Start-up customer value proposition research
Backpocket is a startup looking to disrupt the health insurance market with a focus on millennials. Nomat was engaged to explore the value proposition for their business and to research customer problems in the health cost space.
As a start-up they were seeking an efficient engagement and one that would support their staff to learn about facilitating research. As such we ran a lean research engagement which included hands on learning for the Backpocket team.
What we did…
After exploring the research objectives and questions to fully understand the needs. We facilitated depth interviews with people to explore their health needs, how they pay for health, role of and perceptions of health insurance and gathered feedback on the proposed Backpocket value proposition. Mock-up marketing materials were used to make the proposition more tangible for participants and to support gathering feedback. The founder of Backpocket took notes during the interviews and sat in on the sessions. After completing the interviews we undertook collaborative analysis and synthesis of the data.
We were able to validate that the health needs which Backpocket serves do, in fact, exist in the market. We gathered feedback on the aspects of the value proposition which resonate with millennials and provided recommendations on those which need refinement. Finally we were able to refine the target market for Backpocket.