It’s easy to visualize your business as a funnel because any time you look at a graph representing a conversion process, the chart itself is shaped like a funnel. A flywheel is a machine that stores rotational energy. When you add energy to a flywheel, it starts to spin. If you add more energy to it, it spins faster. And unlike a funnel, where the only way to maintain a constant speed is to keep adding more to it, the flywheel will continue spinning. From a business perspective, the rotation of the flywheel represents the growth of your business. Happy customers provide the energy that fuels that growth. Everything you do should be done with the goal of creating customers who will add positive energy to the flywheel and accelerate your company’s growth.
Business Strategy: Transforming Funnels to Flywheels to Grow Better
February 18, 2020||Flywheel Effect, Marketing Funnel