I’m not seeing the market use product based services correctly in their arsenal.
Done right, creating and selling product based services allow you to extend your client lifetime value by ideally an additional 6-12 months (and that’s on the low end)
Here’s a quick debrief:
Product based services are not:
- templates and videos packaged and sold as a course
- a half baked product that doesn’t really get results for clients
- a lazy way to scale your business
Product based services:
- de-risk the larger engagements with you
- are a bridge to project based services (sold on retainer or subscription)
- provide the client a direct dopamine hit (solves an immediate problem) and allows you to build relationship