Turning Your Service Into a Product
A few weeks ago I wrote a post about developing a repeatable method for getting clients promised results, and in that post, I mentioned the importance of turning your services into products or packages. This idea is so important for marketing consultants that I thought I’d dedicate an entire post to it.
Turning your service into a product
You may have heard me say this before, but I believe selling services is a lot like selling air. Make your offerings more product-like so that your customers have something tangible to grab onto. If you don’t know how to turn your services into products, you’re not alone. The steps below will help you get started:
- Give your service a name
- Install your solution
- Offer a set deliverable, with set outcomes at a set price
- Sit back, relax, and watch how easy it becomes to sell
Developing a suite of tools and systems
It’s important that you surround your new product offerings with documented tools, systems, and processes, including processes for:
- Lead generation
- Lead conversion
- Service delivery
- Results reviews
This will allow you to communicate and deliver results in a consistent and predictable manner (helping you quickly rise above the competition). When you can guide a client logically through a path of success, your business will become more and more profitable as time goes on.
Advantages of turning your services into products
Explain your offerings to customers with ease
As I mentioned above, you really will be amazed at how easy it is to explain and sell your offerings once they are product-based. With a product, the customer can see exactly what will be delivered to them. This leaves very little room for ambiguity and allows you to avoid back and forth scope questions down the road.
Sell more efficiently
It is much easier to sell products at a set price than it is to customize services at prices that are always changing based on the client’s needs. Pricing is almost always subjective when it comes to custom plans which has the potential to get messy.
As you perfect your selling process with this new product-based approach, you’ll be able to sell more products and packages because you’ll become efficient with your new process. At this point, you can start quoting Cuba Gooding Jr.’s character in Jerry Maguire…”show me the money!”
Rise above the hourly wage
When you sell your time you are capped and compared to others, but when you sell a product or program, you are free to sell the value of the program without regard for the cost that goes into making it. The more effective you become at delivering the program, the more you’ll get paid based on value, not hours spent.
The importance of marketing
While turning your services into products is great and all, it doesn’t do you much good if people don’t hear about these products. It is imperative that you have an authentic marketing strategy that will put your products in front of the eyes of the right people. Once you have the strategy, you must commit to using it as the filter for every marketing decision that follows, including product/service mix, pricing, identity elements, customer service and hiring.
Putting a strategy in place to turn your services into products will take time and effort, but once complete, the rewards will start funnel in.
Have you started this process? What questions do you have?
If you liked this post, check out our Guide to Building a Small Business Marketing Consulting Practice.