I remember the first time I learned about the value exchange - and how the very concept rocked my world and completely changed my career aspirations. I thought, "I want to do THAT kind of marketing".   And, a little more than a year later, I would.

I was in a hotel conference room in downtown Chicago, and I was there learning about digital and content marketing from an agency who worked with national brands to think digitally.  Even though I had only graduated from college 8 years prior, I had never learned anything remotely like this.  That's how quickly digital was changing back then.

Within 3 months of the conference, I had a new job.

I originally wrote this article on LinkedIn that year, and am now posting here, because it's still relevant to my clients and the work I now do everyday as a freelancer. Enjoy!

The most successful digital marketers make their mark designing mutually advantageous value exchanges, or trades, with potential customers that occur days, weeks, or months before purchase.  Think about it - you don't receive coupons for your favorite retailer in your mailbox without providing your name and address.  This isn't different from giving your cell number to Redbox in exchange for promo codes every weekend. It's just that one of these tactics is traditional and the other is digital.

The only difference is that in modern (i.e. digital) marketing, you MUST provide something of value for the audience's time and effort - there's no getting around it.  Think of this as a bartering system where you set the price - and based on results data, you adjust the "trade" over time.

If this sounds daunting, let's back up and take a look at the Value Exchange design process in 3 steps.

1. What could your prospects want?  Make a list.

Would they appreciate something entertaining? An opportunity to connect to a community or express themselves to their peers? How about convenience or information?  Something free or exclusive? Think of adding value directly into your communications, not just through them.

Whatever you do, fight the urge to mention your product in this list.  Remember, to design a successful digital value exchange, you have to be willing to think of potential customers as MORE than potential customers. They don't identify themselves that way, so why would you?

2. What might they offer you in return? Make a list.

Think about consumers at all stages of the path to purchase here - perhaps they only know your product name and nothing else. Or maybe they've tried your product and already know its benefits to their life.

The point is to identify what is valuable to you as a marketer - an email address, a mention/share on social media, a trial use, or a portion of time to hear your message are all acceptable answers.

Unless your product has a short path to purchase, an actual commerce transaction should not appear here.

3. Think about all the variables at play.  This step will refine your lists.

What's going on with your customers?  Perhaps the demographic is facing new health concerns, or their wallets were hit hard in the last year.

What's going on in the digital arena?  This is the point in the exercise where it's okay to look at what other brands are doing and what's hot and new online.

What's going on with my business?  You could be expanding your line or shifting your focus.  This seems like a difficult variable to miss, but if not thought about ahead of time, could lead to success metrics being off course.

Once you've completed these steps, there should be a handful of standout directions to get your brain juices flowing!  After you've crafted and have begun to execute your campaign, make sure to measure results, optimize, and measure again to fine tune your brand's new-found bartering skills.