Flywheel effect - Make your customers, advocates
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How Amazon became a $1,400,000,000,000 company with the flywheel effect
What is Flywheel effect
Flywheel effect is a marketing strategy that hopes to drive ongoing customer purchases by building loyalty, engagement, and advocacy using marketing and social media. The goal is to simultaneously convince current customers to purchase more, while servicing customer requests and creating customer advocates.
It only works if you are looking for customers and not just sign ups.
Customer centricity is at the center of Flywheel effect. Focus on delivering value to your customers and cultivate and empower your customer advocates to deliver Flywheel effect.
Flywheel Marketing Toolkit
Delight not just serve
The flywheel effect is a marketing philosophy that centers around delight not just service, or sending customers away satisfied with the purchase. There is a strong focus on understanding customer needs without ignoring the opportunity to improve and find ways to keep these customers through delight, rather than outright selling to them. The flywheel principle is designed to ensure that marketing engages customers with a personal encounter and creates a feeling of value prompted by a genuine emotional connection.
Listen & Predict Needs of the customers
We are living in a fast-paced and competitive world where there is no fixed revenue model. The modern business environment creates a high demand for constant change, including marketing techniques and customer experience. Creating a flywheel isn’t about posting, marketing, or pushing your products on the internet. It’s about understanding what your customers need, building products that have value, and providing a solution that exceeds their expectations.
Improve support functions - Operations, support & subscription
Provide more personal and relevant customer service, which makes your customers typically more loyal and eager to refer others. There are a number of benefits to great support system, including a reduction in customer churn, improved customer experience, and better coverage of customer needs.
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