Indirect productization is a perfect first step into data productization for many businesses because it is relatively simple but efficient. In the B2B and B2C environments, indirect productization is becoming one of the biggest trends for improving business performance and profitability. All of this can happen simply by taking advantage of the great data you own and using it in a different, more business savvy way.
Indirect productization focuses on improving performance processes, developing new products, digitizing current products or services, and building partner relationships.
Unlike direct productization, indirect productization does not charge customers directly for data. The value of the data is increased through other parts of the product life cycle, ranging anywhere from data acquisition to proof of value. It is important to understand what part of the product lifecycle is most efficient for your company to use.
The beauty of indirect productization is that it can be catered to your specific needs.
Each area of the product life cycle comes with different benefits and different risks, which makes using your data efficiently even more important.
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Examples of potential solutions:
- Acquisition
- Conversion
- Retention
- Engagement
- Adoption
- Maintain/strengthen competitive advantage
- Brand recognition
- Proof of product value
The difference between a successful and unsuccessful indirect productization launch is in the approach.
Which customer segment are you targeting? Which services can you best productize? What value are you bringing to clients? What are your competitors doing? What are your competitive advantages?
For help answering these important questions and coming up with a comprehensive strategy, connect with our team today.
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