Are you productizing your services?
I just read a GREAT article in the Professional Services Journal entitled Selling Services Is not Smoke and Mirrors (no longer available online).
In this piece, Yvonne Bailey interviews Hank Stroll (sadly now deceased), CEO of InternetVIZ where they discuss the “I'll believe it when I see it” customer mindset and the challenge this places on those offering intangible services. Hank suggests positioning your services so prospects see them as products rather than ideas or concepts. Here are his seven steps to productizing your services:
- Define the business problem that your service solves.
- Determine where your services fit into the client's process.
- Map your language to what your client uses.
- Take a risk.
- Define your product before you go to the prospect.
- Define your services delivery process.
- Market your tangible service as a product.
I've printed this article and will refer to it often. I hope you find it as useful and interesting.