Goodbye to the famous Hubspot funnel! Yes, you read that right. At the INBOUND2018 keynote, Halligan started talking about removing the funnel and adopting the “ flywheel ” as a model for thinking about user experience.
The Inbound Marketing methodology is evolving towards customer loyalty. Hubspot, the main promoter of this methodology and leader of the most important marketing automation platform, presented the Service Hub tool at its annual event in 2018 and shocked with a novel concept: the flywheel of the purchasing process.
This new sales concept, which is an evolution of the sales funnel scheme , emphasizes the importance of customer satisfaction to attract new prospects , since they do not care so much about what the brand says about itself, malaysia email list but rather what those who have already tried it say.
This could be considered a return to the early days of marketing, when word-of-mouth advertising was what attracted new customers and drove business growth.
For many years the funnel has been our trusted companion, but this is as far as it goes, it was a pleasure. Funnels lose the energy you put into them once you reach the bottom, whereas flywheels are extraordinary at storing and releasing energy.
Hubspot-flywheel
Even though the funnel was our great love, I have to admit that its linear approach to measuring growth is a huge weakness. Funnels generate customers , but they don’t consider how those customers can help you grow or how to keep those customers for the rest of our lives. This is not only inefficient, it’s a major problem.
So while the funnels lose their momentum at the bottom, the flywheels use their momentum to keep spinning. Plus, because they retain momentum so well, all the extra energy you add to spin it faster will increase the capacity of the whole thing.
Hubspot-flywheel
What does the new era of Hubspot look like?
An era focused on the customer, based on different phases of Attract, Engage and Delight that surround the most important point : THE CUSTOMER .
That's why HubSpot is redefining its sales funnel scheme , in which everything started with marketing and sales strategies, to launch its new concept of " flywheel ", or inertia wheel according to its literal translation.
"It's not about the flywheel replacing the sales funnel, but rather complementing it with a strategy and a tool that assigns the corresponding value to that stage of the purchasing cycle that is so important for customer loyalty: after-sales service."
HubSpot co-founder and CEO Brian Halligan argues that today "customers are the primary driver of prospect engagement " and that customer complacency is what drives the wheel.
This is not a radical change that affects the Inbound methodology, but rather an adaptation of the traditional sales funnel that ended with a purchase due to good work on the part of the marketing team, to attract, and sales, to convert.
In the Inbound methodology, an important element has been to go beyond the sale and delight the customer to build loyalty and make them return frequently, and even turn them into brand ambassadors, and that part is what incorporates the " flywheel " concept.
flywheel
In each of the stages described below - Attract, Engage and Delight - we have to make different priorities and commitments to our prospects and customers.
Attract – Capture your people’s attention, don’t force it. Attract visitors with useful content and remove the barriers they are trying to gain regarding your company.
Engage : Open relationships, not just close deals. Allow buyers to contact you on their preferred timeline and channels. Tie sales incentives to customer success, not just close rate.
Delight: Finally, new customers have the potential to become promoters of your company. Remember that the customer's success is your success.
Finally, the most important phase of this change of era:
THE CUSTOMER: Companies grow when customers succeed. It’s as simple as that. If all teams aren’t aligned and working to minimize friction for their customer, the entire company loses momentum.
When you’re first starting to grow a business, most of your resources will be focused on the Attract and Convert parts of the flywheel. Rightfully so, it takes a lot of investment to build enough momentum to get the flywheel spinning. But once it is, consider whether your resources could be better spent focusing on building customer loyalty .
That’s because once your flywheel is spinning, the momentum comes from retaining customers and transforming them into promoters who will advocate for your brand and even bring you new business.
Examine the "forces" (activities and programs) that currently move your customers through your flywheel, and consider whether they are designed to serve your process or your customers' needs.
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