Flywheel model
The Flywheel model is a marketing model based on circular thinking and action during all contact moments with a customer. Ensuring satisfied customers is the primary objective here. The underlying idea of this flywheel model is that these satisfied customers become ambassadors which will attract new business.
The application of Hubspot 's Flywheel model uses a vicious circle in which the consumer clearly plays a central role. Here a clear phase structure can be distinguished. After all, in the Flywheel model, the optimal customer experience is driven by a perfect harmony between the marketing, sales and service team.
Every interaction with the customer, from the very first website visit to the contact moments with the support person long after the purchase, determines the image the consumer has of the organization and how this image is translated to others. It is precisely this last point that is key to the success of the Flywheel model.
Difference between the funnel model and the Flywheel model
In several ways, the Flywheel model distances itself from the traditional marketing funnel that is frequently used.
The main difference is that the funnel model is almost entirely focused on attracting new customers. The original funnel is linear, short-term and top-down focused. In this case, it involves a temporary investment in a potential customer. Therefore, the funnel model involves a recurring investment.
The focus of the Flywheel model is clearly on improving existing customer relationships. Instead of one-way traffic, there is thus a circular approach. This involves an investment that should pay for itself at several points in time.
In this case, investments are made primarily in software and tools that contribute to the ultimate interactive customer experience. As a result, strangers become prospects and then become customers. The goal here is to offer these people such a good experience that they feel connected to the company and eventually become active promoters.
3 phases of the Flywheel model
Three distinct phases can be identified within the Flywheel model:
- During the attraction phase, the emphasis is on obtaining new prospects.
By actively approaching this group, quality leads are formed. By providing value to the visitors, they can be transformed into leads. In this case, the flywheel will start turning. - The engage phase focuses on turning leads into customers in the most effective way possible. It is important to continue to provide value to prospects. This way, this group of people can learn about a product or service in a relatively low-threshold manner.
- The delight phase aims to create the Wow effect among the group of existing customers. This can be realized by offering excellent personal service. By properly executing this delight phase, the difference with the competition can be made. By creating this perfect customer experience, there is a chance that they will remain customers longer, purchase more products and/or services and recommend a company to others. Precisely the latter is the intended effect of the Flywheel model.
