Home Digital Marketing What Is Marketing Flywheel: A New Growth Model

What Is Marketing Flywheel: A New Growth Model

By Aman Bhati

6 min

April 26, 2024

Do you know what keeps your business running in motion? Is it the business process, automation, clear communication, or something else? If you are perplexed with questions like “What is marketing flywheel?” or “What should I choose between funnel and flywheel models?” This blog is for you.

If you opt for any of the options mentioned earlier, you should reconsider!

It’s a delighted customer. A customer drives a business and is the most significant driving force that can keep your business running.

In this ever-evolving marketing landscape, buying patterns have changed drastically, and in the same way, companies have changed their approaches to meet the needs, wants, and demands of their prospects or customers.

In today’s world of technological advancements, customers browse product reviews and customer testimonials before clicking the ‘buy now’ button. According to a report, 92% of Americans read reviews before purchasing.

Considering this fact, businesses have shifted from outbound marketing to inbound marketing to persuade customers. Inbound marketing strategies like the flywheel approach are becoming increasingly popular.

Marketing flywheel enables businesses to create customer-centric strategies to persuade and empower customers to push their flywheel and encourage word-of-mouth publicity or advocacy.

This blog post helps you learn more about the marketing flywheel approach and how you can take your business to the next level with their help.

Let’s begin:

What Is Marketing Flywheel?

Marketing Flywheel is a relatively new inbound marketing approach that keeps customers at the center of marketing and sales efforts. A customer becomes the momentum that propels the business forward.

It has the following spokes:

Attract

This talks about attracting quality leads with the help of compelling and engaging content in the form of articles, social media content, and blogs.

Engage

This flywheel section focuses on engaging with and nurturing leads to foster trust and convert them into brand-loyal customers. It includes focusing on conversion rate optimization techniques and email marketing.

Delight

This section of the marketing flywheel talks about delighting a customer by offering products that interest him. It includes offering various loyalty programs, customer retention strategies, and multiple customer value-adding options.

Flywheel enables you to prioritize the customer experience to build a circular process that may convert your customers into brand advocates who can bring new leads to your business.

Marketing Flywheel focuses on building long-term customer relationships instead of short-term benefits.

Sales Funnel VS. Marketing Flywheel: Which Approach Is More Productive?

The sales funnel versus the marketing flywheel is an important question to answer. However, the marketing flywheel is more proficient than the latter.

A critical difference between these two approaches is that Flywheel considers customer satisfaction and loyalty paramount to sustainable business growth. A happy customer drives businesses through referrals, reviews, and recommendations. The sales funnel comprises the top of the funnel (ToFu), middle of the funnel (MoFu), and bottom of the funnel (BoFu).

This approach creates a positive customer experience at every step of the process. On the contrary, the sales funnel is focused on linearly moving a customer from awareness about the product to purchase.

Additionally, the flywheel approach is more dynamic than the funnel approach. Each stage of the process is interconnected and is more iterative. It can easily persuade a lead and convert it into a customer. The funnel follows a linear path, and the chances narrow at every stage.

Flywheel improves the overall business processes and fine-tunes their way of approaching customers based on customer feedback and evolving market conditions.

In a nutshell, the flywheel approach is more customer-centric and holistic in building a successful business model. Top-of-funnel marketing tactics can yield good results, but the flywheel approach is unparalleled.

How Can a Successful Flywheel Model for Exponential Growth Be Built?

Ask for leaving reviews:

If you think a customer is happy with the purchase and shopping experience, ask him to leave you a positive review. It may help you spread word-of-mouth publicity and influence others to purchase from the same shopping point of view.

A delighted customer is more likely to leave positive reviews. It may help others learn about your products and influence them to purchase or return as repeat customers.

Remove friction:

Focus on multiple ways to remove friction from your internal sales process. It spins the flywheel faster and builds momentum, leading to smooth and sustainable growth.

The momentum in your flywheel depends on the following factors, including:

How big is your flywheel?
How fast your flywheel spins.
How much friction does it have?

Businesses with sustainable growth address these critical challenges while building their flywheel model. If you want to increase your flywheel’s speed, add more force to influence your business. Adding force means using different strategies to improve customer satisfaction, which may include the following:

Inbound marketing practices.
Freemium model.
Customer referral program.
Value-adding Newsletters.
More add-ons.
Easy payment options.

Any Successful Use Case of Marketing Flywheel?

One of the most successful companies that has used the flywheel business model is Amazon. It was Amazon and Jeff Bezos who used the flywheel model for the first time in business, based on the critical advice of former professor Jim Collins.

Amazon used the following methods to pioneer customer satisfaction that worked wonders for their sales and revenue maximization:

The most essential approach Amazon followed was considering the customer experience as the most crucial aspect of their business. The entire team at Amazon knows that a good customer experience can drive significantly more traffic to their website and eventually result in more sales and positive reviews on the platforms. These reviews recommend that others consider Amazon as their preferred online shopping platform.

More sales on Amazon lured more vendors to list their products on the portal, eventually lowering the cost to emphasize the customer experience. It resulted in repeated sales and more profits.

This approach helped Amazon experience exponential growth. As a result, Amazon started using this approach in all its go-to-market projects to maximize profits and sustainable development.

Why Should Businesses Use a Marketing Flywheel Approach?

The marketing flywheel approach is one of the most promising inbound marketing approaches that businesses should use to enhance customer satisfaction and deliver an exceptional customer experience in the sales process.

If you are not sure why to consider it over the traditional funnel approach, give the following pointers a read:

1. Qualified Leads:

The marketing flywheel approach keeps the customer at the center of everything. The customer and their experience surround every action you take. Consequently, this will make him feel important and may lead to more referrals to the business.

When the lead considers purchasing any service or product, he tells his friends and acquaintances about his experience with the company. With customer-centric activities and providing the best experience, you help them recall your business and are more likely to get a referral.

2. Improved team collaborations:

The sales funnel causes a confusing experience in the process as different people interact with each other at various levels. For instance, someone from the product management team must interact with the marketing team at one stage and the QA team at another.

On the contrary, the flywheel model enables all the teams to stay in touch at every step of the process. The marketing flywheel approach removes all the silos, reduces the friction that may create hiccups for customers, and creates a more cohesive experience.

3. Maintained loyal customers:

A marketing flywheel approach can help you retain loyal customers. It costs less to keep more loyal customers than to widen your customer base. Hence, businesses should consider a flywheel approach rather than the traditional sales funnel.

The marketing flywheel approach helps you with higher retention and a better return on investment (ROI) for your marketing strategies.

The Final Thought:

Sales and marketing are ever-evolving and dynamic landscapes. The buying patterns and consumer behavior change rapidly. Thus, it is significant to understand this changing pattern and adapt to offer solutions that meet customer needs, wants, and demands.

As a new and fresh addition to the marketing and sales landscape, the marketing flywheel approach has embraced the market and delivered phenomenal outcomes. In the sales funnel versus marketing flywheel debate, it has emerged as the clear winner.

If you need help regarding quality business solutions or want to understand what marketing flywheel is, feel free to connect with TRooInbound. We are a one-stop solution to all your business needs and can resolve queries.

Stay tuned for more updates on such topics to keep you updated.

Switch From Conversion Funnel To Flywheel

Public Relations As Inbound Marketing

What Is Marketing Flywheel?
Sales Funnel VS. Marketing Flywheel
How Can a Successful Flywheel Model for Exponential Growth Be Built?
Any Successful Use Case of Marketing Flywheel?
Why Should Businesses Use a Marketing Flywheel Approach?
The Final Thought

Switch From Conversion Funnel To Flywheel

Public Relations As Inbound Marketing

Aman Bhati

Aman Bhati is a Digital Marketing Manager, possesses a diverse range of skills and knowledge to effectively tackle a broad spectrum of digital marketing challenges. His expertise extends from the development of project strategies and timelines to the optimization of website design and content, conducting comprehensive market research, and efficiently setting up and managing paid advertising campaigns.

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What Is Marketing Flywheel: A New Growth Model