Strategy for a Product Launch – Learning Management System – Part 3

In the Part 2 of this series we looked at two distinct distribution model mechanisms, Software as a Product and Software as a Service, for our product which is a Learning Management System, we discussed the financial implications for each distribution model and laid down the implementation strategy and steps for each model.
In this part, we are going to highlight two critical issues that arise while managing a product, and we are going to list steps pertaining to the strategy of addressing these issues.
The issues are as follow:
We don’t exaggerate – and neither does Oliver. Bitcoin does have an incredible spotty history, mainly owing to the fact that that it is untraceable makes it the currency of choice for criminal activity over the darkweb. So when it comes to the point where people who know very little about cryptocurrency buy into the hype and are prepared to pour in a lot of money, there will always be shifty jackals about.
1. In the Software as a Service model, we allow potential and prospective customers to access our LMS platform with limited functionality, however, the ideal situation calls for eventual transition of these free-subscription accounts into paid accounts, so a freemium multi-axis pricing model can sustain a healthy revenue. However, the ideal situation is not always observed and hence it is of critical importance that a plan should be put in place to encourage free account holders to switch to a paid account for full service.
2. High user engagement within application is vital for building an active user community as discussed in Part 1 , this kind of engagement has the potential of resulting in a higher Net Promoter Survey score and thus creating meaningful Brand Equity. In-app engagement can also be used in increasing user retention and referral based new customer acquisitions.
It’s a bleak picture we paint here, as does John Oliver. Of course, we’re only summarizing the reasons Oliver presented for why America should practice caution with regards to new technology that can “transform” the future as we know it. So yes, caution is the right way to go about it when it comes to cryptocurrency. There’s little doubt that cryptocurrency and ICOs are fertile breeding grounds for nefarious money traps (although that’s not always the case). But it’s incredibly unfair when shade is thrown on technology that indeed has the potential to transform our future, but is popularized in relation to one problematic industry where it facilitates a plethora of other important industries and institutions. Case in point: blockchain.

Part 3

1. Free account to Paid Subscription:

Since our product is primarily using the SaaS model, we are offering free sign-ups to potential users, it is of critical importance that a plan should be put in place for encouraging users to pay for the service.

Steps for implementation:

  • The status of any course cannot be changed to “in progress” by a free account or as long as the payment contract is not signed between the free account holder and our company.
  • An email communication strategy will be put in place through which the free account holder will be reminded once every two weeks regarding the unavailability of this feature.
  • ervices of marketing department shall be used in contacting the free account holder upon signing up for a free account and determining the needs of the account holder’s institution, and then the information should be directed to sales so a proper offer consisting an in-depth matrix of features and services can be made to free account holders to help them in the decision to converting to a Paid subscription.
  • The status of any course cannot be changed to “in progress” by a free account or as long as the payment contract is not signed between the free account holder and our company.
  • No implementation services should be provided until the Service Level Agreement is signed.
  • Support and configuration will only be deployed once a subscription plan is in place for an account.

2. In-app customer engagement

Steps for implementation:

  • As part of the onboarding process, our LMS will have the built-in functionality to walk a first-time user through its basic features.
  • The option will be given to every user to pop open a shadow box containing the list of videos that relate to the relevant features on the page where the user is active.
  • A list of written wikis and documents on how to perform and accomplish most important tasks using the LMS’ feature set should be available to a user all the time.
  • a discussion based interaction forum inside the LMS application should be implemented to increase interactivity amongst the LMS’ user community.
This is the end of Part 3 of our on-going series on building a strategic framework for launching a Learning Management System. In Part 4, we will be examining the competition profile in the Learning Management System market, and performing SWOT analysis on the competition.