Selling technology services isn’t any picnic. Really, selling ANY services are tough. Though, in my opinion, technology services would be the toughest. In the end, they are complex, confusing and usually hard to give clients. And like several intangibles, services don’t really exist whatsoever. A minimum of away from the literal sense, just like a “factor.” Rather, services exist exclusively within the imaginations – and written contracts – of the creators.
Ahhh, but products…
Products however, have substance and form. They may be seen, touched, and held. With products, little remains towards the imagination. Due to this products far simpler and fewer dangerous than services to provide, sell and purchase.
Services versus. Product Paradox
For a lot of technology companies services deliver greater profits than products. But they are difficult to sell. Products are simple to sell … but they are less lucrative. Exactly what a dilemma.
What if …
Let’s say it were in some way easy to transform something right into a product? Then you’d have the very best of all possible worlds. You’d have something highly lucrative And simple to market! Well, actually, you’ll be able to productize any service. And I’ll demonstrate just how to get it done. Essentially we’ll transform our intangible service into something tangible, real, and simple for clients to purchase.
One everyday illustration of a productized service
We are all acquainted with insurance. A existence insurance plan, for instance, is really a service product. The agent delivers your policy documents within an elaborate presentation situation using the policyholder’s name inscribed around the cover. The general presentation reinforces the purchase and adds genuine value and confidence within the mind from the buyer. Generally, the greater tangible you are making something offering (the greater product-like), the simpler it’s for salespeople to market and people to buy. Clients need to know precisely what they’ll receive once they purchase your service. Plus they have to recognize the need for the service deliverables for their business. Until you have shown both of these things the consumer will not invest in buying your merchandise.
3 Steps to productize any service
Turning any service into a simple-to-sell product really comes lower to those three steps.
Step One: Figure out what problem your merchandise REALLY solves. Be very specific here. Make certain you are solving an issue that the clients mind about. This is a real benefit statement of how to assist the client. Think how your family will enjoy their existence simpler, save/earn money or improve business operations, etc. Which is virtually no time to fool yourself with “faux benefits” that are not really benefits whatsoever. Your listing of benefits should embody the best value the customer can aspire to receive by purchasing and taking advantage of your merchandise. Now’s even the time for you to consider why is your merchandise unique. Quite simply, so how exactly does your merchandiseOritem solve the client’s problem much better than any competitive one? A Distinctive Selling Proposition (USP) could be proprietary delivery methods or methodologies, proprietary software or tools or experienced personnel.
Step Two: What’s going to the clients receive from your merchandise? Do you know the specific and tangible deliverables?
Every service includes a deliverable, right? When packaging something right into a product the deliverable should ideally be tangible. The greater tangible you are making the service and also the deliverables the simpler it will likely be to market. Types of tangible service deliverables include: printed findings reports, documentation, Audios and video, websites, analyses and suggestions. The aim is so that you can leave something behind as evidence that something ended which the customer received value. In my opinion printed reports are fantastic “service delivery artifacts.” Here’s why. Individuals will frequently leave them on their own desk for any lengthy time. In order a side-help you also finish track of a marketing billboard for the service.
Step Three: Create marketing, sales and training materials.
This stuff serve two purposes. They provide additional substance for your service product, which makes it “feel” tangible. A part of this stuff ought to be prices guidelines for that primary product in addition to any add-ons. Your materials will also be tools for the sales pressure to provide the merchandise and eventually close business. Effective ads are brochures, Service Product Descriptions, websites and examples of any physical deliverables.
One Hidden Advantage of Productizing Services
Do this have you ever considered whether a brand new service is going to be effective. Prototype the brand new service in writing first. Here’s what i’m saying. Feel the process we simply discussed above using the service your contemplating. In each and every step PRETEND the merchandise is real and currently available. In the finish from the process you will have materials to check the viability from the service. Just produce a junk mail letter to existing customers and prospects announcing a brand new service to be shown soon. Feedback in the mailings will help determine whether the service is sensible to proceed with. This method is clearly less dangerous than going for a “construct it and they’ll come” approach. Agreed?
Turning your technology (or other) service into a simple to market product takes only 3 steps. Which process also works as a risk-free testing group for services you think about to provide too.