History and vision: Created in June 2012 and formally incorporated as La Fayette Microfinance Bank Ltd, Advans Nigeria is the seventh greenfield of the Advans Network. Advans Nigeria’s objective is to target MSMEs in urban areas of Nigeria, where market studies have shown that only one in ten entrepreneurs has access to credit. Network: Advans Nigeria opened its first branch in Ibadan, the country’s third largest city, at the end of January 2013. A second branch opened in May 2013 and two further branches in early 2014. In the coming years, Advans Nigeria plans to continue its expansion to cover other regions of Oyo State, home to about 5.5 million inhabitants. Services: As a registered microfinance bank, Advans Nigeria offers a full spectrum of financial services for MSMEs, including loans ranging from NGN 30,000 (about EUR 140) to NGN 20,000,000 (about EUR 93,600). The MFB also offers current and savings accounts for both individuals and MSMEs.
Responsibilities
Product Development:
- Lead the development of new products from ideation through market launch.
- Collaborate with engineering, design, and marketing teams to define product specifications and requirements.
- Establish product development roadmaps and timelines.
- Ensure products meet quality standards and alignment with company strategic goals.
- Identify opportunities for product enhancements and innovations.
Product Management:
- Own the product lifecycle management process.
- Create and maintain product documentation including PRDs (Product Requirement Documents).
- Coordinate cross-functional teams to ensure alignment on product direction.
- Establish pricing strategies in collaboration with sales and finance teams.
- Manage product budgets and resource allocation.
Product Performance Management / Evaluation:
- Establish KPIs and metrics to evaluate product performance.
- Analyze product performance data to identify trends and opportunities.
- Conduct regular product reviews to assess market fit and competitive positioning.
- Identify underperforming products and develop improvement strategies.
- Report on product performance to senior management.
Project Management:
- Lead product-related projects from initiation to completion.
- Create and maintain project plans, timelines, and resource requirements.
- Coordinate with stakeholders to ensure project deliverables meet objectives.
- Identify and mitigate project risks and issues.
- Ensure projects are delivered on time, within scope, and within budget.
Customer Need Analysis:
- Conduct market research to identify customer needs and pain points.
- Use both qualitative and quantitative research methods to understand customer requirements.
- Organize and analyze customer feedback for product improvements.
- Create user personas and journey maps to guide product development.
- Translate customer insights into actionable product features.
Competitor Knowledge and Evaluation:
- Monitor competitor activities, product offerings, and market strategies.
- Conduct regular competitive analysis to identify market gaps and opportunities.
- Benchmark company products against competitors.
- Stay informed about industry trends and emerging technologies.
- Develop strategies to maintain competitive advantage.
Customer Profiling:
- Develop comprehensive customer profiles for target market segments.
- Identify key customer segments for product positioning.
- Create and maintain buyer personas to inform product decisions.
- Analyze customer behavior patterns and preferences.
- Collaborate with marketing to ensure messaging reaches the right audience.
Reporting:
- Create regular reports on product performance, market conditions, and competitive landscape.
- Develop executive summaries and presentations for leadership.
- Track and report on key metrics related to product success.
- Generate insights from data to inform strategic decisions.
- Communicate product status and progress to stakeholders.
Product Sales Optimization:
- Work with sales teams to develop effective selling strategies.
- Create sales enablement materials and product training.
- Identify opportunities to increase product adoption and usage.
- Analyze sales data to optimize product positioning and pricing.
- Collaborate with marketing on campaigns to drive product sales.
Requirements
- Candidates should possess relevant qualifications with experience.
Method of Application
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