What makes a product launch successful? The MyMo case study
The client, Standard Bank. The product, the brand-new MyMo account. And the launch, a seamless coming together of high-tech banking and a youthful, convenient and digitally savvy solution. What made it so successful?
Connecting product and people
Standard Bank’s MyMo account is all about instant banking. You don’t need any documents to open one, nor do you need to go into a bank. The whole thing has been designed to be easy and instant. You even get free data just for transacting. This means that, when Worx Group was tasked with launching this product to executives and the media, the event had to incorporate all of these innovative elements.
“We realised that we had to take our guests on a journey about how banking is changing,” explains Kim Winstanley, Worx Group’s Chief Growth Officer. “We had to allow them not only to see, but also to experience, the fast-paced, competitive, ever-changing and flexible nature of technology. Our approach to the event, in other words, had to match the product offering perfectly.”
Working smart, being sharp
The MyMo product launch was pulled off in very little time and had many moving parts, which means that the Worx Group team had to rely heavily on each other and their partners and suppliers. “Experience and a deep knowledge of the events industry is a must when planning an event of this size on relatively short notice,” says Kim. “You simply don’t have time to second guess or perfect your craft.” Instead, you need to be able to trust your split-second decisions, think creatively and improvise.
But this doesn’t mean that you can cut corners – you still have to ensure that every aspect of your event is carefully considered, and that nothing gets forgotten or overlooked. Prepare detailed scripts, complete dry run after dry run and don’t deviate from the plan. All of your instructions should also run through a designed “show caller” who has firm understanding of every single detail, from the schedule down to the individual tech prompts.
Prioritising preparation, nurturing knowledge
So what are the most important things to consider when launching a new product? Simple, says Kim: “Make sure that your product is 100% ready to go, and that your internal and external teams, including your event management crew, know everything they need to know about the offering. That way, marketing and championing your new product becomes an effortless, happy and brilliantly successful endeavour.”