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.
As 2024 unfolds, the transformative impact of artificial intelligence (AI) on professional services is increasingly apparent. In a recent discussion on the Professional Services Pursuit podcast, hosted by Banoo Behboodi, Vecteris’ Eisha Armstrong explored how AI is helping professional services organizations rethink how they solve problems and create value.
In the realm of B2B professional services, where expertise and tailored solutions are the main offerings, the challenge of introducing new technology products or tech-enabled services is magnified as they can require significant upfront investment as well as new skill sets. Imagine if you could first test your new product concept with actual live, paying customers to be sure there is market demand before making that significant investment.
In today's fast-paced sales environment, equipping your team with the right tools is crucial for success. For organizations with lots of products, one such tool that can significantly enhance the effectiveness of your sales process is a decision tree.
As you embark on your productization journey, you're likely to encounter some familiar roadblocks – first, the need to quickly demonstrate value, and second, overcoming internal resistance to change. But here’s the good news: the secret weapon to generating ‘quick wins’ to overcoming these challenges lies in a focused approach to learning.
We often hear from customers starting on their productization journey:
“Can we productize without a significant investment in technology?”
The short answer is yes, absolutely. Do not make building a technology solution a blocker to starting your productization journey.
In 2023, we saw an accelerated shift of market trends that affirms the need for B2B professional services firms to form a digital strategy to compete.
Speaking Frankly - It’s Hard Being a Product Leader in a New-to-Product Organization
Transforming B2B Services with Cutting-Edge AI: Exploring the Opportunities, and Risks, of Generative AI
Services organizations who want to pursue a strategy of productization first need to make sure their leadership team understands and supports the strategy. This includes building a business case for productization, collaboratively defining the new business model, and modeling necessary behavior change.
