Productized services help you ditch the client chase. You start attracting clients that will help you grow revenues together while you productize the services that help your clients the most.
The way to service productization is through standardization. Add automation to the standardized qualities, features, and parameters, and you get to optimize and scale a productized business in the direction that brings you freedom and independence.
You may have heard about productized consulting business or a productized marketing business. But these are just two common examples. Every service industry can be productized.
Every productized service starts by having a great idea. But just having excellent productized service ideas is not enough. You have to know how to productize your service (your expertise and skills) in a way that provides maximum value to your clients. This is how you build a productized service business that runs and grows by itself. That is the whole idea behind service productization: make things easier for you and maintain the upward growth curve.
So, we come to ask the method-oriented question:
How to Productize Your Service?
Turning great productized service ideas into practical steps and using the right tools to implement them is not easy.
But these five questions can help you create a framework to actually do the work and break the routine that keeps you stuck:
- What problems is my target audience trying to solve?
- What is the goal of my dream client?
- How do transform their problem into a solution?
- How do I know if this solution really works?
- Can I keep solving problems for my clients?
Now, let’s make finding out the answers to these questions more simple.
What problems is my target audience trying to solve?
Ask current clients or do online research to connect your skills to new client potential, that you are best equipped to help. You can solve the lack of expertise by hiring talented team members who can add the skills you need.
What is the goal of my dream client?
A solution to a problem is always linked to a goal your client wants to achieve. Your client may say that they want a new accountant. But what they want is enough time to spend traveling instead of double-checking quarterly financial reports.
How do transform their problem into a solution?
Specified, explicitly-defined parameters will turn your expert service into a solution. If you don’t know how to solve a client’s problem, you have two options: either say goodbye to that client and look for a new one or delegate the specified task to a team member. The added service quality will help you be a step ahead of competitors. Also, you price your productized service business adequately for the value you provide.
How do I know if this solution really works?
Testing eliminates all assumptions. To see if your solution works, all you need to do is find at least three clients who are happy with what you have to offer. Productize your service by adding clear quantifiable features to the service package and see if you get positive value from your initial clients. The initial offer needs to be risk-free for both you and your client, which means it needs to pay for itself and provide fast, immediately applicable action steps for your client.
How can I keep solving problems for my clients?
Problems don’t get solved forever. When you thought you’ve handled one, a new one crops up. Furthermore, as an industry expert, you can make forecasts and foresee solutions before they are needed. By tracking results from the implemented initial solution, you see where you can improve to delight your client, as well as grow your productized service business.
Does your productized service idea hold any weight? Let’s check: