Flywheel
Definition
A model for business growth that focuses on using the momentum of happy customers to drive referrals and repeat sales.
Deep Dive
The flywheel is a business growth model that replaces the traditional sales funnel by focusing on using the momentum of happy customers to drive referrals and repeat sales, creating a self-sustaining loop. Instead of viewing customers as an outcome at the end of a linear process, the flywheel places them at the center, emphasizing that customer satisfaction generates energy that fuels further growth. This model involves three key stages: Attract (drawing people in with valuable content and experiences), Engage (building relationships and solving problems), and Delight (providing outstanding support and success).
Examples & Use Cases
- 1HubSpot's inbound marketing and sales software, where delighted customers become advocates who promote the platform, attracting new users
- 2Amazon Prime's ecosystem, where excellent customer service and product delivery lead to repeat purchases and subscriptions, fueling more growth
- 3A SaaS company with a strong customer success team that ensures users achieve their goals, leading to high retention and valuable testimonials.