What are productized services? Productized services allow companies to offer existing services but in standardized packages. By compiling your services into a range of packages, you can focus on the main objectives of your business, and the customers know exactly what service they are receiving.
It's hard for consultancy agencies and businesses to build a lucrative customer base that doesn't involve massive overheads and rapid expansion. Small businesses utilize productized services to streamline their business and offer a basic set of services instead of deciding on the services needed on a client-by-client basis. Using productized services can have a multitude of benefits for both businesses and clients.
Increase in Sales
Standardizing the service your business offers also standardizes the potential sales; instead of having a range of different services, which can be time-consuming and not very profitable. By selecting the best services that balance time with income, it gives your business the best chance of optimizing profits.
Productized services can also be easier to monitor trends and sales so businesses can predict profits. It can be used to determine how well each service performs and make changes if needed.
One of the benefits of streamlining your business with productized sales is reducing the amount of communication needed between you and your customers. Customers already know what services you offer, which removes the need for introductory calls and negotiation of services. As sales increase, customer care, which can take up quite a lot of new business time, can be reduced to a small number of prioritized meetings and follow-up emails.
By collecting data on your new processes, customers and sales, owners can understand how well the business operates. This data can be valuable information to help streamline and market new services until the company is operating at total capacity and with happy, loyal customers.
For new businesses, productized services will help to increase productivity significantly. Offering a limited amount of services will provide a calmer and more predictable working environment. Your team will not have such a varied and chaotic way of working. Also, proposing a limited list of services to clients will streamline the profit margins and recurring revenue.
It will make collaborating on projects between employees easier and quicker as there is less variability between clients. Employees can build expertise and knowledge as they have less variability in their roles and responsibilities.
Expanding Your Business
Using productized services makes it easier to scale your business as there is only a certain amount of services and products your business offers. Using business analytics, where the business could or needs to expand should be clear. It gives companies a chance to grow when they are ready instead of prematurely and should balance overheads with profits better long term.
Creating a Loyal Customer Base
While productized services are excellent for the productive running of a business, clients also reap the benefits. They receive well-organized, complete packages that your employees are experts in. These packages come with a standardized cost that the client's company can justify, and a loyal relationship can then be formed.
To optimize your business with a productized marketing agency, a software package like Clinked can help you reach your goals more quickly. You can create your customer portal in a matter of minutes, not weeks. It streamlines your processes using an internal messaging service, organizing your clients into independent spaces, and creating a secure area for your employees to work without any security risks.
Examples of Productized Services
Productized services can be used in various business sectors, including web design, content creation, graphic design, software, and consulting, and, can even extend to modern tools like a virtual business card for efficient networking. But almost any service company can benefit from using this business module. The key to this way of working is to target specific needs for a particular client base and sell the same service to multiple clients without any extra work.
For example, a personal trainer can help more clients through online courses rather than one-to-one. While they may charge less for the online courses, they would have more clients, which should make up the profits. Productized services can come in many forms, such as recurring subscriptions, services delivered at regular intervals, and a one-off service or product.
Using productizing services, businesses can run more predictable, stable companies. This business model is perfect for new businesses or businesses struggling to keep clients or complete their workload. Also, companies struggling to find their niche would benefit from productizing services.
With productized services, resources and time are used towards completing similar projects where employees are experts. Clinked’s features make for an optimized business, excellent service, and increased profits. Standardizing your processes can be quick using Clinked.
While it can help move your business to productized services, it can also help beyond that. It can help streamline your processes and monitor your business through analytics. If you are interested in starting your journey to a more productive and profitable business, see Clinked.com for more information.
Your business and clients will thank you!