection of large amounts of data , both in the forms of anecdotal insights and quantitative analysis . Unfortunately the team had reached a stage of analysis paralysis and was not making significant progress in launching our first iteration of the product or MVP ( minimum viable product ) . Selection : The design thinking tool I selected for this scenario was the mind - mapping tool . I hoped that using mind- mapping would help in taking the team from the data collection and analysis stage ( what is ) to the idea generation ( what if ) stage . The goal was to translate the large number of data and insights collected into product features that we could roll out in our initial product . Mind - mapping struck me as a method that could help the team synthesize all the learnings about the customer , the markets and the competition , and crystallize them into product ideas that could wow the customer , fit the markets where its launched and blow the competition out of the water . Application : I organized a “ yard sale ” by inviting key stakeholders ( i.e. approximately 10 decision - makers ) from various relevant departments , e.g. business , product , tech , marketing , branding , risk and operations . A large training room was booked for this purpose with whiteboards and flipcharts used as canvasses to stick post - it notes to . Each post - it note contained a data point , finding or insight from our comprehensive market research , competitor analysis , quantitative survey and focus group discussions . I started the session by bringing all stakeholder on a “ tour ” of the room , explaining how the research was conducted and how each insight was arrived at . Each person was then provided a notebook and asked to browse the room individually and to take note of any data points or learnings that stood out which should be used to inform the design of the product we planned to launch . An example of some the learnings from focus group discussions was that millennials in our target market were not familiar with credit cards and not as skeptical of personal debt compared to what our competitors had learned in the developed markets they operated in . The next step was to break into groups and for each group to discuss and come up with what they felt were the most important insights . They were asked to group the learnings into meaningful clusters that could be used to inform our design criteria for the product . Insight : From this mind - mapping exercise , the key stakeholders were able to actively discuss and align on what would be the key design criteria to shape this new product . An example of design criteria that was agreed on was Cash Flow Management . The learnings from market research had informed us that the ability to manage cash flows between sporadic or irregular pay days was an important aspect for many existing customers in the developing markets that we served . Coupled with the lack of savings and insurance to cope with emergencies or urgent purchases , we decided that this financial product needed to help our customers with this specific pain point and the value proposition needed to be clear from a product design , branding , marketing and communications point of view . This session turned out to be a very productive event which led to tangible , actionable next steps and also served as an excellent platform to align all key stakeholders and empower everyone to be part of the ideation process . Approach : What I would do differently would be to synthesize the learnings in the yard sale in a more visually appealing manner . Instead of long sentences or numbers , the use of charts or infographics may have been more intuitive for attendees to understand quickly . Also , presenting the learnings in a more visual manner may be more effective at helping everyone cluster the most essential insights quickly .