All Posts, Entrepreneurship, Product Marketing / April 18, 2016

Five Smart Ways to Repurpose Your Products and Services

We often get into business for ourselves because we realize that others need a product or service we’re knowledgeable about. However, once caught up in the day-to-day operations of our business, we rarely take the time to re-think how we are offering our goods and services. Here some ideas that can quickly and inexpensively expand your product mix, thereby increasing profit opportunities.

New delivery options
1. Digital
2. Phone
3. Physical delivery & pick-up
4. Mail

For example, a personal trainer could offer instructions over a video conferencing.

Upgrades
1. Preferred customer service
2. Premium versions of offerings
3. Add-on products/services
4. Bundled packages

A high-end dry cleaner could partner with a stylist to offer premium image services.

Budget versions of current offerings
1. Do-it-yourself offerings
2. Cut back services
3. Strip away extras
4. Create trial version

A consultant could offer quick email answers as a cheap alternative to full service.

Productize services
1. Create webinars, workshops, books, and other info products
2. Use technology to automate services

What if a caterer offered freshly cooked, quickly frozen weekly dinner packages?

Strategic Alliances
1. Affiliate sales (inbound & out)
2. Bundling your products with someone else’s

A chiropractor could team up with an acupuncturist to offer pain relief services.

Alexa Passos

Alexa Passos is a Certified Guerrilla Marketing coach with over 20 years of experience. She combines a creative flare with an analytical mind to tie marketing to sales results.

Your business success starts and ends with you. That can be a heavy burden to carry. But it is also what makes business ownership so very rewarding. Although there is a lot of people between where success starts and where it ends, your attitude, understanding and vision sets the stage for how things play out.

Our coaching program helps you reach your business's potential by working directly with you to set ambitious and achievable goals, clarify your strategy, identify resource gaps. We that your processes are clear and complete. And we work with you to measure and improve results throughout your business's marketing function. It just takes an hour a week to get started. [contact-form][contact-field label='Name' type='text'/][contact-field label='Phone' type='text' required='1'/][contact-field label='Email' type='text' required='1'/][contact-field label='Why are you intrested in coaching?' type='textarea' required='1'/][/contact-form]

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86.6% of U.S. SMBs cite websites as their most important digital marketing tactic. (Source: eMarketer)

The change in a website bounce rate spikes to 100% when a page takes 4 seconds or more to load. It jumps to 150% if a page takes 8 seconds or more to load. (Source: Mobile Joomla)

$1.1 trillion of all retail sales in 2011 were “web-influenced.” (Source: Forrester Research)

88% of consumers who search for a type of local business on a mobile device call or go to that business within 24 hours. (Source: Google Mobile Movement Study, 2011)

48% of users say that if they arrive on a business site that isn't working well on mobile, they take it as an indication of the business simply not caring. (Source: MarginMedia)

62% of companies that designed a website specifically for mobile had increased sales. (Source: Econsultancy)

78% of client-side respondents stated that their company was extremely or quite committed to delivering the best online user experience. (Source: Econsultancy)

Source: In-Depth Report: Demand Generation Benchmarks by HubSpot and Qualtrics, 2014

Companies exceeding their revenue goals report branding, website design and optimization, and social media as their top 3 marketing investments.

Companies with between $250,000 and $10 million in revenue all average a cost per lead of $26-$50.

Nearly 80% of companies not meeting their revenue goals attract 10,000 monthly website visitors or less.

74% of companies that weren’t exceeding revenue goals did not know their visitor, lead, MQL [Marketing Qualified Leads], or sales opportunities.

79% of all marketing leads never convert into sales and a lack of lead nurturing is the common cause.

60% of those exceeding their revenue goals had an above-average [email] open rate.

Over 80% of marketers consider increasing overall conversion a dominant priority for their website optimization programs. (Source: MarketingSherpa)