Value proposition testing for a new service targeting a new market

VENTURE DESIGN

The challenge

Medicare Health, a technology focused pharmacy brand, was looking to find new opportunities and solutions that would simplify and improve their customer experience. Whilst they had a high level idea of what they wanted to offer and who they wanted to target, they had no way of knowing whether their chosen target market would make use of their proposed offering.

They asked Experio to assist them in finding their product market fit through our Venture Design process, which focuses on testing assumptions with real people.

Conscious of spending money on an untried solution, Medicare Health were keen to work through a lean testing approach.

The solution

After understanding Medicare Health’s target audience, we ran a series of evaluative experiments to measure their interest in our newly defined value propositions.

Each experiment is designed to test and validate the riskiest assumptions inherent in the value proposition, rapidly reducing the risk of investing in the wrong solution.

Generative Qualitative Interviews

We conducted generative customer research through a series of one-on-one interviews, honing in on the customer segment with the most unmet needs.

Ideation and Value Proposition Canvas

Leveraging insights gained from these interviews and tools such as the Value Proposition Canvas, we workshopped a series of value propositions that we felt would meet our newly refined audiences needs.

Lean Experimentation

We then took these value propositions through a series of lean, evaluative experiments, including surveys and fake door tests, to understand which value proposition potential customers would feel most committed to, if at all.