JUMP FROM FUNNEL TO FLY WHEEL
Every company needs a solid digital marketing framework to achieve their online goals.
Creating a marketing funnel and setting up a process for the promotion of the business is a traditional way of marketing. This is an user acquisition funnel or one time buyer funnel.The marketing funnel has three parts TOFU(Top of the Funnel), MOFU(Middle of the Funnel), and BOFU(Bottom of the Funnel)
TOFU– The strategies used for creating brand awareness for your company.
MOFU– the strategies used for generating leads for your business.
BOFU-The strategies used for acquiring and retaining your customers.
And this funnel follows AIDA formula – Attention, Interest, Desire and Action.
Attention- Show them that you exist out there. Do Brand awareness and Attract your potential customers using the right type of media channels like Google, bing, facebook, Instagram etc.
Interest-Develop an interest for your product/service through offers, advantages and benefits.
Desire- Make the customers go to the next step from liking to wanting your product/service by creating a relationship with your potential customers.
Action- Have a strong call to action so that your prospects buy/avail your product/service.
And the last step would be retention of customer loyalty. But this model talks only about bringing customers for your business. But customers can do more than that.
New business marketing model – FLYWHEEL
A satisfied customer is an asset to a business because they help you grow higher. The focus has shifted from better products to better user experiences in this new age.
In this flywheel, everything you do revolves around the customer. This is the pull marketing or inbound marketing.
Attract- Get people’s attention to know more about your product/service.
Engage- Stay connected with people and keep sharing relevant interesting and useful information. Build a bond with them
Delight- solve the customer’s problem and make them achieve their goals.
There is a huge paradigm shift in the business world and the products, services everything is done at a customer centric approach. So it is not giving the best product but creating great customer experiences that leave them coming back for more. A delighted customer is the best way to grow your business. That’s why it is rightly said “Customer is the king!”