The Flywheel

How moving from the funnel to a flywheel drives business growth and customer delight

What Is a Flywheel?

Picture a huge, heavy flywheel- a massive metal disk mounted horizontally on an axle, about 30 feet in diameter, 2 feet thick, and weighing about 5,000 pounds. Now imagine that your task is to get the flywheel rotating on the axle as fast and long as possible.Pushing with great effort, you get the flywheel to inch forward, moving almost imperceptibly at first. You keep pushing and, after two or three hours of persistent effort, you get the flywheel to complete one entire turn.Then, at some point—breakthrough! The momentum of the thing kicks in in your favor, hurling the flywheel forward, turn after turn . . . whoosh! . . . its own heavy weight working for you.

- Good to Great. 

 

Now, think about your business as a flywheel. Flywheel is a circular process where customers feed growth. This is why we put the customers at the center of the flywheel. Happy customers are the energy that fuel the growth. The rotation of the wheel is the growth of your business. 

Happy customers are the energy that fuel the growth.

The Funnel vs. the Flywheel

Time has changed, technology has progressed, and so has the way customers interact with brands. It used to be the best product win, now, it’s the best customer experience wins. We believe there are better ways for brands to connect with your customers, and vice versa.

With the traditional funnel, companies put a great deal of effort into acquiring more leads. The wider the funnel, the more potential sales it will result in. However, with the funnel, customers’ role  are not taken into consideration and you lose that momentum at the bottom. Whereas flywheels keep that momentum spinning. And all the strategies you implemented are the force to spin your wheel. Instead of closing the funnel, you should focus on delighting the loop.

Factors Influence the Health of Your Flywheel

How fast you spin it

How much friction there is

How big it is

Adjusting your business strategy to address all three factors will result in an overall accumulation of effort that will help move your flywheel in a consistent direction.

Remember, a flywheel gains strength from forces you apply. You would need to identify all the forces you can leverage across each phases and determine how to apply them to maximize your customer delight. 

In the meanwhile, you should pay close attention to areas where frictions may occur. The less friction there is, the faster the flywheel spins. The faster the flywheel spins, the more you will create promoters. 

Attract, Engage, and Delight

A flywheel is similar to a marketing funnel where there are phases a customer goes through in the customer journey. The phases are- attract, engage and delight.

Attract- Provide value to your customer before you extract value from them.

Engage- Make it easy to shop and buy, which includes providing solutions, education and personalized customer service throughout the buyer process.

Delight- Customer success is your success. You should focus on building a relationship with your customer as they will eventually become your promoters and spin your wheel for you.

Engage

Attract

Delight

Customer

Customer Experience Is More Important Than Ever

If you genuinely help your customers, then they will naturally drive more people to your business for you. Just think of it from a customer’s perspective. Do you trust a company selling their product or a paying customer giving their honest review?

Regardless of what your company sells or makes, your customers are looking for that sublime experience when they do business with you. Flywheel may sound like another marketing jargon. But at the end of the day, it’s a simple concept- to put your customer in the center of your business and value relationships, not just deals.