Identify how to create value for your customers
The Value Stream Discovery (VSD) template helps you define what business activities you must undertake in order to create value, while facing uncertainty. Whether you are enhancing current solutions or moving into new spaces, it helps you track and measure progress towards creating passionate customers by identifying bottlenecks and the right metrics and data to overcome them to help you make decisions with a high level of confidence.
The benefit of taking the customer all the way to passionate is the upside flywheel effect. Loyal promoters purchase more, stay longer, use more offerings, recommend to others, help co-create new offerings, and have more forgiveness when things go wrong (to a point).
The fundamental idea is this:
To be successful, you must move your customer from first being aware of the value you are creating, to being passionate about it.
The customer will go through a progression of stages (journey) getting from aware to passionate.
The business must “do stuff” (create marketing campaign, design new solution, enhance current solution, facilitate referrals, etc.,) to move customers along the progression.
For each thing the business does, the customer will behave in a specific way.
You must measure the behavior.
Where should you focus: The value stream discovery loop meets you where you are. In other words, if you already have satisfied customers, you focus on discovering what is necessary to build passion or if you have customers that trust you but are not purchasing your solution, you start with convinced.
Mural is the only platform that offers both a shared workspace and training on the LUMA System™, a practical way to collaborate that anyone can learn and apply.
