Case Study – Product Launch
Situation – At the start of the dot.com boom, a large multi-national public service firm perceived an opportunity to provide value-added services to their existing, as well as new, customers who were worried about the security of their Internet transactions. By providing new service offerings, (Public Key Encryption and Certificate Authorities) the firm’s could realize added revenue from new offerings, and the customers would engage in secure transactions.
Only a few of the firm’s staff were familiar with the new technologies, and the concept was new to their customers.
Solution – As part of the leadership of a newly constructed Boston-based group we managed an international team to develop the new services to fulfill the market need. This included hiring qualified personnel, product definition, classical Marketing (Product, Place, Promotion, Price), training, Internal and End User sales and implementation.
Benefit – The firm was perceived as one of the leaders in securing the Internet space, offering a series of products/services that allowed for secure Internet transactions. This resulted in new customers to the firm and ancillary sales opportunities. Revenue of the new services went from zero to a $2,5M run-rate in less than 2 years
However, the “dot-com” bubble burst, and the need for these services was not fully recognized… it still exists today.