Productization: Systemize Your Services With Eisha Armstrong

Eisha Armstrong is the Co-founder and Executive Chairperson at Vecteris, which helps B2B companies productize their services and solution offerings. With over 25 years of experience launching data and information service businesses, she advises executives on building cultures that foster product innovation. Eisha is also the author of the best-selling books Productize and Fearless. Committed to empowering women, she has contributed to organizations, including Women Helping Women, and is a Limited Partner at New Wave Impact, a women’s investment firm.

Here’s a glimpse of what you’ll learn:

[3:10] Eisha Armstrong’s career journey and expertise in productization

[5:36] How to productize a service

[8:45] The three levels of productized offerings

[12:51] Integrating products with your services — is it profitable?

[15:29] Processes for evaluating if productization is right for you

[19:59] Tips for pricing your offerings

[24:07] A standardized system for packaging your services

[25:45] Eisha provides an overview of her books

In this episode:

Productization has emerged as a method for marketing and selling services to clients who lack the time and resources to perform in-house functions. The process involves multiple service levels that businesses can choose based on their capabilities. How can you productize your services and determine an ideal offering?

Productization veteran Eisha Armstrong says the most common method of productizing your services involves systemizing service delivery by implementing technology and packaging and pricing your offers like products. You can also promote one-time offerings like educational courses and books or product-as-a-service offers like software that performs specific business functions. Most businesses observe significant growth after implementing the first productization process, whereas others observe opportunities to diversify by bundling products and services.

In this latest episode of Systems Simplified, Adi Klevit sits down with Eisha Armstrong, the Co-founder and Executive Chairperson of Vecteris, to discuss productizing your services. Eisha explains whether it’s profitable to bundle products and services, the premise of her books, and how to package and price services.

Resources mentioned in this episode:

Quotable Moments:

"AI will not replace humans, but humans who use AI will replace humans who don't use AI."
"You can reduce burnout in your team and charge more by productizing your service offerings."
"Productizing a service allows you to make your business sellable and scalable."
"Taking a product mindset is essential when evaluating opportunities for productizing services."
"Using generative AI is becoming an urgent need for firms to remain competitive and not become obsolete."

Action Steps:

Evaluate your service offerings to identify standardization opportunities: Standardizing services ensures consistency and quality, which are critical for building a scalable business model.
Develop a value-based pricing strategy rather than relying on cost-plus pricing: This approach more accurately reflects the value delivered to clients, making the services more appealing and justifiable in terms of cost.
Cultivate a mindset that embraces testing and continuous improvement: Being open to iteration and feedback is crucial for fine-tuning productized service offerings to meet client needs effectively.
Experiment with AI and other technology to enhance service delivery: Integrating AI can lead to more efficient processes, offer a competitive edge, and potentially open new revenue streams.
Ensure your offerings align with the specific needs of your customer personas: Tailoring services to address distinct customer profiles allows for targeted solutions that resonate and provide more value.

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