Introducing a premium model to lift AOV by n% 

To compete with large-scale online hearing aid sites who began offering lower pricing, we reduced the cost of our existing hearing aid models. As a smaller stage organization, we were not able to take advantage of lower COGS that high-order- volume competitors enjoyed. To offset the negative impact to AOV from this lower model pricing, we responded by introducing the Lively Pro, a more recently- manufactured model with differentiating features and lower COGS. We set a goal to price the Pro as our most expensive model and to surge order model share to it.

Participants

There were four separate rounds of interviews, with participants from four major financial institutions.

One group of participants were structured with two colleagues answering the questions at once.

These participants either volunteered, submitting their name to a form following an ACAMS webinar, or were asked to participate.

Findings

The interviews provided additional information as to the ‘personas’ (goals and needs) of the potential users of the site and information on specific features that might be more or less helpful in aiding the participants in reaching their goals.

All participants were passionate about aiding in the fight against human trafficking, an issue related to if not central to their primary work. Half of the participants were already involved deeply in the issue and half were not. The primary ‘personas’ stemmed from this division.

User Stories

“The Involved Advocate”

As an experienced HT Investigator, I will like to contribute with my expertise on HT and typologies so I can spread awareness of the work of nonprofits, inside and outside of my organization .

“The Passionate Newcomer”

As a Financial Institution Investigator, I need an easy entry into HT information so I can stay up-to-date and do all that I can do on this topic.

Key findings

Community-driven.

What’s out there & what is new.

Single go-to source.

Interview framework

The interview had three parts. The initial warm-up section asked about the participant's role, tenure in the space and how or whether they engaged with data.

The second section sought to uncover the interviewee’s previous knowledge of and participation in the anti-human trafficking space, including whether they engaged with particular non-profits.

The third section focused on the interviewee's workflow and the basic elements and formats expected around typologies. Each interview ended with a final open-ended question to capture any other thoughts on the topic that may have been missed.

Personas

“Involved Advocate”

The “Involved Advocate” has already collaborated with other financial institutions and non-profits on the issue of human trafficking. They are seen as an expert on the topic within their organization. They have participated in roundtables and want to spread awareness of the work of nonprofits both within and outside of their organization.

The “Involved Advocate” will be difficult to provide value to through STAT, as they are will be familiar with all the typology reports forming the basis of the platform. Yet, it is critical to engage these users, as they will be the ones generating value through contributing new typologies to the platform while informing others of it’s existence.

“Passionate Newcomer”

The “Passionate Newcomer” had never thought much about human trafficking until becoming impassioned after learning about the scale of the problem and the role of financial institutions, such as their employers.

The “Passionate Newcomer” is unfamiliar with the nonprofits operating in this field. They likely heard about the scale of human trafficking by chance without preemptively searching for resources on the issue. They would like to help but are not sure how or where to start.