What is the Flywheel?

The flywheel model is a new way of practicing sales that focuses on customers and their ongoing satisfaction with your product. Picture a literal wheel: your customers form the very center of it, with marketing, sales, and other services flowing around them.

In the flywheel model, the focus is put on customer satisfaction: it’s the driving force that will spin your company’s wheels. The goal is to keep customers happy so they in turn help grow your business.

Sales Funnel vs. Flywheel

Both the traditional sales funnel and the new flywheel method aim to engage prospects, move them through the sales pipeline, and ultimately convert new customers. However, there are important differences.

The sales funnel is a more traditional approach. It typically focuses on the customer’s journey, but the main goal is to get a sale that benefits the company and generates revenue.

The flywheel looks at customers as the driving force of the sales process. With this model, customers are at the forefront: their satisfaction ensures referrals and word-of-mouth reviews, which inevitably bring more prospects into the sales pipeline.

Why is the Flywheel Important?

The world of sales is always changing. Using the same outreach methods will cause businesses to become stagnant. When buyers’ actions and attitudes begin to change, your sales cadence needs to adapt. Companies that implement the flywheel method show they’re able to recognize change and work with it.

Now, most buyers do their own research before considering a new product. Reading online reviews or asking colleagues for feedback and opinions is common, so it’s important for companies to always ensure customer satisfaction. If an existing customer posts a negative review, anyone who reads it will second-guess your product and be more likely to go to a competitor.

Positive referrals and recommendations, whether through word of mouth or online posts, are essential for the flywheel method to work. They drive more sales and keep prospects flowing into the sales pipeline.

With the flywheel model, every team within a business is also aligned with the same goals. Everyone works together instead of placing the bulk of the responsibility on a single team. Marketing and sales teams must be aligned, as consistent communication with prospects and customers is key.

Understanding the Flywheel Model

Implementing the flywheel model requires three main components: attraction, engagement, and satisfaction. Multiple teams within a company share responsibility for these actions, and work together to ensure customers are informed and happy with their product usage.

Attraction

Sales reps and marketing do the bulk of the work when it comes to attracting new customers. This is done through prospecting and demand generation, so it’s crucial that these two teams are aligned. Referrals also drive attraction; customer satisfaction is vital because it impacts future sales.

Engagement

Different teams practice engagement differently. Sales reps set up meetings or calls and do sales demos to keep prospects engaged. Providing information, answering questions, and showing them how your product will help them achieve their goals will keep them interested.

Satisfaction

The best way to keep customers satisfied is by making the entire process easy for them. Don’t make prospects jump through hoops to complete a sale. Everything should be straightforward. Always follow up afterwards to answer questions or provide help as needed.

Within the flywheel method, everything is connected and links back to the customer. Business decisions should be kept with customers in mind, and teams should always be aligned and work toward common goals.