The concept of doing business with a handshake is now such a foreign and antiquated concept. Traditional businesses need to be selling their products and services using eCommerce and the tipping point is coming sooner than everybody thinks.
As the world enters this new era, people and businesses are figuring out how to adapt to it. Aware that budget cuts are being made and people are overwhelmed with the feeling of uncertainty, it’s crucial that business-to-business (B2B) companies must continue to evolve, innovate and explore incremental revenue streams while fulfilling client needs. People are going to be working from home more with irregular office hours. The stereotype of a 9-5, Monday-Friday desk job will become a thing of the past. Businesses need to be open 24 hours a day, 7 days a week so customers can buy when they want to buy.
That is why Major Tom has taken complex services that they offer and productized a manageable chunk of each one that can then be purchased on their newly-launched eCommerce store The Tin Can.
By packaging individual service deliverables as a clearly-defined piece of work for a set price, B2B companies can provide new service offerings that fulfils the vastly different needs of today’s clients. Selling these services on eCommerce platforms like Shopify or Amazon, allows users to purchase the productized services exactly when they want or need to. It also opens the digital door to more advertising opportunities through shopping ads thus allowing companies to further their reach and increase brand awareness. Most importantly, it creates a new revenue stream which is vital for survival, especially if COVID-19 has caused other revenue streams to dry up.
Productizing services is not new. Fiverr and TaskRabbit offer thousands of productized-services, including Ikea’s Assembly Services. However, this strategy is still highly uncommon amongst B2B companies and has never been done by an agency. It can be argued that focusing on transactional rather than value-add selling can lower the company’s market position.
However, businesses must understand the realities of the new business world and lean into the change. The lower price point, lower barriers to entry, and fast turnaround time of these value-packed offerings will attract clients. It also addresses a client’s emotional needs by providing them with a sense of certainty by stating the price and deliverables at the very start.
With Major Tom’s adapt-or-die mentality, the agency will show the industry how this is the way forward. By implementing the right strategy, building rapport, and providing quality of service, these short-term, quick-revenue relationships can evolve into long-term relationships as clients transition over to the organization’s main services over time. This is how companies can survive the COVID-19 crisis, and thrive after it.
About Major Tom
Major Tom is the next iteration of digital marketing — a full-service agency that’s been purpose-built to help organizations thrive in an increasingly complex landscape. With offices in New York, Toronto, and Vancouver, Major Tom has a team of 70 specialists covering the full spectrum of strategy, marketing, development, and creative.
About The Tin Can
Owned by Major Tom, the purpose of the online store is two-fold. The Tin Can provides a platform to sell products and services related to the brand, as well as allow the agency to test and experiment with eCommerce platforms, plugins, shopping ads, and loyalty programs. Launched on April 1, 2020, the Shopify-based store currently sells 14 services, 7 merchandise products, and 3 collections of apparel and accessories.