Over on our social media channels this week we have been disussing the flywheel marketing model and what that means to businesses. Its a model that completely steers away from the traditional funnel shaped model by putting the customer at the centre of the focus.
Before we go on to unpick exactly how the flywheel works its probably worthwhile taking a look at the sales funnel approach.
The traditional funnel is very much a linear approach that aims to attract prospects into the funnel, to then convert a lead with the end result being the customer at the bottom. Once this funnel is complete the customer drops out of the funnel and the process starts again to attract new prospects.
The challenge with the sales funnel model is that each time a funnel ends you need to use more energy to begin again. This can be labour intensive.
However its important to note that the funnel IS a critical tool in measuring new business and how you acquire that business.
The flywheel model completely reimagines the funnel by removing the customer from the bottom of the cycle and placing them at the very centre. Surrounding the customer is a spinning wheel based on three elements.. to ATTRACT your prospects, to ENGAGE your clients and to DELIGHT your promoters. These three elements together make the wheel spin.
By removing as many friction points along the way as possible the wheel is able to spin faster, build momentum and, more importantly, able to store energy.
The flywheel is the overarching methodology for how your customers experience your company. If you get it right your customers become your biggest marketing tool.
In todays video we unpick the flywheel model further and explain in real terms what you can be doing practically to attract, engage and delight your own audience.
Do be sure to leave us a little thumbs up if it resonates with you and do feel free to comment on whether you prefer the funnel or flywheel approach. If you haven’t yet done so why don’t you subscribe to our Yellow Tuxedo YouTube channel to stay up to date with all of our latest video training.
As always if you have any questions do be sure to chat to a member of our team, we’re always happy to talk things through with you
Have a tip top day and be sure to let us know in the comments how you get on.
Emily x