What is Productization?
How do you take what you’re selling and add more value for the customer? Are there ways to take your product(s) and put them into a package that a customer can identify with? For my own business, when I tell someone I’m a business consultant their eyes glaze over. They don’t really have a clue how I can help them, especially if they don’t know me. So I’ve productized my services by bundling them into several packages. Not all products and services lend themselves to bundles or packages. So ask yourself if your product(s) would benefit from productizing. For example, before I talk about my services, I try to find out exactly what a customer needs. Most business owners who approach me know they need some expert help but don’t always know the questions to ask or how to sort through all the options to find a suitable resource. By taking the time to learn about their needs, I can talk about the specific product and/or package that address those needs.
Let's take another example. If you ask a florist what she sells, she might say "flowers". But what if I didn't walk into her shop because I wanted to buy a few flowers? What I really want is flower displays on the tables for my next workshop. And the last thing in the world I want is to buy flowers and then figure out how to make them look pretty on the tables. What I’m looking for is a service that includes flowers in a display that is appropriate for my event. And I want them delivered. So what I need from the florist is for her to quickly recognize my need and provide me with a selection of products that she has already identified as appropriate for my requirements. What I would resonate with would be a product called ‘Flowers for your Event’ because I have confidence that the florist has put some time and energy into figuring out what I’m trying to purchase.