You've heard of the sales funnel, right? We're sure that as a business owner at some point you have! In case you haven't heard of it... The sales...read more
HubSpot CEO, Brian Halligan at #Inbound2018 broke down how the sales funnel model that our entire industry has been using is hurting us in the long run. There are cracks in the funnel that leak value for the customer which in turn slowly kills long-term sustainability potential. "Ye old funnel" as Brian calls it does not give the one critical thing your business needs to gives it's customers to be able to thrive in our current and future market, delight.
After Brian poked at the old model he revealed a new one, the Flywheel Model. This model takes the one-way methodology in marketing and turns it into a circle which gives it tremendous potential to be sustainable. This new circle method when compared to the one-way funnel method also gave way to new thoughts on how every aspect of your business operations effects your customers and how to move them into a place that is best for you and them. Here is the marketing flywheel model.
Each outer section of the flywheel represents an area in which any of your business operations can be in when it comes to interacting with your potential and current customers. Everything you do in business is either adding or taking away value in these three areas. In a perfect world your informative marketing campaigns on social media help attract people to your brand hubs like your website. The content on these hubs engages them in a way that they feel like they are valued and their problems are being addressed and they want to buy. After an experience with your products and or services their expectations are either met with delight which brings them back to you for more. This is the flywheel model cycle of growth. In the middle is your company whirling into a tornado of success. There are two factors at play speeding up the wheel and slowing it down: force and friction. The force that is spinning your marketing flywheel could be just about anything! A great product, marketing strategy, workflow, or even a person. The friction that is slowing down could be anything just as well! A bad product, a lack of strategy, a brokeflow, or even a person.
If you would like to discover your current flywheel model and chart out what your future flywheel looks like then go no further than this free downloadable we have made just for teams just like you!