At enPurple, we focus our efforts 100% on delivering pure productized services. These are services that are packaged in a particular format with a price tag. Today, we’re sharing more insights about the product positioning process steps for small and medium-sized businesses.
While many companies and agencies prefer to deliver services on a value basis, we chose the productizing way. People tend to appreciate products. Customers are looking for ready-made solutions that are catered towards their business’s challenges.
With an exclusive focus on building products, we invest a lot of resources into building a product’s image. The product’s image here is what you can call ‘Product Positioning’ in the market.
In this article, we’re diving deeper into what is a productized service and how you – as a company – can position your products for lucrative launches/sales in the market. We’re also sharing more information about the product positioning steps for businesses.
What is Productized Service?
Simply, productized services are very standardized products that are being sold in a form of a package with a defined price tag. Productized services also can go on one-time or recurring pricing – whichever fits the product more.
You’re defining – priorly – what your customer will get in terms of features, services, and privileges at what price. If you’re launching a website, I’m expecting to see your plans and pricing very simple and clear.
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productized services are more of a take-it or leave-it kind of a deal. We love productizing our services due to this awesome technique. No more building proposals, no more building mockup designs when the project is not clear, and most importantly we only focus our efforts/time on what really matters!
Steps of Product Positioning Process
Now that you’re building a product and launching it soon to the market, what could be the steps of the product positioning process? We’re sharing the top steps that you need to consider for building your product’s image into the market.
Here are the steps to consider:
1. Value & Features
We’re value-driven. Instead of focusing our efforts to achieve sales, we think more of what is the real value we’re contributing to the world. We’re continuously asking; how our products can make the customer’s business better, profitable, and valuable.
With that being said, the value your products are offering is your very first priority to work on. You need to define what are the features you’re offering to your customers, how you can make this product better, and are your current customers are benefiting from my products?
Value, value, and value. Shift your mindset to offering a real value instead of making more sales. This concept alone will help your business thrive dramatically.
2. Analyze Competitors
BUT how can you offer real value without looking at competitors in the market? This tip is very overlooked among entrepreneurs and business owners. They assume the market needs this while there are many other competitors are offering the same product the same way.
You need to think about how am I different. You don’t have to re-invent the wheel, or even re-invent whole new products that never existed before. This is not what I mean here! I mean you need to think about how am I going to offer this same service/product differently than others.
Think about the benefits. You can also focus on features like; money-back guarantee, warranty, a good-looking website showing the services, better images, better customer support, instant live chat, ..etc.
All these simple points are making a huge difference in your customer’s eyes.
3. Define Target Audience
A very important part of the process is to define the target audience. What is your customer’s profile? How they’re looking at your products and how could they benefit from them?
Professional marketers are taking this one step further by drawing custom profiles for their customers; how they look like, what are their interests, and how they process and make buying decisions.
All these custom profiles and analyses will dramatically help you to make your products better. This is because you’re tending to understand their needs and how customers are utilizing your products.
Conclusion
That was a quick walk-through on how productizing and positioning your products will dramatically affect your business. Focus your thinking about the real value you’re offering to your customers, and you will simply make it thrive easily in business.
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Think about all these inventions and simple services that are offering tremendous value in our world. Look around you now and see how many useful products you’re utilizing.
And on a smaller scale, examples are like; computer fix shop, bakery, mechanic shop, barbers, supermarkets, ..etc. These are all small business owners who decided to offer value in the world. With better customer service and a real understanding of customers’ needs, you’re easily making it to the top.
That was a quick recap on the product positioning process steps for businesses. Leave your comments below or feel free to let us know for any questions or inquiries to discuss.