Productization – What Is That & How Do I Productize My Agency?

I keep hearing about PRODUCTIZATION:)

hBVY V3jxGdBKPJOjUJtE3sZe qDLhmr0EBOXkQp9uoQrT fEgXJVBu7SQL8xHT7Zh4KXfY i1orpy0Pei G8PEMAV E0YazRJ8y 2DQQDjXtbXlB20El2PXduwTsdMwqBn7bmV

BUT - What is Productization and why should I care about it?


Well, I guess we should start with the right definition -- According to Investopedia:

"Productize" refers to the process of developing or altering a process, idea, skill, or service to make it marketable for sale to the public. Productization involves taking a skill or service that has been used internally and developing into a standard, fully-tested, packaged, and marketed product. For example, a consultant might productize their expertise by creating a product or service based on that knowledge. However, productization is not the same as the production of a good or service.”

 RRW6OEx5p97ZCh4Gpvot50N1JMGUgv3jat9GHyYK AlYjWzU5buW9FhW9EhQuui6fedMv8AdP23rS0n4vxsVpvJZuQUn05orLLHJGCrA8z5pVp5L4vDgYcP09 JIfUBUcP7Rf kS

SO, there ya go -- I am sure you fully understand Productization just by the above official definition - Now go out and productize!

Or, if you are like me, you might need a little more direction and clarity on Productization and why it is important to you and your business.

Productization is a KEY STRATEGY IN CREATING AND RUNNING A SERVICE BASED-BUSINESS!

When something has been productized it means that it has been taken from a raw or minimally developed idea and has been turned into a standard, fully tested, packaged, supported and marketed product. 

Productization does not involve a tangible, physical good. Rather it is an idea, a process, a prototype, an area of expertise, or skill that has been developed (or productized). One can productize his or her expertise by creating a product or service based on that knowledge. 

To productize is not the same thing as the production of a good or service!

BUT -- Services may be productized, packaged and sold like physical products (confused yet?). For example, a marketer can write a “how to ...” book for new entrepreneurs that would teach them how to market their business, web designers can create a DVD series on how to design websites or savvy agents owners can sell predefined products … These “packages” provide overwhelming value and take considerably less time to implement. 

Hopefully, the concept is a little more clear on what Productization is and is not - but maybe diving into what you need in place to successfully build or transition into a truly productized agency will help make it even more clear. 

Basically, there are 6 steps or “Systems” to productize your agency and these steps are unique to each agency because...Every Agency is Unique!! You can keep it simple and develop just 2 or 3  products and rock them out or go bigger and provide products for every possible pain point in your specific niche -- Either way -- OWN IT!

AQm8cBBA7mdRGJJIjoI03G0v9 srofQW QmI8sCikDz8j 1HiLMp18wRjI3n8GCkqh8bka8CuNn2JeK2OZobyAlBuHdz5o5M4GO85tQE tZoCqLq fNzA8vBn48LktzSeEVIZlHm


Obviously, a blog is not the best place to do a deep dive into the whole system and trying to wrap up 18 years of experience in a blog is not that easy either -- that would take a lot more time -- but it is a great place to start!

AND, know that this information if used correctly can increase your profits by at least 15-25%. When you streamline the deliverable process by 30-50%, it is simple to see how your profits can double in some cases. 

Every time you deliver one of your products you can double check the quality against the checklist and if anything does not come back to your expectation level, you modify the technical task list and adapt for the quality assurance issue and BOOM, it is fixed forever!

Now, imagine once you get it perfectly dialed in, now you can duplicate it and deploy it thousands of times going forward. You can literally just cut the workload by half (if not more) on that project this time and every time going forward -- 

 

PRODUCTIZATION -- YOU GOT IT?  44Hiz47UbvcD CGwOBFejHmP31ZX Nybcrvgsqwm5wlEiFuBVr

The applications are limitless - you get higher profits out of productization - raise your prices via a value-based pricing model and cut deliverable cost by at least 30-50% --Think about it!! LIMITLESS!!

OK -- here are the - SIX SYSTEMS TO PRODUCTIZE YOUR AGENCY (overview)

HwGzjvIwWMRIZRcnvduWJgLUnPIqLdXiVSgpmS S3cvFePzR3nebWQmWdKQpuib6DWYtMRG7zuiA l8PGRd5yXl0EwiD FYtFKpuGgf2ovak97VlbEf3JItKFVuhKmHxj2AFAYv Rope - Stands for having a common thread. When you have something on a rope, you begin with the end in mind. You have a plan from start to end - all tied together. If you can get your entire product line in alignment with all your messaging, meaning everything on a rope, your close percentages will sky rocket and so will your profit margins.

RBKlf9WvnLk3fSEgWkDKMHs8DNu zSLaNhBmR2Gm3ptKZ RUpn43lqQE1vW2w4StIbiV5rqFTPo 69IvGmbbN8gNxMd7NQ R6va22ltC fZHxiy QHAUQHoTbzq5pUn6B7Ganle  Blocks - Yes, like the set you probably played with when you were a child. 

Those blocks allowed you to build shapes with different colored blocks that easily snapped together. Everyone bought the same blocks but used them to make different products (limited only by your imagination) These blocks are the same for your agency - you give everyone the same blocks but let them feel like they have created a masterpiece:) Give 25 identical blocks to 20 different kids and you will get 20 different results . The 20 kids all used identical blocks .. GET IT.

8h85Ve7ZbUFHUndZXYkdpwUpmDYbExKYgA49OCE gHJX8nA1JuRVB6NGAd 9DH1tB26bJxbUKDR2pzyy4B2W3bYugWynNVIsOjI X54 lq901RhMFQ4entVQkdVlEDsKyQrTasmr  Service Framework - You must have a standardized system that delivers predictable and reliable

results every single time you sell one of your products. When your products are broken down into individual objects that your service department can proactively plan to deliver, you are now empowered to build any combo package you want ( as long as you stick to your blocks).

o9q7RyxCBCo6H8H9Ng0QRuWgdX  Value Based Pricing - Value-based pricing is an instrumental part of productizing your agency. By default, you will establish a value-based pricing model with your products when you set up your blocks. (Trust me, it will all come together if set up properly)

dDKsasgVNAVKDwkquuRVG tgAI34vVaipIBwtaxtUG1WDw NOcWL GDim hNuGlrVi0v7yWNoBxoZqDWf KifPTN4OxBtb540fl4HTwsHkBHvil6dy5 Bespoke Equals Broke - This is just one of those sayings I say in my coaching calls -- The point of productization is NOT to 100% eliminate custom work, but the point is to mitigate it as much as possible.

NOvXE6vulBXQJldQb3wWNm0wJGeJ4xS  Existing Clients - When transitioning former clients there are creative ways to introduce the new product line to your existing client base. Touchy but can be done. I coach people through it everyday.

PRODUCTIZATION WRAP UP

Productization is taking your idea, skill, or service and making it marketable for sale to the public. You have a skill or a service that brings value to people just like a physical product so why not productize it like a physical product? Productization does not mean completely eliminating custom work, it means minimizing it so you can have more freedom to do what you enjoy all the while still keeping your clients happy:)

​​​​


Lee Goff

Hyper focused on serving digital agency owners grow, scale, and enjoy their digital marketing agencies. It is hard to grow a digital agency unless you have the right tools and guidance.
Close Menu