Are you aware of what the flywheel is?

Written by Franco

Are you aware of what the flywheel is?

Blog » Are you aware of what the flywheel is?

The way things around us work is constantly changing, as consumers’ needs also change with great frequency.

This is when companies that sell products or services need to rethink how to execute the buying/selling processes.

Marketing is one of the areas undergoing the greatest process of change. And it is not for less, since it’s the one in charge of having direct contact with the target public.

So, when thinking about how to reach a greater number of people with effective marketing tools, the question of which one to use may arise. Nowadays there are many techniques in this area and each one has its function, but one of the ones you cannot overlook is the flywheel.  

Haven’t you heard about it yet? The marketing world has changed and if you want to emerge well from all those changes, you need to be aware of what this is.

Table of Content

What is flywheel?

Flywheel is presented as a new way of understanding marketing and the processes that are applied in the buying and selling of products.

For a long time, the marketing funnel has been talked about and applied, in which the processes were divided in such a way that the customer, as a factor to be taken into consideration, was at the end.

However, the way in which consumers make their purchases has changed and a new methodology is now needed to satisfy them correctly.

This is where the flywheel comes in, which is nothing more than a cycle based on the customer, where the figure of the customer becomes the most important of all.

The idea of moving from working with a funnel to using a cycle is based on the intention of using it to accumulate and release energy constantly. It’s presented as a wheel that refers to the energy efficiency mode.

Remember that anything that rolls is responsible for storing energy by constant movement.

So, the flywheel is presented as a constantly repeating cycle, in which every part is involved and whose essential engine is the figure of the consumer.

By making this change in the way business processes are understood, better decision making is achieved and a methodology is used that allows constant adaptation.

What are the stages of the flywheel model?

If you’ve never heard about it before, you may find it difficult to understand how it works.

So, in order for you to have all the ideas clear, you need to recognize the stages that are part of the flywheel model:

1. Attraction

As you may already know, marketing today bases most of its strategies on attracting new customers.

That’s why attracting the attention of consumers to make them buy from your business is something that is always present, even in the flywheel model.

Within this cycle, attraction is essential and involves the creation of all kinds of content that can be attractive to the target audience to capture their attention.

Of course, for this you have to think about: What would customers like to know, how would they like to be introduced to the products?

Today you can resort to many spaces, both physical and virtual, to achieve this first step, but above all, social networks, websites and blogs are becoming more relevant.

In order to stand out in this type of media, as you already know, you will need to work with effective keyword strategies and apply SEO correctly.

The idea is that the first phase encourages the customer to complete their purchase process with you by means of content that, in addition to being eye-catching, can also be useful to them.

2. Engagement

Now, if you’ve already captured the attention of your target customer, what’s next?

Create an engagement with them, not just so that they buy from you once, but so that you can have a long-term relationship.  

Why focus on getting a customer to buy from you just once if they can become a regular customer?

To achieve this, you need to work on improving customer service, offering personalized solutions and making the whole buying process much more enjoyable.

Similarly, you can work virtually by sending email campaigns, delivering e-books, offering free personalized content, and product demonstrations.

At this point, all departments of the company should work towards offering their customers everything they may need to create a long-term relationship.

3. Delight

Today, customer delight is also a very important factor. The happier they are when shopping, the more likely they are to want to return to your store or recommend it to others.

If you’re already working on good customer service to increase engagement, think about extra events that offer the customer a greater sense of delight.

It’s proven that our mind can store and enhance memories if they are accompanied by a positive emotional charge.

That’s why it’s recommended to think of experiences that will be pleasing to customers over time.

Based on this idea, business events can be planned for customers to present products or learn how they are made.

They can also be invited to participate in exclusive member groups that can receive unique and fresh content.

That way, not only do you offer them new things they might find interesting, but you let them know how important they are to your company.

What are the stages of the flywheel model?

So… How does it differ from the traditional funnel?

As mentioned at the beginning, until recently the basic strategy of marketing in general was to create a personalized funnel according to the company.

Just now, that has changed and a higher level of importance has been placed on working with the cycle as a primary focus.

But before we talk more about the flywheel, we need to recognize the basic differences that separate it from the conventional funnel.

First of all, we must recognize that, when working with the funnel, the figure of the customer is usually represented as passive. The customer is responsible for going through the marketing and sales processes until the purchase is completed.

And yes, no one is saying that the funnel is completely obsolete, because it is a great help to capture the attention of new customers every time.

But over the years it has been discovered that a great way to increase the profitability of any business is to create a loyal relationship with customers. What it boils down to is to make the same number of customers come back to buy from you again and again.

This is why, in view of this new way of understanding the marketing and sales process, the flywheel was born: a cycle in which customers are at the center of any type of business decision and are the ones who drive the fulfillment of strategies.

In this way, much more attention is paid to their needs and a satisfied customer is achieved, which will help to boost your sales.

What is the origin of the flywheel?

If you’ve come this far, you’re probably wondering: How is it possible that the marketing funnel is no longer so efficient for today’s age?

This is due to its way of understanding the sales process in a linear way, where only getting from point A to point B matters.

When you get to the end, nothing else happens, so all the energy you have invested in that process is wasted at the end point.

That is why the flywheel is based on the concept created by James Watt more than 200 years ago.

It’s a wheel that stores energy depending on how fast it is spun to make the wheel efficient on its own.

Marketing and customer service processes to make sales involve a large investment of energy on the part of human staff.

Therefore, moving from a linear to a cyclical view of this process allows you to harness that same energy to consistently meet business objectives.

In addition, by giving greater relevance to the customer, you understand the customer’s ability to help you grow and drive your business forward.

Therefore, by understanding this whole process in a cyclical way, you can feed back into the whole process to preserve it in the long term.

Why should you start working with flywheel?

If you are interested in providing your customers with a higher quality service and a higher level of satisfaction of their needs, you would do well to work with the flywheel model.

It‘s presented as a much more complete methodology to join forces to boost the growth of a business.

And all this, why? Because it gives more importance to what customers need, what they need to know and the attention they deserve.

In the same way, giving so much importance to consumers’ purchasing happiness is something that will help you turn them into a highly relevant promotional tool.

Every customer who is happy with their purchase is going to recommend it to someone else, be it a friend or family member.

In addition, if you have a strong presence on social networks and recommend it there, more internet users will hear about you.

Thanks to the way content creation on social networks has developed, consumers trust the opinion of someone who has tried the product more than what one of your promoters can tell them.

That’s why it’s so important to reinvent yourself and think about how to make customers an active and important part of any business process.

Benefits of using the flywheel model

Just in case the high level of flywheel functionality is not yet clear to you, here is a list of its main business benefits:

  • You increase the loyalty of all your customers.
  • You avoid losing opportunities to reach potential customers.
  • You will have a group of satisfied customers that will help you reach a larger number of people.
  • You will be able to make better business decisions based on the opinion of your frequent customers.
  • You will improve the efficiency of all business processes.
  • You will have a better image and reputation for new customers.
  • You will increase the short and long term profitability of your business idea.

Benefits of using the flywheel model

Undoubtedly, seeing the task of marketing from a new perspective in which the customer becomes more relevant is something that will bring you many benefits. Both in the long and short term.

Improving the shopping experience of your users is something that will be of enormous help for getting them to come back to your business more than once.

And at the end of the day, isn’t this the goal that every business should be pursuing?

Now that you know more about it, you are much more prepared for its application.

So leave us a comment with your thoughts and let us know if this is something you’d like to use with your company.

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