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?
Related Information:
Ebook: Using the Theory of Constraints to improve your Marketing
Getting marketing mappings to be done against marketing constraints is great ideas. Those elements that are most critical rise to the top while others get lowered as a process of identification and prioritization.
Great topic!
Many times, marketing mappings will identify your constraints, thanks for comment Gerry
What would be an example of an additional offer to give customers in order to increase repeat business? I own a 6 month old carpet cleaning biz.
The obvious to me would be while you were there, discount on additional room, floor, furniture. Or even, throw in a room or piece of furniture for a neighbor referral done on the same day.
Not knowing your typical lead time but if you do a house, maybe walk around the block and put door knocker pamphlets on the doors and offer your customer a free piece of furniture cleaned the same day that anyone that uses the door knocker with his name on it in the next 3 months. Structure and timing is everything!
What would be an example of an additional offer to give customers in order to increase repeat business? I own a 6 month old carpet cleaning biz.
The obvious to me would be while you were there, discount on additional room, floor, furniture. Or even, throw in a room or piece of furniture for a neighbor referral done on the same day.
Not knowing your typical lead time but if you do a house, maybe walk around the block and put door knocker pamphlets on the doors and offer your customer a free piece of furniture cleaned the same day that anyone that uses the door knocker with his name on it in the next 3 months. Structure and timing is everything!