Jul 11, 20215:09 PM - edited Aug 12, 20219:55 AM
What funnels exist in your flywheel?
The flywheel represents your company as a whole, but you’ll still have funnel-shaped charts and graphs representing the effectiveness of different processes within your company, and it’s important to make sure those funnels are fueling your flywheel. What possible funnels exist within your flywheel?
In my company we make products from logs to finished furniture products. So the funnel is while personnel are making their crafts at the same time I do my marketing routine. Talking to customers , taking orders and delivery.
Very large potential for customers in our total addressable market, and then we have less when it comes to our specified market, and our target market is people interested in/and or companies involved with large trucks
Within the flywheel framework, there are various funnels that represent different processes within a company. These funnels contribute to fueling the overall flywheel by attracting, engaging, and retaining customers.
Here are some possible funnels that exist within the flywheel:
1. Marketing Funnel: This funnel represents the process of attracting potential customers and converting them into leads. It typically includes stages such as awareness, consideration, and decision. Marketing activities such as content creation, SEO, social media marketing, and advertising contribute to driving traffic and generating leads.
2. Sales Funnel: The sales funnel focuses on converting leads into paying customers. It includes stages such as lead qualification, nurturing, proposal, and closing the sale. Sales activities, such as lead management, personalized communication, product demonstrations, and negotiations, help move leads through the sales funnel.
3. Customer Onboarding Funnel: This funnel represents the process of onboarding new customers and ensuring a smooth transition into becoming active users or consumers of the product or service. It includes stages such as account setup, product training, and initial engagement. Effective onboarding strategies and resources help customers understand and derive value from the offering.
4. Customer Support Funnel: The customer support funnel represents the process of addressing customer inquiries, issues and providing assistance. It includes stages such as ticket creation, triage, resolution, and customer feedback. Prompt and effective customer support ensures customer satisfaction, retention, and potentially even upselling or cross-selling opportunities.
5. Customer Advocacy Funnel: This funnel focuses on turning satisfied customers into advocates who promote the brand, refer new customers, and provide positive reviews or testimonials. Delighting customers with exceptional experiences and encouraging them to share their positive experiences contribute to building a strong customer advocacy funnel.
It's important to note that these funnels are interconnected and interdependent within the flywheel framework. The goal is to ensure that each funnel feeds into the next, creating a continuous cycle of attracting, engaging, and delighting customers to drive sustainable growth.
Having different funnels for Marketing, Sales, Customer Onboarding, Customer Support, and Customer Advocacy are important to the flywheel model. This model uses stages of attract, engage, and delight to increase consumer confidence, believability, and business progress.
Marketing Funnels bring customers to businesses by appealing to their paint points, needs, or desires. Colorful pictures, witty writing, and engaging videos attract consumers to products or services as leads.
Sales Funnels turns leads into paying customers with engagement. Steps including lead qualifications, nurturing, personalized communication, product demonstrations, and gentle persuasion helps to increase customer participation in deals.
Customer Onboarding Funnels shows ways to increase consumer engagement. Guaranteeing even changeovers to active users will increase their attraction to products or services.
Customer Support Funnels delights buyers by answering questions about products or services, handling problems, and assisting consumers with merchandise. Good customer service not only keeps active customers but also increases the consumer inflow.
Consumer Advocacy Funnels delight buyers as well. Happy customers help to promote businesses by referring new customers, writing positive reviews, and offering encouraging testimonials.
Balancing Marketing Funnels, Sale Funnels, Customer Onboarding Funnels, Customer Support Funnels, and Customer Advocacy Funnels with the flywheel phases of attract, engage, and delight help businesses grow and prosper. Buyers who are pleased and experience good customer service stay as active customers. They will help to spread businesses by word of mouth advertising.
Some possible funnels that would fuel my flywheel for my business would be providing excellent quality work and excellent customer service to back it and to have my customers be more like family then a customer is another break through I believe for my company.
I run a secondary education based tutoring agency. Our biggest funnel is in sales; turning interested parents into customers within our service department. Because of this the cross-team collaboration between sales and service is really important. There is a huge demand for tutors, but limited students with the adequate skills. My biggest weakness is therefore connecting opportunities into paying customers, because an opportunity only becomes a customer when we have enough people within our services department to carry it. I should start tracking and building our recruitment, hiring and training funnel paralell to improve the quantity of service supply available. Otherwise we end up forced to turn away opportunities.
I'm part of a small startup working in the temp staffing and education space, and there are few funnels we aim to keep track of. There are funnels in recruiting, hiring, training, and retention to name a few. Ultimately, our temp employees want to climb up the career ladder towards long-term employment - starting at the bottom of the funnel, we need to upskill them. Identifying what knowledge, skills, abilities, and practical experience they need to have in order to advance, backward from there looking at how we can get them those certifications or experience in a way that meets where they are today, and that the folks we bring in are those who truly want to do the kind of work we're preparing them for. And this is likely just a tip of the proverbial 'funnel use cases' iceberg.
Our key marketing funnel is moving inbound leads from content, organic search, paid social, etc., to a conversation with sales development, on to a meeting with a sales rep. Getting meetings is a key metric
I run a nursing home for the elderly and now setting up a care at home agency. Additionally, I am also involved in a HealthTech startup. For the nursing home business, there are various channels from where we get our leads and how customers move through the funnel. I think there's huge potential to tap customers at the bottom of the funnel to get referrals and word-of-mouth recommendations. We need to do quite a lot in this area, to highlight what we do well and spread the word.
The top & bottom funnels. From my perspective, our company has done quite well in terms of attracting new prospects via advertisement, events & delivering content. We have applied a tool that would encourage our customers to share their experiences across their networks - which impacts on feeding the people coming from the top funnel & making them stay with our business. The part which needs to improve on is our sales process.
I run a small startup working in the information security and education space, and there are a fair number of funnels that we deal with. There are funnels in recruiting, hiring, training, retention, and matriculation of student employees to name a few. Ultimately, our student employees want to graduate and find long-term employment to start their career - starting at the bottom of the funnel, we need to get them employed. Identifying what knowledge, skills, abilities, and practical experience they need to have in order to get that job and what connections internally/externally need to occur, backward from there looking at how we can get them those certifications or experience in a way that meets where they are today, and that the folks we bring in are those who truly want to do the kind of work we're preparing them for. There's much more to this and other areas, but I'd be writing a full on blog post lol.