Why the Flywheel is Key to Your Company’s Success
The flywheel—it’s an idea that’s been around for a while. The basis of it involves a heavy wheel that takes some effort to push. But once you get the wheel moving, it gains momentum, spins faster, and creates even more energy. And this momentum continuously builds on itself, which means the wheel never stops. So what does this have to do with your business? A lot! Here’s why.
When you think of a flywheel, images of some sort of industrial machinery or even a car engine probably come to mind. So what could such a mechanism possibly have to do with the success of your business? As it turns out, it’s a key component in helping your company grow and thrive.
It all starts with the marketing strategy behind your business. What could be better than a marketing plan that builds momentum as it moves along? That’s the whole philosophy behind your flywheel, and it’s a vital part of growth for any startup or small business. Just as a traditional flywheel continuously gains momentum as it provides ongoing power output to a machine, a marketing flywheel continuously gains momentum as it creates cyclical relationships between you and your customers. In other words, each relationship that you worked hard to create with your leads doesn’t end once that lead becomes a customer. Instead of leaving customers on their own in the hopes that they experience success with your product, the flywheel ensures that the relationships continue with the energy needed to keep the momentum going—and the wheel turning. It’s a continual loop that involves customers interacting with the company—and vice versa—long after the transaction has ended. With the flywheel, your focus is not only customer acquisition but also customer retention.
In addition to creating these ongoing relationships with customers, the flywheel offers other key benefits to your company, such as repeat sales and referrals. Happy customers tend to buy again, renew subscriptions, and/or invest in higher tiers of service with your business. And because these customers have achieved success with your product, they are likely to share their experiences with others in your industry and drive referrals your way. These repeat sales and referrals add even more momentum to your flywheel to keep it spinning—and to keep your company growing.
The Bottom Line
If you’re ready to get your own flywheel moving, Funnelfly offers an automated platform that can have you up and running in minutes. We help you gain momentum as you consistently stay in front of leads through automated drip email campaigns. And once these leads turn into paying customers, Funnelfly ensures that your business stays engaged with them well past the sale so that they eventually become advocates for your company by spreading the word. As a result, the wheel spins right back to attracting more leads. Before long, your flywheel is turning at a rapid pace while constantly gaining speed thanks to an ongoing flow of communication with both leads and customers. You’ll experience more conversion success with less effort on your part. Tap into Funnelfly, the automated email drip campaign platform created by startup founders specifically for startups and small businesses, to get your flywheel spinning and your company growing.