A new era is here... the flywheel.
Currently, trust in media advertising, what you read, see on the internet and sales and marketing is at an all-time low. With all of the options out there, consumers are hesitant about who to believe. Because confidence is low, delighting your prospects from the very first interaction to your last, is a necessity to ensure a positive customer experience.
The old sales funnels focused mainly on taking prospects through the sales cycle, but didn’t take feelings, retention or post-sale into consideration. That funnel excelled at assisting companies with streamlining their sales process from the awareness stage all the way to signing on the dotted line, but we understand the sales cycle is more than a contract, it's about the relationship. Now, it’s time to say goodbye to the funnel methodology of focusing on growing how you market and highlight what’s most important…the customer experience. The new and improved methodology is now in flywheel form and focuses heavily on customers’ experience, using it to attract, engage and delight customers, every step of the way. According to Forbes, customer experience is best described as the perception customers have of your brand. In fact, "Delivering exceptional customer experience is critical to your business. When you get it right, you increase revenue and retain more customers by building a brand reputation that they trust." If we focus our energy on customer experience, the growth will follow seamlessly.
HubSpot introduced this marketing concept at the annual Inbound Conference in September and according to HubSpot Founder Brian Halligan, “we’re in a big era shift,” which is why the new flywheel concept is so important. The flywheel has four parts:
Attract - Educating prospects, strangers and even clients with thought leadership pieces and resources, helping eliminating barriers they face
Engage - Building relationships that actually focus on the customers terms, wants and needs
Delight - Shifting resources and direction to tie your business’ success to your customers’ success, because ultimately, customer success drives yours
Customers - Customers are placed in the middle of the funnel because customer experience is what makes the business world go ‘round. Helping customers meet their goals will help fuel growth for their business and yours.
“We’re moving from an era where we created a funnel and filled it with friction to an era where — if you want to win and have a delightful customer experience — a flywheel can ease that friction,” said Halligan.
Providing the best customer experience is what wins business in the end. It will help establish relationships with new prospects and will strengthen and retain your current customer relationships. Will you get behind the flywheel or stay stuck in the past with the sales funnel?
For more on this new concept, read HubSpot’s article INBOUND 2018: HubSpot Unveils Flywheel Framework To Better Attract, Engage & Delight Buyers