What is Flywheel?
Flywheel is a visualisation of a cycle where the customers are at the centre of the business. The model is central to explaining Inbound Marketing. The idea with Flywheel is that when the customer is at the centre, the organisation focuses on growing by retaining customers and making them happy. The funnel thinking means that a lot of time and effort is invested in getting new business.
However, if customers experience a difference in what has been sold and what they receive, i.e., the relationship building stops once the deal is signed, they run a high risk of leaving and much of the hard work is therefore lost. Focus on customer satisfaction and retention, i.e., keeping existing customers, turns them into ambassadors who will help your company grow. Remove friction. Make it easy for them to buy, buy again, get customer service and to end a service if they are not satisfied. Rumours spread, and like viral videos on the internet, they spread like wildfire. Keep in mind that Word-of-Mouth is often a first encounter between new leads and your business.
So, what are you waiting for? You have to think differently. You need to focus on making your customers happy. You need to start thinking Flywheel.