Many organizations offer great services to their customers. Yet many of these organizations struggle with making their number. Longer sales cycles, and the customization required for most service offerings present challenges. Sales leaders try to overcome these by increasing leads and close rates, but often this is not enough.
One way for sales leaders to make their number is to productize their service. By productizing your service, your organization becomes efficient, predictable and scalable. In short, sales reps spend more time selling and less time building RFPs and custom proposals.
You might be thinking that productizing your service is a long process, but that doesn’t have to be true. If you can answer the below questions you are on your way to productizing your service. Let’s review these questions and how they can help.
Building Your Product Package
When first building your service into a product; basic is best. Far too often organizations try to include everything from their service into their product. This makes products too complex and hard to scale. Make it simple. Answer the below questions to build your simple and compelling product.
- What three things about your service offering makes companies choose you over competitors?
- What three things about your service offering makes customers repeat their purchase?
- What is the core functionality of your service that is included in 100% of sales?
- Can you consistently delivery question one through three?
Once you can successfully answer the above questions, you will know what to include in your first product. Do not fall into the trap of adding more than needed. Adding too many features will reduce your consistency and scalability.
Building Your Delivery Package (Implementation Plan)
A great product is half the battle. If you can’t consistently deliver your product, you’ll never make your number. You need to build an implementation package that matches your product. Answer the below questions to build a consistent and valuable implementation plan.
- What is required to deliver and implement the product you created above?
- What is the schedule and scope of delivering the product you created?
- What implementation plan is required to deliver the product you created?
- Can you consistently deliver the product you created using the same implementation plan?
Once you can successfully answer the above questions, you will know what is required to consistently implement your new product. A simple product with a simple implementation plan will allow you to scale quickly.
Scaling Your Product
To make sure you have built a product that is scalable. Ask yourself the below questions:
- Could all of your sales reps sell this product today?
- Could you consistently deliver this product to multiple clients today?
- If you sold 10 of these products next week, how fast could you implement them consistently?
If you can successfully answer these questions, you have created the outline of how to productize your service.
For more assistance with Productizing your Service, download the Productizing your Service Tool, or come visit me and my colleagues in .