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Volume 3, issue 30
Is your product intangible?
Perhaps you need to create a tackle box...John
Marketing idea
We have a client whose core value to
its customers is its intellectual property. The processes they
developed for the migration and integration of legacy systems gives them
a competitive advantage.
The challenge was how to market such
intangibles. Prospects always have trouble grasping the
intangible, they respond better to something they can put their arms
around. What our client came up with was a product they named the
tackle box. The product consisted of a packaging of their proprietary
processes, various case studies, software and training modules,
etc. They then changed their pricing and marketing material to
align with this new way of presenting the company's capabilities.
By transforming a service and
capability into a product they were able to present a crisp answer to
their prospects when asked what exactly were they buying.
