Over the past few years, brands have attempted to enhance their business model to include both products and services. Some brands like Nike and RedBull succeeded, while others did not. While having a multi-touchpoint approach can yield great profit revenue, it has to be fit for your business and brand. Consider the following before you dive deeper into launching a service-based business.
What is Your Offering & How Does it Relate to Your Product?
Before expanding, you have to master the product itself and gain attraction from the consumers. Once that is accomplished, you can determine how to integrate your brand or product into a service fit for your audience. This step can be difficult because a service can mean so many things from an engaging app to a subscription box service. Once you have narrowed down the service that will work well within your scope of the specialty, consider the market and competition to develop a launch plan catered to your consumers.
Your Service Should Highlight Your Brand & Products
While your service model may offer many benefits to your business strategy, it needs to fit and nurture your already-established identity. By doing so it will hand-in-hand promote the brand products while feeling relatable to consumers. Tillamook does a great job of integrating its service and products to its existing customer base while attracting more potential customers.
Tillamook offers of variety of dairy goods for purchase, from ice cream to cheeses. To engage with their customers and provide a service, they offer tours of their farm and manufacturing facility. Not only is this enhancing their consumer loyalty by offering a behind-the-scenes look but it also reinforces the quality of their products and their expertise in dairy.
How Does It Engage Your Consumer?
Your service should appeal to your audience and fulfill a specific need. Huggies did that exactly when they started to host their own branded Baby Care Centers in Disney Parks. The brand already had a built-in audience, families with children, and capitalized on a location-based service. Their strategy is simple—it offers free childcare services for parents on vacation and allows them to purchase products on site.
Your approach can be completely different than others, as long as it is enticing to consumers and leverages your brand identity. Offering a service as a part of your business strategy can be fruitful, but it can also require a lot of money, time, and effort. With the right plan of action, you will be able to execute a service-style business that promotes your brand and its products in a captivating way.
Enhance Your Business Strategy Today.