Customer Centered Flywheel Marketing Approach
The time has come time to reconsider the customer journey cycle when growing a business.
Retailers and e-commerce need to stop looking at the single transaction as a success metric and instead understand the need for cultivating LTV from repeat purchases. Both retailers and subscription-based services such as SaaS depend on customer retention and advocacy to drive increased revenue. By creating a circular customer journey map and using a flywheel approach, you can focus on the customer’s lifetime value instead of individual transactions.
This will help focus your marketing and product teams on creating content that maximizes the value of the customer’s purchase, and allow salespeople to reach out to current customers with offers for related or upgraded products.
As a founder or CEO, driving growth for your company is likely one of your top priorities. But with so many competing demands on your time and resources, it can be difficult to know where to focus your efforts in order to see the biggest impact. That’s where Growth Catalyst comes in.
Growth Catalyst is a company that specializes in helping founders and CEO’s ignite their growth engine and drive more revenue and lasting customer satisfaction. One of the key ways we do this is through the use of our unique and battle tested marketing flywheel stack.
So, what is a marketing flywheel and how can it help drive growth for your company?
Essentially, a marketing flywheel is a way of visualizing the various processes and activities that contribute to the overall growth of your business. It’s called a flywheel because, like a flywheel in a machine, it stores energy and momentum that can be used to drive forward motion.
At the center of the flywheel is the customer.
All of the various processes and activities that make up the flywheel are designed to serve the needs and wants of the customer, which in turn drives growth for the business. These activities can include things like marketing and advertising efforts, product development, customer service, and more.
The key to the marketing flywheel is that it’s a continuous loop.
As each of these activities feeds into one another, they create a virtuous cycle of growth. For example, a strong marketing campaign can drive more traffic to your website, which can lead to more sales and customer satisfaction. This in turn can lead to positive word-of-mouth and increased brand awareness, which can drive even more traffic and sales.
Growth Catalyst’s proven flywheel technology helps founders and CEO’s understand the various processes and activities that are driving growth for their business, and provides guidance on how to optimize and scale these efforts in order to see even greater results.
If you’re a founder or CEO looking to ignite your growth engine and drive more revenue and customer satisfaction, reach out to Growth Catalyst today to learn more about how their marketing flywheel approach can help.
