Reflection – Learning Launch

Challenge

I’m in an innovation team of a financial institution. We have an initiative to do total integrated business  solution for SME, especially small online merchants. With the lack of knowledge and access to  enterprise-grade complete business operations tools, we want to create value by bringing and  integrating different tools and apps that are relevant to target segment, to help them manage and  grow their business efficiently, while we can get insight and understand the customers more. The  scope of the project includes everything from initiating the idea and formulating the business model,  negotiating with partners, to executing and developing the product with IT department.

Selection

This is a very new initiative and offering that has never been done before in the market, let alone  having been done in our organization. Hence nobody really knows how the customers will see the  benefit of our offering as well as potential adoption in the market.

We didn’t’ want to spend too much time on analysis and feasibility with no direct input from customer  and based on real empathy and insights from customers. So we tried the learning launch tool, which  will be the experiment meant to quickly test the idea at the beginning, as well as to be the tool used  for developing the product at each stage from prototyping, the first MVP, and ongoing improvements.

Application

The very first pre-launch activity was validating our assumptions and concepts with real customers,  using web screen mock-up to simulate and communicate about the features/functions and benefits  of using our integrated business solutions. We broke it down into smaller modules to be able to have  deeper discussion and gaining insights on how they would take this offer, how they will react and fit  this solution into their actual business operations, as well as any comments or concern they had.

We then decided on the scope of our MVP that will be an actual working web with the minimum set  of features/functions that provide some value and could be used for testing with actual customers in  real environment, with minimum effort on IT development.

The actual first learning launch was a website that provide a recommendation engine that helps guide  and suggests the set of apps/tools in different categories that are relevant and can improve customer’s  business operations. Once the customers select any of the apps/tools suggested, they can also activate  all the selected apps/tools with single registration.

Insight

By applying the learning launch tool, we identified our assumptions and the issues that could be  sensitive to customers and should be tested with real customers. What we learned from the very early  activity was that the concept is what customers need. However, even if the target group is getting  more digital savvy, but simplest way to communicate and engage with the customers is required to

be crafted carefully. They need to be educated and hand hold to the point where they can continue  by themselves.

All these insights have helped the team design and shape the products/solutions to be what customers  really need and use. This is a very key success factors.

Another important thing we learned was that data privacy as well as willingness to change and adopt  to new way of operating business is possible where sufficient benefits and value is perceived or readily  obtained.

Approach

Given the nature of our initiative, which has never been done before and hence no data or  understanding that can be leveraged to design the product/solution, as well as the fact that the scope  of our product/solution would involve learning about adoption and perception on the take up of new  type of different apps/tools, as well feeling about data sharing across different platforms. The learning  launch was the most appropriate tool to help us achieve the objective of the project. Many insights  were obtained and used for designing and improving the product/solution.


Reflection – Learning Launch Challenge I ’m in an innovation team of a financial institution . We have an initiative to do total integrated business solution for SME , especially small online merchants . With the lack of knowledge and access to enterprise - grade complete business operations tools , we want to create value by bringing and integrating different tools and apps that are relevant to target segment , to help them manage and grow their business efficiently , while we can get insight and understand the customers more . The scope of the project includes everything from initiating the idea and formulating the business model , negotiating with partners , to executing and developing the product with IT department . Selection This is a very new initiative and offering that has never been done before in the market , let alone having been done in our organization . Hence nobody really knows how the customers will see the benefit of our offering as well as potential adoption in the market . We did n’t ’ want to spend too much time on analysis and feasibility with no direct input from customer and based on real empathy and insights from customers . So we tried the learning launch tool , which will be the experiment meant to quickly test the idea at the beginning , as well as to be the tool used for developing the product at each stage from prototyping , the first MVP , and ongoing improvements . Application The very first pre - launch activity was validating our assumptions and concepts with real customers , using web screen mock - up to simulate and communicate about the features / functions and benefits of using our integrated business solutions . We broke it down into smaller modules to be able to have deeper discussion and gaining insights on how they would take this offer , how they will react and fit this solution into their actual business operations , as well as any comments or concern they had . We then decided on the scope of our MVP that will be an actual working web with the minimum set of features / functions that provide some value and could be used for testing with actual customers in real environment , with minimum effort on IT development . The actual first learning launch was a website that provide a recommendation engine that helps guide and suggests the set of apps / tools in different categories that are relevant and can improve customer ’s business operations . Once the customers select any of the apps / tools suggested , they can also activate all the selected apps / tools with single registration . Insight By applying the learning launch tool , we identified our assumptions and the issues that could be sensitive to customers and should be tested with real customers . What we learned from the very early activity was that the concept is what customers need . However , even if the target group is getting more digital savvy , but simplest way to communicate and engage with the customers is required to be crafted carefully . They need to be educated and hand hold to the point where they can continue by themselves . All these insights have helped the team design and shape the products / solutions to be what customers really need and use . This is a very key success factors . Another important thing we learned was that data privacy as well as willingness to change and adopt to new way of operating business is possible where sufficient benefits and value is perceived or readily obtained . Approach Given the nature of our initiative , which has never been done before and hence no data or understanding that can be leveraged to design the product / solution , as well as the fact that the scope of our product / solution would involve learning about adoption and perception on the take up of new type of different apps / tools , as well feeling about data sharing across different platforms . The learning launch was the most appropriate tool to help us achieve the objective of the project . Many insights were obtained and used for designing and improving the product / solution .