…Products, that’s what! Agencies are taking some of their services and developing products that can be presented to clients and prospects.
Many of these products are based on general agency services, but have been branded and packaged.
For example, one agency has taken their ability to put together information about a client’s competitors and developed a report they call “Landscape™ – Your company’s 10 top competitors, fully analyzed.” They sell it for $5,000+.
Another has done the same thing for Target Audience analysis. They call it “Bullseye™ – Your company’s primary and secondary target audience – who they are, what they like, what they don’t like, etc.”
Your agency should think about creating products like this.
By productizing some of your services, such as research, brand development, strategic marketing planning and marketing communications plan development, you set your agency apart from others who may not have similar products.
You do this very simply by taking the service, developing a brand and packaging it in a way that makes it attractive to clients and prospects. Ideally, you should examine your processes and break them into steps or phases, detailing what happens at each stage. This will help you to explain—and sell—the products to clients.
Then, make a call and go and sell some services. You’ll be glad you did, and your agency will be much more profitable.
A funny thing about this… Clients who don’t feel they need to pay the agency a monthly fee for research, planning, etc, are far more interested in paying the agency a fee for a branded deliverable. You’ll laugh all the way to the bank.