From funnel to flywheel

The funnel model, which has become an iconic explanatory model for the inbound process, has now been labelled as passé by its creator. The new thing? A model where the entire customer journey is a cycle. Say hello to Flywheel. 

Funnel is used as a tool to clearly define different steps during the buyer’s journey. Depending on where the target group is, you need to create different types of content and communication. The funnel also provides a good basis to measure and analyse the conversion progress.

Traditionally, the process of attracting prospects and nurturing them until the deal is closed has been divided between Marketing and Sales. They have been responsible for different parts of the buyer’s journey and passed on leads back and forth in order to speed up the process. For many organisations, the customer, who is the ultimate target, has therefore been a secondary matter. There has been a lack of follow-up and Delight.

The customers have changed and therefore also the model

We recently heard HubSpot’s CEO, Brian Halligan, speak at the big Inbound2018 trade fair. There he proclaimed: “The funnel is a broken metaphor we are using”. He further explained that during the period that the funnel ruled, 2006-2018, the marketers and sellers who used the model focused mainly on the Attract and Convert phases. According to Halligan, the most important phase, Delight, which is to take care of acquired customers, has been forgotten. Therefore, he and HubSpot are now redefining the funnel to put the customer and the customer experience at the centre.

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.

Stuck in the Funnel? We will help you!

Flywheel and funnel are different explanatory models and ways of thinking for how to structure marketing, sales and customer service. When flywheel takes over, it’s time to change your strategy to make sure your inbound work doesn’t slip behind.

We are happy to help you! Book a meeting with one of our Inbound experts and let them review the funnel you have today. You will then get help to start working on your Flywheel.