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How to Productize a Service

How to Productize a Service

If you’re a CEO of a service-based business, you may be wondering how to take your company to the next level. One way to do this is by productizing your services. This means creating a tangible product that customers can purchase rather than offering your expertise or labor on an hourly or project basis. But how do you go about turning your services into products? Here’s a guide for the hands-off CEO who wants to explore this strategy.

Why Turn Services into Products?

First, it’s important to understand the benefits of productizing your services. By offering a product, you can potentially reach a wider audience and scale your business more easily. Customers are often more willing to buy a product than they are to commit to ongoing services, so productization can lead to more consistent revenue. 

Additionally, selling a product allows you to leverage your time and expertise rather than trading them for money on an hourly basis.

How to Productize a Service…

To productize your services, start by identifying the core value that you offer to your customers. This might be your knowledge, expertise, or a specific process that you use to solve a problem for your clients. Once you’ve identified this value, think about how you can package it into a product. This might be in the form of a course, a guide, a toolkit, or some other type of resource.

Next, consider your target audience and what type of product would be most appealing to them. For example, if you’re a social media consultant, you might create a course teaching small business owners how to effectively use social media to grow their businesses. Or, if you’re a financial planner, you might create a financial planning toolkit that guides individuals through the process of creating a budget and saving for the future.

Once you’ve determined the form your product will take, it’s time to start creating it. This can be a significant undertaking, especially if you’re not used to creating products. To make the process easier, consider hiring a team to help you. This might include content creators, designers, and marketers. Alternatively, you can outsource some or all of the work to freelancers.

Pro Tip for Productizing a Service:

As you work on creating your product, be sure to conduct market research to ensure that there is demand for it. You don’t want to put in all the time and effort to create a product only to find out that no one is interested in buying it. To conduct market research, you can use tools like Google Trends, social media surveys, and customer interviews to gauge interest in your product.

Sell Your Products!

Once your product is complete, it’s time to start selling it. This will likely involve building a website or online platform to host your product, creating marketing materials, and establishing a pricing strategy. You’ll also need to decide how you’ll deliver your product to customers. Will it be a physical product that you ship, or will it be a digital product that customers can download?

Finally, as you begin selling your product, it’s important to continually gather feedback from customers and make improvements as needed. This will help you ensure that your product is meeting the needs of your target audience and evolving to stay current and relevant.

Contact Hands-Off CEO for Help Turning Services into Products

Turning your services into products can be a rewarding and lucrative way to grow your business. By following these steps and working with a team of experts, you can successfully productize your services and reach a wider audience. If you’re interested in learning more about how to turn your services into products, contact Hands-Off CEO for a free consultation. We’ll be happy to help you take your business to the next level.

How to Productize a Service