This is the last topic in this series on productizing services, where we explored why to productize, identifying key services, pricing, GTM, sales, managing experience/complaints, and delivering better renewals. Once you master the art of renewals, only then can you embark on scaling your product or service. Scaling happens only when you have started building a loyal customer base, who keeps coming back to you month after month and year after year. Scaling is the next logical

For every B2B or D2C product or service (productized), the lifetime value of a customer defines the success of your product and organization. Typically, acquiring a client has always been costlier than ‘renewing’ the client. Client retention is not only about cost savings; the power of client retention, renewal, and upgradation lies in creating a halo effect for your service, leading to a multiplier effect in revenue and profits. Points 8 and 9, which focus on effective custo

Customer service is not just about creating a process to deliver the right service and consistent outcome; it is about managing expectations, especially in after-sales service or complaints. As you grow, people will expect exceptional service, and different people have different ideas about servicing and outcomes. While one tries to avoid such issues with standard outcomes, one should always be prepared for handling complaints, managing support tickets, and gathering feedback

Customer experience is a key outcome when you are trying to productize your service. The customer will look forward to a high-quality interaction with the product, quick resolution, and a personalized approach while working with the team. Each interaction works towards building trust in the product and adds to customer loyalty. And remember, this is expected not just once, but for every interaction. We will look at how to build this experience and create a winning customer se

Once we have the product ready, with a good PMF (Product-Market Fit), and we’ve thought through the GTM, a crucial step is managing sales. Now, do not confuse services (or productized services) sales with a typical FMCG/FMCD sales process. What you are selling here is a concept or a bundle of services put together as a product—it’s intangible, lacking the typical product look and feel. This makes the entire process of understanding and defining the sales cycle (and then after

Once the product and pricing are in place, the next step is the actual part – taking the product to the market and pitching it to the clients. I must put a word of caution here: the order of productization does not follow a standard route; it is zigzag, and many times, each step is a discovery process rather than a standard sit-down strategy discussion. A GTM (Go-To-Market) strategy is as important as your product. A product is as good as it seen by your client in the market.

Today, we’re going to talk about another measure in the crucial process of service productization; pricing. Pricing is one of the most important aspects and can be the difference between your product being successful or not so successful. There are several models which can be used for pricing your product but is your understanding of your customer / various segments / their needs which will go into the fascinating world of neuroscience to determine the right pricing. It defin

Once we have identified the service which is a core service and has possibilities of being converted into a scalable product, we will now be looking at how we design the product—the nuts and bolts that define the product and offerings, and how to convert those services into a tangible product. In this session, we will cover how to find the baseline service, create a package with add-on services, develop a product and brand, and, last but not least, establish a GTM strategy an

In our journey of learning about productizing services, we will explore the first critical step toward our goal: identifying the service(s) that can be productized and pinpointing the core service around which the entire product will be created. It is important to remember that not every service is a good fit for productization. Let’s discover how to identify the services that can be productized. We will also discuss the core monetizable service, value add-ons, and pricing of

The big question is, what exactly does it mean to productize a service? In simple terms, its about turning your unique, your own style / imprint services / customer approach into a standardized product, which can be copy pasted, is scalable and can be delivered by anyone who is trained to do so. This scale is, what can change the way you operate your business and plan to scale to a different level. For e.g, I was talking to a wonderful teacher (UPSC Coaching) yesterday, who h

In this first part of learning productization of services we will know why one should consider converting services into products. Why is this such an important deal and how it can benefit your organization. Before we get into this, let me acknowledge that a lot of people do this already, but without knowing the basics and following the right steps. 𝗪𝗵𝘆 𝗣𝗿𝗼𝗱𝘂𝗰𝘁𝗶𝘇𝗲? We talked about it in curtain raiser. Productizing your services can be a game-changer for your star

Welcome to next series on 𝗧𝗵𝗲 𝗣𝗼𝘄𝗲𝗿 𝗼𝗳 𝗣𝗿𝗼𝗱𝘂𝗰𝘁𝗶𝘇𝗶𝗻𝗴 𝗦𝗲𝗿𝘃𝗶𝗰𝗲𝘀 𝗳𝗼𝗿 𝗦𝘁𝗮𝗿𝘁𝘂𝗽𝘀 Services as most people know is customer centric and for a particular taste. Some services are generic and for a set of people. As you expand your customer base, the need is to transform services into scalable products. The transformation can help you grow, scale and streamline ops around the core ‘service’ delivery. There are no of examples, #Jio, #Spotify, #Air

A sales manager is not only impacted what is happening in his team and by his own policies and products, but also from the fast-changing market dynamics. In such times of uncertainty and change your team will look towards you for guidance and solutions. Your ability to read these changes and prepare yourself and team will be crucial towards yours and team’s performance. Staying Informed Are you just an executing Sales Manager or you have the ability to think and adapt as well

For a Sales manager, time management is crucial for balancing the demands of your role. Your role will involve from managing your team to achieving sales targets by visiting clients, handling administrative tasks, planning for the next month/qtr. Managing your time effectively will mean higher productivity, more in less and reduced levels of stress. We will find how you can master your time, juggle between tasks and boost efficiencies and throughput. Prioritizing Tasks The ba

Every Sales team and person will have a bad day / month / Quarter at some point of time. As a mid-level sales manager, it is your ability to identify the underlying issues and support your team to turn them around which separates you from being a good manager vs a great one and is crucial for your and team’s overall success. Today we will look into how we can manage performance issues and help team and self in turnarounds. Identifying Performance Issues An early identificatio

Setting targets and distributing them among your team members is a critical aspect of a mid-level sales manager's role. Effective target setting ensures that each team member is motivated and challenged, while fair distribution prevents bias and promotes equity. Let's explore how we can achieve these goals. Establishing Realistic and Challenging Targets First step in target setting is to ensure that goals are realistic, and yet stretched enough which needs the team to apply t

Promotions are looked forward to by every salesperson, they are natural part of career growth. Most organizations follow a policy of changing territories for person being promoted to avoid conflict, yet at senior positions there are circumstances where one may have to handle former peers, which could pose a challenge. Today we will talk about how to manage promotions effectively and navigate the dynamics of leading former peers. This is true for your own self as well as manag

For a mid-level sales manager, success hinges on effectively managing not just the FLE (Front Line Executive, but also the ‘team managers’ who guide them. It is this set of 3-6 Team leaders / business managers / area manager (name may change, i call them Team Managers or TMs) who play a crucial role in driving performance, collaboration, and ensuring strategic alignment within the team. If managing the FLE is tough, managing this species is an entirely different ball game. Le

A mid-level sales manager’s, primary goals is to build a (high-performing sales) team. You might just inherit a great team, or you might have the task of creating a team from scratch. For the latter, it involves recruiting the right talent, implementing comprehensive training programs, and creating a culture of continuous improvement. Let's explore effective methods to build a team that consistently meets and exceeds sales targets. Recruiting the Right Talent One of the most