What is a productized service

Created at
February 11, 2021

What Is a Productized Service?

Have you ever heard of a productized service? Chances are, you haven't. But that doesn't mean it isn't an important concept. In fact, productized services could be the key to your business's success.

However, what is a productized service? And how can it benefit your service company?

This blog post will answer those questions and more. Keep reading to learn everything you need to know about productized services.

What Is a Productized Service?

A productized service is a standardized, packaged solution for delivering services to customers with well-defined needs. These tailored solutions require less time and effort than traditional products because they're always delivered in accordance with your specifications across all clients; additionally, you can set up an automated process that will take care of even the most tedious parts.

Apart from being more efficient and profitable, productized services offer several other benefits, which will be explored later in this article. However, the key takeaway is that productized services can help your business grow and scale more quickly.

Who Should Start a Productized Service? 

If you're looking for a way to differentiate your business from the competition or feel like you've hit a plateau and can't seem to grow any further, then starting a productized service might just be the answer. In fact, any company that provides services can productize them - there are no specific requirements.

However, these are some professions that are particularly well-suited to productized services:

  • Consultants can offer productized consulting services.
  • Freelancers
  • Software House
  • Lawyers
  • Agencies
  • Accountants

How to Create a Productized Service 

Now that you know what a productized service is and why you should offer one, it's time to learn how to create one. Here are the steps:

Define Your Service 

The first step is to define your service. This means outlining the specific problem that you're solving for your clients and what value you're providing. In other words, what makes your service unique, and how is it different from the competition?

Package Your Service 

Once you've defined your service, you need to package it in an easy way for clients to understand. This means creating a clear and concise description of what you do and outlining the benefits your clients will receive.

Set Your Price 

Next, you need to set your price. This is an important step, as you want to make sure that you're charging a fair price that's also profitable for you.

Here are a few tips for setting your price:

  • Always charge a fair fee that's profitable for you.
  • Compare your prices to those of the competition.
  • Make your package retractable enough to increase your prices as you get better at the service.
  • Base your price on the value you're providing to clients.
  • Don't undercut yourself or charge too much.

Build Your Process 

The next step is to build your process. This is the automated system that will take care of delivering your service according to your specifications.

Train Your Team 

The final step is to train your team. This means ensuring that everyone involved in delivering your productized service is fully aware of what's expected of them and how to do their job correctly.

The Benefits of a Productized Service 

More Sales and Profits 

The biggest benefit of a productized service is that it can lead to more sales and profits. By packaging your services so that clients can understand, you're making it simple for them to buy what you're offering. 

In addition, since your process is automated, you can scale your business model more easily - which means you can take on more clients without having to worry about compromising the quality of your service.

Faster Payments 

Another benefit of productized services is that clients tend to pay faster than they do for traditional services. There's less room for error when you're delivering a productized service, which means clients don't have to wait as long for you to fix any mistakes.

Streamlined Processes 

Productized services also help streamline your processes, leading to a more efficient business. This is because you can automate many of the tasks involved in delivering your service, which leaves you more time to focus on other aspects of your business.

Defined Scope 

Another benefit of productized services is that they offer a defined scope. This means clients know exactly what they're getting when they buy from you, which can help to reduce confusion and prevent misunderstandings.

Less Stress 

Productized services can also help reduce the amount of stress you experience as a business owner. Since much of the work is automated, you don't have to worry about micromanaging your team or doing all the work yourself. This can leave you with more time to focus on other aspects of your business.

Grow Your Business with a Productized Service 

If you're considering starting a business or are struggling to figure out how to take your current services to the next level, a productized services model may be the answer. Many business owners have started offering their services by following this revenue igniter model to their potential customers.

They offer entrepreneurs and online businesses many benefits, including scalability, profitability, and repeat customers. You can also custom services in the form of productized services. By following the tips in this post, you can create your own productized service that meets your clients' needs and sets you apart from the competition. Ready to get started?

Back to blog