Are you providing a solution that allows a potential client to work with you at a lower risk?
Custom work is often times a big ask. It’s a big investment for someone to not just pay, but also to spend time on.
Here’s why I like having a smaller, more productized option.
- Reduces the risk for the lead
- Reduces the risk for you
- Allows both you and the client to get quick results
This especially works nicely if you are just starting out.
Are you thinking…
“I would like to have one, but I just don’t know what.”
What this solution could be, starts by listening and observing opportunities.
During a sales conversation simply ask the lead “What would be a quick win for you?”
As you start to hear answers, watch for a pattern. What sort of quick wins are you hearing?
Write them down.
In Ask Rezzz A233, I share with you 3 other questions that you can explore in order to start building out a productized service
Who will buy my productized service?
Next what you want to do is identify the type of customer who’s asking for these. Simply put, if you are a generalist and you work with non-profits, local businesses, and agencies, note what each type of customer is asking from you.
They will be different. But it’s important to know who is asking what so that you can then go ahead and market your solution.
This won’t be something that appeals to everyone. So you have to be mindful of who is buying it.
How to do market research for a productized service
You have to do your homework, just because your one lead said it would be a win, you can’t assume that it’s something the market wants. That’s why I encourage you to get a few leads saying the same thing before it even becomes viable for you.
Look around online, especially in places where your target customer is. Good places to start are Facebook or LinkedIn Groups. See if folks are asking questions and looking to solve this problem that you have identified.
Land that first client
That first client, even the second, may not be profitable. You should look at them as paying the cost of building out the process. A productized service needs a process. If that process isn’t outlined, documented, and performed step-by-step then the service will certainly not be profitable, nor be able to be called productized.
As you document the steps to deliver the service, you’ll see opportunities to improve and that’s ok. The next time, take that opportunity to improve it and then re-write that documentation.
It doesn’t need to be perfect today, just needs to be delivered so that your client is happy with the end result. You can then get their testimonial and referrals as well.
As the solution grows by you getting more and more customers, your process will improve and become more and more profitable.
It will also be easier to attract the leads to it too because you’ll then be able to build out a sales page that speaks directly to that market.
Are you going to give this a try
There are many more steps in this process, but I wanted to spark some inspiration and direction for you to take if this is something you are considering.
Take it from me, I’ve built a productized service based on Drip to ConvertKit migrations. In January, from 5 tweets, I landed 4 paying clients of $750 each. I don’t normally discount the services, however there was an opportunity that was unexpected that I wanted to see if I could close a high-value service through Twitter.
This was my productized service that normally runs at $1500 each that I’ve built scripts to do most of the heavy lifting. Each migration on average takes about 1-2 hours. That’s an effective hourly rate of $325-750 per hour.
Here are some further resources that you'll want to check out that directly relate to the show.
You rock! 🤘
Thank you for listening to the show! 🙏
There are a ton of podcasts you could be listening to today, but you chose mine, and for that I am very grateful.
Obviously without your questions, the Ask Rezzz podcast would not be possible.
So if you enjoyed this show, please share it by using the social media buttons you see at the top of this page.
Also, if you would be so kind as to leave an honest review and rating over on iTunes. They’re extremely helpful when it comes to the show being found by other freelancers such as yourself looking to build an amazing and profitable freelancing business. Not to mention that I read each one personally and can't promise that there won't be a delightful 'thank you'.
And if you haven't done so already, don’t forget to subscribe to the podcast on iTunes, to get the latest episode each and every day.