In a world where Customer Experience (CX) is the new marketing focus, a solid CX strategy may seem like a lot of work. Too often, companies fail to create an effective CX strategy either because they have never had one in place or they didn't have the right processes implemented.
People buy from people they like, trust and feel comfortable with. If you want to sell your product or service to a customer, there are two things that matter:
Here is where Hubspot Flywheel comes into the picture. This method helps organisations build their customer experience around a frictionless, repeatable process that offers value and results in mutual success.
Defining your ideal customer experience succinctly and efficiently, making your customers feel like they are receiving value from every interaction with your brand.
What is the Flywheel?
The HubSpot flywheel is a model adopted by HubSpot as a metaphor for the process of growth.
The flywheel is exceptional at storing and releasing energy, which is very important when considering your business strategy, as it can be easy to get lost in small details and lose sight of your overall mission. The amount of energy it stores is determined by the speed at which it spins, the amount of friction it encounters, and its size. Once you build up enough momentum and have your products or services in front of customers, the flywheel will move forward at full speed by keeping things simple, manageable and focused on outcomes rather than processes.
The model applies to both running and building your business. When there are too many steps involved in completing a task or launching a new service, they become difficult (or impossible) to manage, slowing down growth. So, they must be completed one at a time rather than simultaneously – similar to putting bricks into a house.
The Flywheel Improves Customer Experience
The flywheel is a business concept that describes the process of moving in a circular motion. For instance, when someone buys a product or service from you, they will most likely use it and recommend it to other people as well, but only if they have positive feelings about doing so.
The flywheel contributes to this by ensuring that every interaction with your brand is positive. Managing to keep the people who are already your customers satisfied with your services while bringing new prospects in through word of mouth.
How does the Flywheel work?
The most successful businesses will modify their plans to account for all three factors: how fast you spin it, how much friction there is, and how big it is.
The speed of your flywheel increases as you apply force to the areas with the greatest impact. Forces, as coined by HubSpot, are programs and tactics that you use to accelerate your flywheel. For instance, forces include inbound marketing, a freemium product, frictionless selling, a customer referral program, paid advertising, and investing in your customer support team. By focusing on how you can help your customers succeed, it increases the likelihood that they will endorse your business to other people and tell them about their success.
The main components of the Flywheel
The first step in the flywheel is to attract visitors to your website. This can be tricky because you have a lot of competition out there! But it isn’t impossible – just look at how many people are using Google, over 1 billion searches per-day!
You don’t need hundreds of thousands of visitors every day, all you need is enough people who will visit your websites and engage with your brand. It doesn’t matter how many “hits” (clicks) there are, what counts is whether those clicks result in an actual sale or lead generation opportunity that propels the visitor into an ongoing relationship with your brand.
The engagement phase of your marketing program is a critical one. It's where you build trust, loyalty, and advocacy for your brand. This can be done by using HubSpot's marketing automation tools to send emails, create landing pages and manage other aspects of your marketing campaigns.
In addition to these traditional forms of engagement, we also recommend using social media tools as part of this process as a way to further measure the engagement rate in all your channels.
If you own a small business, your customer success team is probably doing everything it can to delight its customers. The issue is that most businesses do not understand what "delight" entails. It's not just about providing them with the best service possible; it's also about making them feel like VIPs, which is accomplished through interaction with you and your team. That's why Hubspot created the Flywheel analogy: they know that if you focus on delighting customers first, everything else will fall into place.
Some of the features provided by Hubspot Service Hub may come in handy when it comes to delighting your customers even more. These include self-service (knowledge base, chatbot), proactive customer service, multichannel availability, and much more.
The flywheel is the foundation of your customer experience strategy. It's something you need to build in order to provide a better experience for all of your customers, and that’s why many people are already implementing this strategy, because they understand how powerful it can be.
The goal should be to create a process that makes things easier for both parties so that no time or money is wasted on unnecessary interactions and everyone is satisfied. After all, a happy customer means a job well done, and definitely more future business.