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To 'Monetize' You Must First 'Productize'

Written by: Curtis Sullivan

Article Overview: Companies looking to expand and grow would be wise to clearly identify what services or products they offer. Productizing is identifying the the services offered or goods distributed by a company for promotional purposes as "products," AND converting an idea, process, area of expertise, etc. into a marketable and salable product. Companies can expand their potential to monetize through articulated personal branding.

To 'Monetize' You Must First 'Productize'

Everywhere you look there is promotion about creating a personal brand, and that through personal branding will come professional success. Thousands of people are creating and developing their personal brand and digital identity right now through personal websites, blogs, social media, and more in hopes of establishing themselves and growing their business. With all of the passion and excitement that corresponds with developing a personal brand and promoting oneself, people can often forget to articulate what it is that they actually do (and how they can help), which is truly one of the easiest mistakes to make along the way.

Personal branding is fundamentally about knowing what it is that you do better than anybody else, and then sharing that information - this identifies you as an intelligent and credible source. As you grow your personal brand, identifying the products and services that you and your company provide is absolutely paramount; this can and should be the cornerstone of your virtual growth. Once you can clearly and concisely identify what you have to offer, the rest just falls into place.

Productizing is a relatively new term, and it can be identified as two separate, though related, methodologies:

• Identifying the the services offered or goods distributed by a company for promotional purposes as "products;" This means: clearly articulating what it is being offered, how much it will cost, and the benefit of using the product.

• Converting an idea, process, area of expertise, etc. into a marketable and salable product - gathering your expertise, recording it, trimming it, packaging it, promoting it, and selling it.

Things you should consider as you productize yourself, your personal brand, and your company.

1. Know what you are good at

• Only you know what it is that makes you the best in your market. Consider spending some time (re)evaluating your specific niche, and clarifying to yourself why you should be considered credible and crucial. As G.I. Joe says, "Knowing is half the battle!"

2. Record what you know

• This may seem like a huge undertaking, but it is incredibly necessary. Get as much information "on paper" as you can; this should be a positive experience for you, as you hopefully are passionate about the subject matter. Once you have put your passion and knowledge into words, you can then start refining and processing your wealth of knowledge.

3. Package your passion

• Ask yourself, how can I provide a concise and structured way to disseminate this information, and how much is it worth? Spending some time doing research on what is currently available from potential competitors will assist the process of establishing your strengths in the field; this should also help you creatively determine how to approach and market differently from anybody else. If your niche is broader than others, then break it up into marketable packages about the service(s) that you - specifically - can provide.

4. Promote yourself

• This is where personal branding becomes a successful way to draw in an audience. As you get involved on the internet, expand your online real estate, and establish yourself as a primary source of information you will find more prospective customers and clients coming your way.

Once you have successfully productized, the door will be open to monetize. Monetizing, in this situation, is identified as converting into money. Clear identification of your individual product(s) allows your potential customers and clients to purchase what you have to offer, and thus generate money and wealth for you. Productizing is an ongoing process; constant development, refinement, and addition of ideas and products will keep your business as well as your personal brand relevant. The more you have to offer diversifies and expands your potential client base.



Smeester and Associates offers services and solutions to assist clients in productizing, development of their personal brand, social media marketing, monetizing, and much more.

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Article Tags: being the best, digital identity, excitement, gathering knowledge, generating targeted sales leads, identifying services and products, increasing internet visabilit, making money, monetizing, passion, personal branding, personal websites, Productizing, professional development, professional websites, small business websites, virtual identity
Referred by: http://scott.smeester.com



Related Forum Posts
Re: Great start, but no finish - My advise is FOCUS on your business. Focusing is the main factor to succeed on business. If you have a great idea, then follow it only, don't look anywhere else. It is especially essential in an online business. Because there are a lot of mind blowing sales letters promising millions dolllars or overnight success, people find it difficult to concentrate on one business and they lose their energy. Concept is simple. 1- Have a good idea; 2- Build your business on it; 3- Monetize your business; 4- Promote it; 5- Build list of responsive customers; 6- Maintain You Business. Focusing and not fearing from competition (instead you can learn from competitiors) are main tips of billionaires ,BTW. Orxan
How do you know if you have a good idea? - [quote="orxan":3118uboz]My advise is FOCUS on your business. Focusing is the main factor to succeed on business. If you have a great idea, then follow it only, don't look anywhere else. It is especially essential in an online business. Because there are a lot of mind blowing sales letters promising millions dolllars or overnight success, people find it difficult to concentrate on one business and they lose their energy. Concept is simple. 1- Have a good idea; 2- Build your business on it; 3- Monetize your business; 4- Promote it; 5- Build list of responsive customers; 6- Maintain You Business. Focusing and not fearing from competition (instead you can learn from competitiors) are main tips of billionaires ,BTW. Orxan[/quote:3118uboz] Thanks orxan! But how do you know if you truly have a good idea or not? If we ask ourselves, we may be suffering from tunnel vision. On the other hand, friends/family may try to discourage us from pursuing a small business because of their own fears, while others will simply give us an empty "you can do it!" line.


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