If you love most marketers, you can name the basics of the sales funnel in your sleep: awareness, interest, evaluation, decision and purchase.
Of course, companies have fine-tuned the model over the years, adding additional steps, etc., but the basic principle has remained the same. But the model poses a problem: it is the opposite of the customer centric. In fact, in the traditional sales funnel, leads are treated a lot like uniform widgets moving along a treadmill, with various things that happened to them along the way.
The problem is, if you're not customer centric, your marketing efforts may be in vain. If we had pennies for every brilliant content strategy that seemed to explode in engagement while producing a measurable return on investment (or even zero), we would have more than a piggy bank full of changes.
The customer's focus on your sales model changes, however, as it now directs all content and marketing efforts, not the other way around. In this piece we will explain a new sales model. Maybe in the end you'll be like us: you fall in love with the funnel – and love the flywheel.
Like its predecessor, the Funnel, a flywheel is not only a metaphor, but also a real tool that powers multiple modern inventions. Invented by James Watt of the fame of the bulbs, the steering wheel is a disc or wheel around an axis. It has various industrial applications and can be found in car engines, ships and many other places where energy has to be generated, amplified, stored and stabilized.
The flying effect, described by Jim Collins in his book, Good to Great describes a massive 5,000-pound metal disk mounted horizontally on an axle. He asks the reader to imagine pushing him so that he turns around that axis. At first, it is extremely difficult to move. But with each push, it becomes slightly easier and the steering wheel starts to pick up speed. Collins writes:
Then, at some point – a breakthrough! The momentum of the thing gets in your favor, throwing the wheel of inertia forward, turn after turn … whoosh! … His own heavyweight works for you. You do not push harder than at the first spin, but the flywheel goes faster and faster. Each turn of the flywheel builds on the work done earlier, increasing your investment in effort. A thousand times faster, then ten thousand, then one hundred thousand. The huge heavy disc flies forward, with almost unstoppable momentum.
This is an excellent marketing metaphor. Because this dynamic is not the product of a simple push. Instead, the energy is cumulative, generated by many small outbreaks, all of which is greater than the sum of its parts.
Ideally, marketing and sales should work the same way. The energy, leads, and revenue generated by marketing efforts do not come from a single channel, content item, or campaign; it is a cumulative effect. And once this really begins, a good marketing campaign continues to turn. This generates energy.
Put the customer in the center
Instead of a funnel in which potential customers are thrown away unceremoniously, the flywheel places the customer in the center of the wheel: the axle.
Hubspot President and CEO Brian Halligan for example, sees the customer as the hub, with the actual flywheel divided into three equal segments, each representing stages of the customer journey: attracting, engage and delight. Each zone creates energy and transmits it to the next, with the rapture phase returned in attract.
Other flywheelers divide the disk into Marketing, Sales and Service – which still places the customer in the center. Each effort is reflected in the next, circulates in circles, but always revolves around the client.
This is perhaps the most important aspect of the flywheel model: it centers the customer. The funnel, on the other hand, does not examine how these customers can eat in the funnel (or the steering wheel) to create additional growth and commitment.
The funnel is not conceivable for customers who buy more than once. The impulse you create by buying customers through the funnel fades. After each quarter, each customer, each conversion, you start again.
Learning to fly
The momentum of a flywheel is determined by three main elements:
The weight of the wheel
With a physical flywheel, the greater its mass, the greater its momentum is and the harder it is to stop it. In the customer-centric model, "weight" is like an exceptional customer service experience that builds your reputation and brand to create retention, create ambassadors, and add value to your marketing and marketing segments. of sale. The way you deliver this customer experience will be unique to your business model.
How fast do you turn it
The speed in the steering wheel model actually depends on the number of "thrusts" you give at the wheel. What content is provided by your marketing team? Which channels do you use to reach your prospects? How many tracks come from the content?
Reduce driving friction, this is to ensure that customers remain satisfied and that your efforts remain aligned. If poor business performance slows the marketing momentum – or if a bad service harms the maintenance of hard-earned sales – your flywheel will slow down and your business will suffer. On the other hand, when everything is aligned, your efforts will feed into each other and make sure your flywheel continues to buzz.
Finding Alignment and Purpose
It is one thing to develop one model and another to align interorganizational efforts in real life. It is part of the search for alignment that is cultural: leadership must be accepted and coordinate communication between departments. But much of the elevator needs to be operational – and will depend on a technology to coordinate marketing, sales and service activities.
At CallTrackingMetrics (CTM), we've been thinking about this for quite some time now, although we've only recently discovered the flying model. Our management and call-appeal platform brings together the three segments of the wheel: marketing, sales and service.
It monitors call sources, allows agents to mark and log calls, helps companies respond immediately to information requests, and provides a data-rich environment that can inform stakeholders about marketing, sales and service performance. It also allows you to create reports to determine the return on content and campaign investment, customer feedback, and more. In short, it facilitates the understanding and the engagement of the customers in a significant and useful way.
This commitment counts. A lot. In the end, marketing and sales are about creating better experiences throughout your customer journey. And the funnel model has never recognized the important role that customer service teams play in creating customer retention, building the brand, as well as in developing relationships and improving customer service. • Stronger alignment between your company and your customers, as well as within disparate teams within your organization.
In the end, the flywheel ensures that all members of your company share the same goal: to turn the flywheel, to create better relationships and experiences for your business. customers. As difficult as it may seem at first, once the flywheel gains ground and sales begin to turn, the effort is well worth the effort.
About the author
CallTrackingMetrics provides thousands of businesses with the tools they need to track, manage and optimize phone calls to increase conversions and scale to growth worldwide. From understanding advertising campaigns that generate phone calls to advanced routing and call management, we give businesses and agencies the tools they need to turn communication into powerful intelligence.