In the modern business world, adopting a customer-centric marketing strategy is the best way to grow your business exponentially.
For any new business owner, a solid marketing strategy is crucial to establish your position in the industry. But if the end goal of your current marketing strategy is for a customer to make a purchase, then you need to reconsider your game plan.
Traditional marketing strategies like the sales funnel follow a linear customer journey, from awareness to purchase, and would be less profitable if your business fails to generate repeat purchases. A lot of money is spent creating promotional material to attract new leads and convert them into sales, but without fostering a connection with your target market, customers will eventually leave, and that money goes to waste.
One of the emerging strategies that will attract leads while still maintaining a loyal customer base is the flywheel model. This strategy grows and maintains its momentum in three ways:
Keeping customers engaged through free, curated content
Prioritising a positive customer experience
Converting customers into brand promoters
Read on to learn how the flywheel will drive your business toward success.
1. Use Free, Curated Content to Keep Customers Engaged
The most effective way to increase traffic towards your business is to create content that your target market finds valuable.
Consumerism is evolving and people are becoming more aware of where or who they’re buying from. Customers are only willing to purchase if they believe that the product or service will benefit them or solve a specific problem they have.
By putting out content that not only shows the public who you are and what your brand stands for, but also educates the public and shows the value that you can give to customers, this builds trust with your audience and sets you apart from your competitors.
Consistently provide valuable content to your target market, and they will have a reason to keep coming back.
2. Provide a Positive and Personalised Customer Experience
The main difference between the sales funnel strategy and the flywheel marketing strategy is that the sales funnel ultimately aims to create sales, while a flywheel model ultimately aims to create customer retention, which is more beneficial to your business’ success over the long term.
One of the key factors in increasing the chances that customers will return is by giving them a positive customer experience whenever they engage with your business, at every step of their customer journey. Whether this is before, during, or after they purchase from you, prioritising customer satisfaction will lead to more positive reviews, more referrals to other potential customers, and more repeat purchases.
Recognise that a positive and personalised customer experience builds trust and rapport with your target market, and is essential to your long-term success.
3. Delight Your Customers into Becoming Brand Ambassadors
As you’re marketing your business, it’s natural to create promotional content to increase your brand awareness in the industry. While creating ads to attract new customers is essential, we cannot forget about the existing customers who already love your product.
If you follow the two above steps - creating valuable content that your target market can consume for free, and providing customers with a positive customer experience - you increase brand loyalty and trust among your customer base. These customers who believe in your product and your brand fully are the ones who will promote your brand to others, potentially bringing more customers your way. While some people may never purchase your product or service and only consume your free content, we shouldn’t underestimate the influence they have.
Establishing yourself as a valuable expert in the industry that many people can vouch for is sure to attract other leads that are willing to purchase from you.
Building Your Business Means Building Trust
In the modern business world, it’s becoming more apparent that marketing is more impactful when done through digital and social media channels. We’ve moved past traditional marketing strategies like the sales funnel that often focus on one-way communication, and are well into a world that is more interconnected than ever before.
Authentic, relatable content is gaining more influence, which means that what everyday consumers are saying about your product - through user-generated content (UGC), online reviews, or simple word-of-mouth - can have a big impact on your growth and reach. By taking advantage of this two-way communication, you can build trust and rapport with your customers, which encourages repeat purchases and grows your business over time.
This customer-centric marketing approach is the essence of the flywheel model, and prioritising customer satisfaction and engagement is what keeps the wheel going and growing.
As a design agency, we understand that creating online content that captures attention and provides value to your target market consistently can be time-consuming for business owners, which is why we provide a retention package where we create social media content for you, so you can focus on growing your business from the inside.
Start a conversation with us to learn more - you can reach us at hi@aicreativv.com. Our emails are always open.
Let’s make the magic happen together!
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