Insights on How to Productize Services and Solution Offerings
A collection of news, insights, and best practices for productizing services, conducting market research, developing new products, and commercializing offerings.
When the world shut down a year ago, business began to slow for many professional services firms. For many, the slowdown created an opportunity – or urgent need – to try to productize their services as a strategy to grow scalably, improve valuations, and fend off new digital-first competitors.
I was explaining to a client the other day that the biggest mistake I see companies make when developing new products is developing a product that does not solve an urgent and expensive customer problem. Turns out he’d heard me say that before. Many times.
It is so much easier to innovate new products or services when we stop trying to be perfect.
A few years ago, I read the book Designing Your Life by Bill Burnett and Dave Evans. The book describes how to use design thinking innovation practices to help people proactively explore and change their lives to make them more meaningful. More fulfilling. More joyful.
Imagine you run a marketing consulting firm. The firm has a market intelligence database and data analysis methodology that it uses as part of its highly customized consulting engagements. It’s pretty lucrative.
Product innovation and management are key capabilities for developing successful scalable, digital products. But if you're new to product innovation and management, building the processes and competencies you need to be successful can be overwhelming. For example, should you start by improving your voice of the customer skills or Agile project management skills or product usage analytics skills or all of the above?
My recent executive conversations have a common theme - speed. Specifically, they all want their teams to move faster.
