How to Turn Your Marketing Consulting Services Into a Product
In my years of being a marketing consultant (nearly three decades, where has the time gone?), I can list a handful of things I know for certain, and one of those is that effective packaging of your particular form of service is the path to far greater profits.
I’ve taken this concept of productizing and packaging and use it for my own business and now offer packages to clients that they can choose from. They include:
Putting these packages together was one of the best business decisions I’ve made, and I want to show you how you can turn services into products successfully for your business as well.
Tips to turn your services into products
Focus on a few services
As a consultant, it may be easy to want to say “yes” to everything but don’t. You don’t want to be a jack-of-all-trades, master of none. Select a handful of services that you want to be the go-to expert on, and turn those into products.
Name your services and create a brand around them
As silly as this may sound, giving a name to your products will make something that is intangible, seem tangible.
The name of my company was not always Duct Tape Marketing, but I chose that name as the foundation for my “packaged” approach to installing a small business marketing system. My brand then inherited some of the more positive associations that people already had developed around all things duct tape.
Make your point of view and methodology shine
Your point of view (POV) runs through every element of your business. When you create a product you also start to build a common language that your community can begin to understand, share and extend.
Your POV tells the story that helps to attracts prospects, but your methodology is what separates you from your competition.
Set your price
This is perhaps the most important part of turning consulting services into packages. When you sell a package you are selling a result-based on the accumulation of previous results. In other words, it no longer matters how long it takes you to finish a deliverable. The only thing that matters is the value you provide.
With a package, you can set yourself up to say:
“Here’s what I’m going to do, here’s what you’re going to do, here are the results we can expect and, by the way, here’s what it costs.”
I’m not going to lie, it’s pretty refreshing to approach your business with that in mind.
Don’t customize packages
Offer a set deliverable, with set outcomes at a set price. It can be so easy to cater to requests to ensure you win business, but be strong and stick to the products you offer. Changing them for unique needs defeats the purpose of creating a product and will put more work on your plate.
Develop systems and processes
This allows you to communicate and deliver results in a consistent and predictable manner. When you can guide a client logically through a path of success, your business will become more profitable.
As part of these systems and processes, you must include methods for delegation and even outsourcing. This is essential for scaling and freeing up your time so that you can focus on perfecting your products and optimizing the necessary areas to help your business grow.
Benefits of turning services into products
When you think about it, selling services is a little like selling air, but if you make your services more product-like, they become more tangible to your clients, making them more likely to buy because what they’re buying is more concrete, as opposed to merely an idea. Funny how our minds work.
Aside from making money, this is perhaps the next most important thing for marketing consultants (and all business owners for that matter). Selling a product, as opposed to a service, removes a lot of ambiguity, and in turn, back and forth on clarification emails on what the client will get. Since you’ll have a set price and deliverables, it will also save you time on negotiations and creating custom packages, because you won’t be doing any of that.
As mentioned in the “Tips” section of this post, selling a product allows you to rise above the hourly wage (phew!). When you sell a product, you’re selling the value of it and not the time it takes to get it done.
As a side note, when it comes to your business accounting, selling set packages with set prices can make your’s or your accountant’s lives a whole lot easier!
Easy to explain to prospects
Since you’ll have set deliverables, you can literally show your clients and prospects what will be delivered to them during a given time period. This leaves very little room for misinterpretation of the promised scope.
Lastly, I’d be remiss if I didn’t remind you to market your own products. It’s often so easy to focus your time on your current clients and leads that you forget to promote yourself. These products won’t do you any good if nobody knows about them. You must develop a strategy that gets these products in front of your ideal clients.
Have you started turning your systems into packages? What have you found successful? What have you found challenging?
If you liked this post, check out our Guide to Building a Small Business Marketing Consulting Practice.