Service businesses typically aim to provide support to customers in a direct and custom approach for example in a consulting business, a client has a need , you are brought in to evaluate that need, you ask all the relevant questions and make recommendations to address the issues. You repeat this same process for subsequent clients, tweaking a few things depending on the unique needs of the client, but essentially it is the same solution you are providing to multiple clients.
There is a limited amount of time that you have, and are therefore limited in the number of clients that you can service.
What if there was a way to package the solution and an unlimited amount of clients can access the same solution as and when they need it? Well, that is the premise of productizing services.
Examples of services that can be productized
- A lawyer can create templates of commonly requested/ standard contracts, and sell the templates instead of spending time with each client to end up with the same template
- A professor can record several course modules and make the recordings available to students or faculty
- An accountant can create a software to help clients file their own taxes, incorporating all the optimization that he would have provided in person
- A HR professional can create onboarding templates and contracts for new hires’ or employee handbook templates that organizations can customize
- A social media influencer can document all the tips and trick for getting sponsorships, posting consistently, or how to work with brands. They can also create a media package for pitching ideas and personal brand.
- A developer can film themselves in action and make the recording available
- A contractor can document step by step guide to renovating a house, and package that into a course
- A story teller can document short stories into blog posts, journals, books or booklets
- A hair salon puts together a “wash day kit” for DIYers or new years eve updo kit
- A Restaurant puts together ingredients for a custom at home meal prep
Ways to determine what can become a product
- Niche market: determine a common need across a large client group. Ask yourself, what is it that most of my clients need?
- Determine what element of the need is most valuable to your client, easily teachable to your staff, and that clients are likely to purchase repeatedly.
- What is the outcome the client is looking for?
- Brand it, make it easy to understand and remember
- Show what’s included in the product
- Preempt objections, and address it
- Publish a price
- Make it easy for people to buy
- Manufacture scarcity: limited seats, limited time offer, planned price increase, etc.