Advantages of Using the Flywheel Model of Marketing
You have probably heard all about marketing and sales funnels. Funnels are nothing but mechanisms to convert leads into customers. And that’s it!
Funnels have been with us for nearly 100 years, and more has changed in the past 15 years than in the prior 85. The advent of social and mobile media put the power of decision-making into the hands of consumers. Social and mobile media put information into the hands and heads of today’s consumers, and it all happens at the frictionless speed of the internet.
So what’s left for a coach who seeks to grow a coaching business practice?
What you do next matters a lot!
With funnels dying on the vine, this is where the Flywheel Model comes into play!
One of the biggest and most essential advantages of using the Flywheel Model is that it helps focus your attention on enhancing a customer’s journey even after converting into a customer.
Nurture them from the first moment they become a fan until one day they become your customer, and they turn into subject matter experts (gain expertise in your product and/or service) and brand advocates.
The above Flywheel Model image illustrates how a customer sits in the center, or the heart of the wheel, and each of the focus areas represents how they’re propelled to become champions for the business.
The model also efficiently identifies friction causes in marketing, sales, and service. You can see which activities are propelling your flywheel faster, adding more and more momentum, or slowing you down and causing any hiccups or bumps.
And lastly, the model also details the impact of customer satisfaction on the success of your marketing strategy.
In short, our Practice Growth methodology is imagined as a process built with the marketing flywheel serving as the foundation, enabling you to reach, engage and nurture a community of raving fans and happy customers.