What Is Flywheel Marketing?
Flywheel Marketing
Flywheel marketing is an inbound marketing strategy that places customers at the center of your marketing efforts. Your customers then become the momentum or mechanical energy that drives your business forward.
The marketing flywheel has three spokes:
- Attract: Attract leads with engaging, helpful content.
- Engage: Engage and nurture your leads to foster trust and convert them into customers.
- Delight: Delight your customers by continuing to market products of interest to them.
Why should you use flywheel marketing?
It helps you earn more qualified leads
With flywheel marketing, the customer or client is at the center of focus. Every marketing action you take focuses on delivering the best experience for them, so they’ll refer others to your business.
It helps build interaction with your entire team at once
With the flywheel model, all team members interact with the prospect at every part of the cycle. It creates a more cohesive experience that pushes people through the cycle.
It helps you maintain loyal customers
the flywheel marketing setup helps you maintain loyal customers. Retaining loyal customers is critical because it costs less to keep loyal customers than to obtain new ones. If you think about it, these prospects already showed interest in your business by purchasing your products!
How to Take a Flywheel Approach
Shift Your Resources
Chances are you have a huge pile of created digital content. We’re talking about the blog posts, ebooks, case studies, webinars, and email sequences already in your company’s archives.
Good news: you don’t have to scrap these materials! You simply have to repurpose them.
For example, maybe your case studies gated. Instead of requiring an email address for access, you might try posting them on the company blog for anyone to read—in other words, reassigning a typical piece of Conversion stage content (in funnel-speak) to the Engage stage of your new flywheel strategy.
Apply Strategic Force
The flywheel method is based on two main tenants: applying strategic force and eliminating unwanted friction. We’ll focus on force first.
Mechanical flywheels require force to get going. They need something (or someone) to provide an initial burst of momentum or they’ll never move. Your marketing flywheel is the same, except that the force you apply will be aimed at attracting, engaging, and delighting your audience.
Identify the areas within your marketing and sales efforts that warrant the application of force.
Eliminate Friction
Friction is the arch-enemy of the marketing flywheel. It can take the form of low conversion rates, high churn figures, and poor customer experiences due to siloed company departments.
Your job is to investigate your company and identify any areas of friction. Then eliminate them.
It’s easy to evaluate your conversion and churn rates. Simply take a look at your company analytics dashboard and record what it tells you. Discovering customer experience issues is trickier, but can be accomplished by reading through customer complaint messages.
Once you’ve identified any and all areas of friction in your organization, you need to remove—or at least reduce—them to the best of your ability. Here are some tips to help you:
- Use Automation Tools: When all company processes are dependent on humans, mistakes are easily made. Try to automate repetitive and complex tasks so that both employee and customer experiences are enhanced.
- Align Departmental Goals: If sales and marketing teams are at cross-purposes, your marketing flywheel will always have friction. Make sure all departments are on the same page and working towards the same goals at all times.
- Create New Content: Sometimes friction occurs because audiences don’t have the materials they need. Create content pieces that streamline the buying process and/or educate customers on proper product use.