For a very long time, the business has been using the marketing funnel model to track the lifecycle stage of any prospect.
With the change in consumer behavior and the advent of new technologies, the funnel model is not very effective.
In our HubSpot consulting journey, we help the client manage HubSpot using Flywheel model, which we think is better approach to manage the pipeline and grow the business.
What is flywheel model?
The essence of flywheel model is that the existing customer is the source of business growth.
If we take care of our existing customers, the company will get more business via upsell or referrals.
With the increase in global competition and rise in buying process complexity, we, as HubSpot partner, suggest this model to grow your business.
The flywheel model is divided into three steps;
(a) Attract
(b) Engage
(c) Delight
(A) Attract
The prospect first has to be aware of your business and should gain trust in order to consider you as trustful partner.
The businesses should make an effort to create brand awareness across marketing channels.
Brands can create valuable content and distribute it across the web or social media.
Organizing events/podcast on new industry trends can be an effective strategy to raise awareness.
The idea is to make your brand available where the customers are and gain their trust by providing them valuable knowledge.
(B) Engage
Once the prospect is aware of your brand, he will look to engage with your business and explore for any business opportunity.
At this point, your job is to make their experience seamless by providing them relevant resource on the website.
These resources should help the client make decision faster.
The resources could be your sample work, case studies or testimonials from your existing clients.
Share the details of your services on website – this will help them gauge if we can solve their problem or not.
Lastly, at this point, your job is to score and segment customers according to their marketing persona.
Use the segmentation list to run personalized campaign suitable for their needs.
Don’t forget to provide easy access to meeting links / chatbox so they you remain accessible at the right time.
(C) Delight
This is the last phase of the flywheel in which you have to make every effort to make customer happy with the service experience.
Go beyond expectations with the offering and you will get more business through upsell/referrals.
The idea of flywheel is to make all sales, marketing, and service team work in sync with customer.
In traditional funnel model, all the teams work in silos and chase their individual goals. This approach creates friction between the teams and spoils customer experience.
In HubSpot’s flywheel model, communication is the key.
All the team members have to remain in touch and work with each other to exceed customer service expectations.
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