You probably heard it many times before, but what is “Flywheel” business model?
Flywheel is a business model that illustrates the momentum your organization can gain by prioritizing and delivering exceptional customer experience.
You can spin and build momentum in your flywheel by investing in strategies that acquire and retain customers — forces for your flywheel
Anything that slows down your Flywheel is called friction. The most common frictions come within your teams. Communication, organization and alignment among them is a crucial factor to keep the Flywheel spinning. Another crucial factor is poor or wrong investment on the right actions or departments in your organization.
What are the main phases of Flywheel?
Attract new customers with your marketing efforts
Engage with them with your sales department
Delight them with your product/service quality and your customer support department
After all there is no magic recipe in marketing that can produce results over night, it’s the efforts, the try and fail period that make you wiser and the consistency that will take you to the top!
Inbound marketing is based on the “Flywheel” business model and in GrowthOwls we know how to do it!