Productizing your services essentially means transforming a skill or service that you offer into a well-defined product. For example, instead of offering web design as an intangible service, you could package it into an e-commerce website development kit.
That way, customers clearly know what they are getting and at what price. It also allows for easier scaling because the process is standardized.
When done right, productizing can be a highly profitable venture.
Examples of Services That Agencies Can Productize
Productizing services provides a great opportunity for agencies to showcase their services in a well-packaged, easy-to-understand format. Essentially, it is about turning your intangible expertise into measurable products that clients can buy.
Let us explore some examples of how different types of agencies could productize their services.
Marketing Consultations
A marketing agency could bundle its consultations into marketing strategy creation packages, which could include things like market research, competitor analysis, and action plans. Incidentally, if you operate an agency that focuses on marketing, you can save time and impress clients by using automated reporting for marketing agencies, such as the solution from Octoboard.
Branding Services
A marketing agency could also provide a branding package. This service could include logo design, color and font scheme creation, tagline development, and brand guide documentation.
Clients could choose between different tiers based on their needs, from basic to premium branding packages.
Social Media Management Packages
A digital marketing agency could offer social media management packages. Each package level could offer things like a specific number of posts per month, regular metric reports, and audience engagement management.
SEO Audits
An SEO agency might offer standardized SEO audit reports. These would provide detailed feedback on a client’s website performance with recommendations for improvement.
Blog Post Bundles
A content agency may opt to sell blog post bundles. They could be based on word counts or subject matter expertise levels.
Why You Need to Productize Your Agency’s Services
If you run an agency and have not yet considered productizing your services, it is time to give the strategy some thought. Here are some of the most important reasons why you need to consider productizing your agency’s services.
Standardization
By having defined products to offer clients, you bring standardization into the process, which allows for efficiency in execution. For example, providing a productized social media content calendar system or blogging package means that your team knows exactly what deliverables are expected of them for each client.
Easy Scaling
Productization makes scaling easier because it reduces the interdependencies that can slow down growth. Productized services can be delivered over and over again with minimal adjustment for each client.
Clarity in Pricing
With traditional hourly billing, clients can be wary of uncontrolled costs inflating their total bill by the end of a project. With productized offerings though, pricing is upfront – which provides transparency and confidence to potential customers about what they are paying for.
Enhanced Client Relationships
A clearly defined offering means less room for mismatched expectations between you and your clients, reducing instances of dissatisfaction and dispute while boosting client loyalty. It also reduces decision fatigue for clients because they know exactly what they can get from you.
Operational Simplification
Since responsibilities and deliverables are clearly set out in a productized service, managing resources and operations becomes simpler. That means you can save time on project planning, coordination, and management.
Predictable Revenue Stream
Productizing your services allows for better forecasting of cash flow since the cost of each package is predetermined. This helps maintain a more stable revenue stream, which is especially beneficial during uncertain times.
Improved Value Proposition
With productized services, you can provide tangible value to customers with a clear outline of what they are getting right off the bat, making it easier for them to see why they should engage your agency.
Reduces Time Spent on Proposals
Lastly, instead of individual project proposals for every client, you can have detailed descriptions of service packages that potential clients can choose from readily. Therefore, you can significantly reduce the time it takes to create proposals.
Conclusion
In conclusion, productizing your agency’s services can lead to greater efficiency, easier scalability, and clearer pricing. It can also enhance client relations, simplify operations, stabilize your revenue stream, and vastly improve your value proposition.
Moreover, it can reduce time-consuming proposal creation. So, productization can truly be a transformative strategy for any kind of service-based agency.
