By now, most business executives are well-versed in understanding their supply chain – that system of organizations, people, technology, activities, information and resources involved in moving a product or service from supplier to customer.
Michael Porter introduced the concept of “Value Chain” back in 1985 to identify, measure and optimize how each touch point along the chain can (or should) add value. The main point being, that at every step, is the value is undefined or poorly executed, you have a kink in your chain that will impact the bottom line through late deliveries, poorly-made products, inferior service, etc.
In my experience, most marketers have lagged in their understanding of the marketing value chain. Marketing disciplines can seem like a hodgepodge of independent efforts, poorly connected and therefore not delivering as much marketing value – or return on marketing investment – as they should.
- How many market research studies have gathered dust with no action taken to embed their insights into the next campaign?
- How many strategic marketing plans are sitting on the shelf while short-term marketing campaigns get developed in a vacuum?
- How many sales kickoffs have been launched without a clear service-level agreement with marketing on the exact type of leads that sales expects to receive to make their number?
- How many new employees have been hired without HR integrating the company’s brand values into the selection criteria?
It’s this very problem that inspired me to develop the “Ten Pillars of Meaningful Marketing.” Each pillar is an opportunity to shine a light on a stage of the marketing value chain for assessment, brainstorming, planning and measurement.
We have a series of workshops designed to shine a light on your marketing value chain. It’s a low-risk, high-reward opportunity to work out those kinks.