Still using funnels in your marketing analytics? Get with it!
Funnels have long been the go-to model for understanding customer acquisition and conversion, and while they do provide value, funnels falls short when it comes to reflecting the value of the customer.
🔀 Enter the Flywheel! 🔄
Here’s why the Flywheel wins:
1️⃣ Customer-Centricity
The Flywheel places the customer at its core, recognizing that they are not just a “conversion” but an ongoing relationship. It celebrates the value customers bring not just at the point of purchase but throughout their entire journey.
2️⃣ Retention Rules
In the funnel model, the focus is predominantly on attracting new leads, often neglecting the treasure trove of opportunities within your existing customer base. The Flywheel emphasizes customer retention, acknowledging that repeat customers are more cost-effective and likely to become brand advocates.
3️⃣ A More Holistic View:
The Flywheel model encourages a holistic view of your marketing efforts by tracking customer interactions across the entire lifecycle. This way you gain deeper insights into what works and where improvements are needed.
By prioritizing customer retention over constantly chasing new leads, you can unlock sustainable growth, build brand loyalty, and thrive in an ever-changing competitive market.
Ready to see how a flywheel can be implemented in your marketing efforts to improve your customer experience and your bottom line? Get in touch.