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.
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.
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Speaking Frankly - It’s Hard Being a Product Leader in a New-to-Product Organization
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Transforming B2B Services with Cutting-Edge AI: Exploring the Opportunities, and Risks, of Generative AI
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Sarah, a Senior Partner at a leading HR consulting firm, called me for some advice. Her team was struggling to bring productized services fully to market. As we talked through her situation, it became clear that they had lots of great ideas but weren’t prioritizing and, therefore, trying to tackle too many things at once. With that divided attention, her team wasn’t seeing ideas all the way through to successfully launch. They had confused internal activity with client-facing impact, and the lack of a structured, cross-functional review meant they had invested significant time and partner resources into ideas that didn't generate immediate, measurable value for the firm or their customers.
If this scenario sounds familiar, your organization is likely facing the same challenge. You need a critical pause point — a Quarterly Product Review.
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.
A management consulting firm recently partnered with Vecteris to develop a strategy for ‘productizing’ their services. As part of this work we also helped them assess whether or not they had the capabilities to support a product innovation growth strategy. We did this because good ideas are not enough.
