Most of us in marketing are probably familiar with the term “marketing funnel.” The funnel represents a buyer’s journey from prospect to customer, and has paved the way as an outline of that process in the marketing world since the start of the 20th century. The funnel displays the four major steps throughout the process from prospect to customer, which are as follows: 1) At the top of the funnel lies awareness, which is when the prospect becomes aware of their problem and potential solutions. 2) Then comes interest, where the prospect begins to research a particular group of products or services to help solve their problem. 3) Next is desire, where the prospect shows specified interest in a particular brand or product and evaluates whether or not it meets their needs. 4) Finally comes action, when the prospect makes a decision on whether or not to become a customer, and purchase that brand or product to meet their needs.
While a tried and true simplification of the journey from prospect to customer, the funnel leaves out a crucial final step: turning that customer into an advertiser. With word–of–mouth advertising being one of the most powerful marketing tools, it’s important to focus not only on drawing in new customers, but equipping them to be advocates for your brand as well. Enter the flywheel: a marketing model similar to the funnel in its ideas, but advanced to align your organization around customer experience. The flywheel is shaped exactly like its name, with three different circles inside the entire wheel. Circled in the outside layer are strangers, prospects, customers, and promoters. Inside the second circle are the three phases of the flywheel: attract, engage, and delight. Finally, in the middle circle lies growth, which is the end result after following this new and innovative model.
The way the flywheel works imitates a traditional pinwheel: applying forces to make the wheel spin and function like a successful business. Applying force comes in many different forms, some of the most popular being paid advertising, inbound marketing, customer referral programs, and investing in your own team. A successful flywheel must also remove any possible friction, which can appear in the form of slow or outdated internal processes or a lack of communication between employees. Once all aspects of the flywheel are functioning smoothly, results will flow in as customers turn into promoters.
Here at J.O., we know that the decision making process for prospective clients is more difficult than ever before. Instead of the traditional funnel process—laying options out on the table and evaluating optional brands—it’s now a game of comparison like never before. People are talking to their friends, consulting their networks, and doing deep–dives on company reviews before coming to a final decision. That’s why we make it our mission to bring the flywheel effect to you: our marketing solutions transform prospects into customers, and customers into brand ambassadors.