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Whatever
You Sell, You're Selling Both Products AND
Services.
May
3, 2006
We
tend to separate companies as "service companies"
or "product companies."
In truth, all companies sell both. No matter who
you are, if you're in business, you're selling
a product AND a service. One might
dominate, but you're still selling both. One is
tangible and the other intangible. You need to
know what they are and, more importantly, market
both of them!
Let's
take insurance as an example. Would you consider
that a tangible or intangible business? Most people
would say that insurance is a service business
because no tangible product is exchanged. Well,
in truth there is a tangible policy being exchanged.
But, more importantly, there is bona fide cash
being paid on your behalf when the insurance companies
pay your healthcare providers. Ask them if they
think that's tangible!
What
about the intangible? That's the peace of mind
you get from having insurance. That's being qualified
to get good healthcare. That's the company taking
care of you when you have questions or need assistance
in filing your claims.
Now let's take a pizza restaurant. The
tangible? That's easy—pizza. The intangible?
That's the experience of calling to place your
order. Whether or not you get the order right.
How quickly you get the pizza delivered. How flexible
you are in taking different forms of payment.
How courteous your delivery guy or gal is at the
door.
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be a marketing maven, you have to be crystal
clear about both the tangibles and intangibles
you're selling.
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The
big question is whether or not you're effectively
focusing on both and marketing them.
This
week:
Make a list of the tangibles and intangibles you're
selling. Assess if your company is focusing well
enough on both issues, and if you're marketing
both heavily enough. Any changes required?
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