We prototyped a new business venture for a financial services client
The project has three distinct phases:
- Surveying the current client business, users, tech and data capacities.
- Interrogating and contrasting the aspirations for a new service, with the data and capabilities the business currently has.
- Auditing internal capacity and the brand, to expose untapped equity.
- Sector research to identify where best the client can compete.
- ‘Shopper’ interviews with senior buyers across target sectors
This points the way forward, identifying where the business needs to gather new data or use AI to enrich its current data set. And it dispenses with some expensive assumptions early on.
A prototyping approach departs from standard consultancy models, in that we make projects and concepts tangible - in the form of products and services - and then validate, test, refine, or replace these as we go. Standard financial specification instruments and consulting tools - a go-to market plan including sector sizing, designing sales pipelines, revenue modelling and projection - also form part of this phase, but when combined with design-thinking validation and visualisation techniques, provide faster, more valuable and resonant results.
Using a ‘launch and learn’ attitude means the modular structure of engagements can rapidly iterate in-project. We’re sampling different sectors to launch the client’s prototype engagements into, and learning from early engagements in the pipeline. As this begins to form a coherent, validated set of plans, we can then build capacity with human resources and leadership with the client business, to prepare for and implement launch.
Our clients are all grappling with data, in some shape or form, and designing it is the tip of the iceberg: the real value is in helping them make sense of how central and powerful their use of data can be for their businesses and the future of their businesses. But data can’t just be theorised, or speculated about - these opportunities and new models can only take shape through a hands-on, informed approach that allows organisations to see what they have, and might have, to learn, and to adapt.