The Flywheel as a Concept
First, we need to understand the flywheel. Traditionally, customers were regarded as part of the input/output system in the sales funnel. But the flywheel sees customers as something closer to a system of levers, where each action the sales team takes creates momentum or adds force to the flywheel. The more momentum the flywheel has, the easier it becomes to drive revenue as the customer journey becomes smoother and more seamless. The focus is on applying force where it counts and removing any bumps, twists, and turns in the customer journey that could reduce friction.
Why Implement the Flywheel in Your Sales Process?
One critical advantage of the flywheel is that it places the customer experience at the forefront of your sales process. This focus on customer success means customer acquisition costs are lowered over time, and customer retention rates are improved. It also simplifies the sales process and ensures that everyone in the sales team is aligned with the goal of customer satisfaction. By enabling everyone on the team to focus on what's essential (the customer), your team can be more effective in achieving your sales goals!
Implementing the Flywheel
At the core of the flywheel is the belief that providing exceptional customer experiences is the key to growth. As such, organizations must continually look for ways to engage and delight customers at every opportunity. One way to do this is by identifying friction in the sales cycle and seeking ways to reduce it. Assess your customer journey and consider ways to simplify each step while improving the overall customer experience. Another way to implement the flywheel is by focusing on your most important advocates: your existing customers. Ask them for feedback, offer incentives, and display appreciation to encourage them to spread the word and bring in new customers.
The Benefits of the Flywheel
One of the most significant benefits of adopting the flywheel is that it helps create long-term growth. By focusing on the customer journey and experience, you cultivate loyalty and create returning customers. It also ensures that everyone on the sales team works towards a common goal and knows each customer's value. By engaging and delighting customers, your organization pays closer attention to their needs, creating a sustainable foundation for growth.
The flywheel might be a new concept, but it has already disrupted sales. By focusing on providing impeccable customer experiences, the flywheel creates a customer-centric sales cycle that drives growth over time. It allows organizations to convert existing and new customers into a value-adding phenomenon that strengthens long-term growth. With the flywheel as a guiding principle, your organization can achieve more significant returns than ever while creating an unforgettable customer journey.