Ever hear of the term Value Stream MarketingBy
Neither have I, until I did a search and typed Value Stream Marketing instead of Value Stream Mapping. It was completely accidental, but it was exactly what I was thinking. If you think about it, do you have a value stream map for your customers? I am not just talking about a map showing the process of what you do, but a process on what value the customer receives from each stage of your marketing.
It’s a different concept that I believe is imperative to the future of marketing. Think of the touch points you have with a customer. Is each one of them creating value? As we walk through the process in the Duct Tape Marketing Hourglass, we create a value stream. When your customer moves from one stage to the next stage, do you make it value driven? Is he receiving more bang for his buck? If he doesn’t, he may decide to jettison you right there. The stakes are being raised continuously and you have to deliver.
My E-book on applying the Theory of Constraints to the Marketing Hourglass is a good example on how one part of the marketing process may be limiting your overall revenue. If you find that constraint what would you do with it? How would you improve it? I would first start examining what got the person there to begin with and then increase the value of your offering based on the previous offer. If you are not getting enough referrals or repeat customers, think about an offer you could create that would add additional value to them. Give them something that they can simply not refuse. What would shake them up a bit?