What is Flywheel Marketing and how has this concept changed Inbound Marketing – WAU
Is the sales funnel dead? That’s the big news that runs through the marketing corridors. A new technique that expands the function of our famous funnel has emerged. If you want to know what it is, keep reading.
Flywheel Marketing seems to have come to the world of marketing to stay. In fact, many experts consider it a replacement for the famous sales funnel. That’s why we think it would be perfect for you, who are always looking to increase your sales, to know the details of this technique.
We prepared this post so that you can learn all about this new way of attracting customers and apply it in your enterprise. Come on!
What is Flywheel Marketing
It is a new concept that approaches marketing and sales from a different perspective than traditional ones, focusing much more on user loyalty.
Because of this, instead of a funnel shape, it has a circular shape, to strengthen the idea that it is an endless cycle.
This is exactly what Flywheel means: rotation wheel. It is the circular gear that powers a machine.
In this case the steering wheel is made up of attraction, engagement and user experience, with the emphasis on the user experience phase.
If you look closely, it’s great to attract your customer, interact with them and give them a memorable experience, which, in turn, attracts new customers and thus the cycle repeats itself. By privileging the experience phase, you are able to attract and retain at the same time.
Why Flywheel Marketing came about
Flywheel Marketing was born to overcome the reach of the sales funnel, following and making visible the interaction between the user and the brands from the beginning.
This makes the customer’s life cycle continuous and sustainable, something that any company should be concerned about.
Flywheel is an ideal tool to accompany customers from the moment they know a brand and, especially, after purchase, to motivate them to purchase new products or services.
In addition, the fundamental principle of this trend is to use the information that emerges from the interaction processes to offer better experiences to consumers and, consequently, captivate them.
Now that you know what Flywheel Marketing is and why it came about, it is vitally important that you understand how it has changed Inbound Marketing.
What are the impacts of Flywheel on Inbound Marketing
Inbound Marketing is constantly evolving, due to its close relationship with the user experience. Within this context, the following changes have emerged.
1. There is no more end point
Undoubtedly, this is the big change that caused the birth of the Flywheel in Inbound Marketing strategies.
Before, the final point was considered when a user acquired a certain product or service, since the purpose of this methodology was to take him to this conversion.
Now, Inbound has become a continuous cycle that, in addition to attracting, tries to captivate customers already won.
2. Proactive and aggressive retention initiatives
As a continuous cycle never ends, Marketing Flywheel is especially concerned with post-purchase stages.
Therefore, this strategy suggests that there is a continuous and effective interaction with current customers to build customer loyalty and, thus, motivate them to buy again.
It can be said that, although the sales funnel principle also serves to retain users, since it makes them approach brands in an organic way, Flywheel Marketing is much more proactive and “aggressive” in retention initiatives and consumer delight.
3. Strength is the real opportunity
Previously, obtaining leads was considered the major driver of Inbound Marketing strategies.
When a user shares their contact information, it is much easier to reach them and motivate them to make a purchase.
However, Flywheel Marketing goes much further. For this strategy, the real difference is to generate enough strength to turn the wheel that gives life to the business. The wheel of the interaction cycle between the consumer and the brand.
To achieve this, each step supports the other. We attract leads, generate interaction dynamics to engage them and provide a memorable experience.
This attracts old and new customers, and so on: customers will constantly increase and buy.
How is it possible to achieve this circular “strength”? Precisely, prioritizing user experience, because the buying force is in the customer.
Now let’s see some practices of this technique!
What actions are promoted by Flywheel Marketing
One of the principles of this trend is that friction, a term that encompasses everything that causes dissatisfaction in the customer, causes the force to be lost and, consequently, the wheel stops spinning, shortening the customer’s life cycle.
To avoid friction, Flywheel uses 3 practices that we will analyze in the next lines.
Automation of service processes
Automation is today one of the great allies of the business world, and the Flywheel was born in the midst of this reality.
Therefore, this strategy seeks to implement it in the customer service processes to make them more agile and accurate, avoiding friction and inconvenience between users and employees.
Fortunately, there are many ways and mechanisms to offer automated customer service, such as chatbots, after-sales email or satisfaction surveys.
And, best of all, this type of technological tool ensures that there is 24-hour service.
Constant information gathering of interactive processes
What we also know as personalization. Standardization can affect the customer experience. Flywheel collects accurate and real data from the current customer to improve overall interaction and experience.
For this reason, it is common practice in Inbound Marketing strategies, influenced by the Flywheel, to constantly collect information to personalize promotions, content and other forms of communication.
In addition to trying to get to know customers in order to optimize mechanisms and satisfy them, Flywheel Marketing is committed to promoting self-service.
When a user can define a product or service based on their needs, the chances of attrition are much less.
As you can see, thanks to this technique, it is much more feasible for the customer’s life cycles to be prolonged and sustainable. In addition, it helps you to differentiate yourself from the competition, as, on the way to optimize the customer experience, values are added that serve as a trademark for your brand.
Were the tips helpful? We hope so! And that with them you can turn the wheel of your business more strongly. If you want to become an expert on the subject, download our e-book on Inbound Marketing!
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