Business Problem Statement Examples
For an existing product or service
Template:
[Our service/product] was designed to achieve [these goals]. We have observed [in this way] that the product/service isn’t meeting these goals which is causing [this adverse effect/business issue] to our business.
How might we improve service/product so that our customers are more successful as determined by [these measurable changes in customer behavior]?
For example:
Our mobile banking app was designed to achieve seamless and user-friendly online banking experiences for our customers. We have observed through customer feedback and a 20% increase in support tickets that the app isn’t meeting these goals, which is causing a significant drop in customer satisfaction and an increase in customer churn to our business.
How might we improve the mobile banking app so that our customers are more successful as determined by a 30% reduction in support tickets, a 15% increase in app usage frequency, and a 10% improvement in customer satisfaction scores?
For a new product or service
Template:
The current state of the [domain] has focused primarily on [customer segments, pain points, etc.].
What existing products/services fail to address is [this gap].
Our product/service will address this gap by [vision/strategy].
Our initial focus will be [this segment].
We will know we are achieving our vision when we see [these measurable criteria/customer behaviors].
For example:
The current state of the personal wellness and mental health app domain has focused primarily on meditation and mindfulness practices targeting individuals already familiar with these techniques.
What existing products fail to address is the need for a comprehensive, all-in-one wellness solution that integrates physical health, mental well-being, and personalized habit-building for beginners who struggle to maintain consistent wellness routines.
Our new product, BalanceWell, will address this gap by offering a holistic approach that combines personalized fitness plans, mental health exercises, habit tracking and daily wellness recommendations, all within a single app.
Our initial focus will be for young professionals who are new to wellness practices and are looking for an easy, accessible way to start and maintain healthy habits.
We will know we are achieving our vision when we see a 30% increase in daily active users, a 25% improvement in user-reported well-being scores after three months, and a 20% reduction in churn rate compared to industry averages.
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