The sales funnel, a traditional model for mapping out the customer journey, has been a staple of sales and marketing for decades. However, the world has changed dramatically in recent years, and the old ways of doing things no longer work. In this article, we’ll explain why the sales funnel is dead and what you can do instead to increase your sales and grow your business.
The Problem with the Sales Funnel
The sales funnel assumes that every customer follows a linear path, starting with awareness and ending with a purchase. However, this is no longer the case. Customers today are more informed than ever before, and they have a wealth of information at their fingertips. They can research products, read reviews, and compare prices all without ever interacting with a salesperson.
The New Reality: The Customer Journey is Non-Linear
In the past, marketers could count on a relatively predictable path to purchase. However, in today’s world, customers take a non-linear journey. They may start with awareness, but they can jump to consideration, evaluation, or even purchase at any time. This means that marketers need to be present at every stage of the journey, providing information and support as needed.
The Solution: The Flywheel Model
To succeed in today’s world, businesses need to adopt a new model: the flywheel. Unlike the sales funnel, the flywheel is not linear. It is a circular model that focuses on customer satisfaction and delight. The idea is that satisfied customers will become advocates for your brand, driving more sales and growth.
The Three Phases of the Flywheel Model
The flywheel model has three phases: attract, engage, and delight.
In the attract phase, businesses focus on bringing new customers into their orbit. This can involve traditional marketing methods like advertising, but it can also include content marketing, social media, and other inbound marketing tactics.
In the engage phase, businesses focus on building relationships with their customers. This can involve personalized messaging, targeted offers, and other tactics designed to make customers feel valued and appreciated.
In the delight phase, businesses focus on creating exceptional experiences for their customers. This can involve providing excellent customer service, offering loyalty programs, and other tactics that go above and beyond to create satisfied customers.
Benefits of the Flywheel Model
The flywheel model has several benefits over the sales funnel:
The flywheel model puts the customer at the center of the process. By focusing on customer satisfaction and delight, businesses can build long-term relationships that lead to repeat business and referrals.
Unlike the sales funnel, the flywheel model is not linear. This means that businesses can adapt to the changing needs and behaviors of their customers.
The flywheel model is designed to be measurable. By tracking metrics like customer satisfaction, retention, and referrals, businesses can see the direct impact of their efforts.
The sales funnel may have worked in the past, but it is no longer effective in today’s world. By adopting the flywheel model, businesses can put the customer at the center of their strategy and build long-term relationships that lead to growth and success.
1. What is the difference between the sales funnel and the flywheel model?
The sales funnel is a linear model that assumes every customer follows a predictable path to purchase. The flywheel model is a non-linear model that focuses on customer satisfaction and delight, with the goal of turning customers into advocates for your brand.
2. Can businesses still use traditional marketing methods with the flywheel model?
Yes, businesses can still use traditional marketing methods like advertising with the flywheel model. However, they need to be aware that customers may not follow a linear path to purchase and may interact with the business at different stages of the journey.
3. How can businesses measure the success of the flywheel model?
Businesses can track metrics like customer satisfaction, retention, and referrals to measure the success of the flywheel model. By focusing on creating exceptional experiences for customers, businesses can build long-term relationships that lead to repeat business and growth.
4. What are some tactics businesses can use to delight their customers?
Businesses can use tactics like providing excellent customer service, offering loyalty programs, and personalized messaging to delight their customers. The goal is to create exceptional experiences that go above and beyond what customers expect.
5. Is the flywheel model only applicable to certain types of businesses?
No, the flywheel model is applicable to all types of businesses. Any business that wants to build long-term relationships with its customers and drive growth can benefit from adopting the flywheel model.
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