Project-based services, freelancers, and consulting firms that are being paid by the hour or per project is not very ideal and sustainable if you want to grow or expand your business. The new trend today is turning services into productised services.
Productised services allow freelancers, consultants, and creatives to get paid according to the sets of services done for the client. This way, this sector of the industry gets fairly paid as for companies who actually market tangible goods.
What Are The Purposes of Productised Services?
Productised services are typically standarised services that are sold like tangible goods. It has to have defined pricing and range of services rendered. If you are able to clearly outline what services you will deliver to your customer at a fixed price, it will be easier for you to market the same set of services again to the same or another customer.
The Benefits of Productised Services for Freelancers, Creatives, and Consultants
With productised services, you will have more room to grow and more time to do more projects instead of spending more time doing a lot of hands-on work on each client or for each project. This might be a good example of this type of service: https://www.itdynamics.com.au/services/education-it/
If you have a concrete model of each of your services rendered, you can duplicate it when another client is asking for the same service. So, you need not make another model for a different client. Rather, you will only have to modify the model to fit your client’s needs.
If you switch your special services to productised services, you can easily market them to different customers. You will substantially increase your income without adding too much cost to your overhead expenses and overall expenses. Moreover, you can also slowly expand the range of your service area and offer other relative services. These products can be add-ons or a totally different service which you can market on the side. You can sell these productized services in groups or pre-packaged that best fits the client’s demands.
Also, your portfolio will help you clearly present your experience, services, and skills to clients. It needs to be updated so your portfolio will project how long and how many have you served. It is also one way to showcase your style and your strong points.
Another benefit of productised services is that it takes your worry off about the timeframe of the project. If you have standardised the pricing and the services, delays beyond your control will no longer be a problem. Also, you will need not hesitate about getting the project or not hoping for something better to come along soon.
Lastly, the advantage of productised services is that you get to eliminate scoping which will save you effort, time, and resources while trying to save your profit for each customer. You will earn a faster turnaround and you will get to put profit to the side while other parts of the payment are put onto other marketing funds.
What are the Benefits of Productised Services for Your Customers?
For your customers, they will be able to acquire a more affordable, standardised and clear product description and services. They can save money from paying you per hour for a one-on-one consultation that sometimes results in nothing. With the fixed price and scope of work clearly state, your client will be able to know which best fits his/her needs while being able to assess what kind of services he/she can afford.
Freelancers and consultants are the most common profession that lives by per project. Switching their per hour services into a more concrete standardised one, they will be able to gain stability in terms of income, clients, and workflow.