Daniel Onojah

LAUNCHING A SUCCESSFUL PRODUCT INTRODUCTION In today’s corporate space, there has been lots initiatives that have turn into new products/services aimed at improving processes in various departments and units. However, these products do not get fully utilized by its intended users because they are not properly launched. Even though a product launch is the final phase of a product life cycle, it is the most important of the product/service process towards getting new business and retention of customers. However, a bulk of our products do not get required launch and possible promotion. Some recent product like the Instant RSA registration, benefits application online and SharePoint were not launched ,this in turn limits the utilization of the products OBJECTIVES: The objective of this paper is to create a guided platform for launching new products and services to aid implementation and improvement of business process JUSTIFICATION ❑ Though a product launch is the most important and final phase of a product journey, some of our new products and services are not adequately launched in a way where information and use of the new products/services are not properly disseminated in a timely and effective manner. The most recent is the Instant RSA Portal, despite all its potentials has not been fully utilized by customers and staff alike. ❑ Recent products such as the Instant RSA Registration portal, USSD, Benefits Online application and SharePoint. Were not launched and in turn not fully utilized by customers and staff PROPOSED PRODUCT LAUNCH CYCLE Testing the product before the launch Training on how to use the product Launching the product Establishing launching metrics Post launch Evaluation METHODS SHAKEHOLDERS PROTOTYPE/TRAINING RECONFIGURE PRELAUNCH SHARE • Engage relevant Stakeholder • Make a prototype,test and train staff • Reconfigure the product when Necessary • Prelaunch the product • Network and share the product INFORMATION TECHNOLOGY ❑ Provide training on how to use a product/service with DEMO videos where necessary ❑ Send text messages with links about the product to all customers ❑ Display slides of features of the new product on Trustfund’s website ❑ Ensure product handshakes with other service platforms COST IT 2022 Budget CORPORATE COMMUNICATION ❑ Ensure new product is part of Trustfund’s newsletter ❑ Advertise product on radio and print media ❑ Design and display roll up banners about new the product. ❑ Advertise new product on popular and trendy newspaper Outlets ❑ Advertise new products on popular Radio and TV stations Average Cost of a Half page Newspaper Ad 394,227.42 Average Cost of a Quarter page Newspaper Ad 224,879.358 DIGITAL MARKETING Internal Customers ❑ Display fliers and how-to-use instruction on staff desktop ❑ ❑ ❑ ❑ External Customers Paid promoted Ads on new products on social media channels and websites Post and promote instructional Demo videos on how to effectively use the product Display fliers and how-to-use instruction about new products on all social media platforms create trendy Hashtags about the new products on twitter and LinkedIn CSSD/BDM ❑ display roll up banners on key service products on all our branch offices/service locations ❑Webinars with demo videos to POC/PDOs and customers ❑Send all customers with updated emails the new service product ❑Include demo videos in slide presentations to customers. ALL STAFF ❑Test and review all functionalities of new product and services ❑Criticize where necessary and recommend Add-ons RECOMMENDATION(s) ❖Digital Marketing and Corporate Affairs units should carry out promotional content for every product launched to both staff and customers within a define period of at least three (3) Months. ❖Staff should be trained on product/service before products are launched by relevant units