Today on Inbound Academy we’re going to introduce you to the flywheel model. That's it. It's interesting, don't worry! Now start listening!
Jeff Lambert: 00:00 Today on Rizen Academy, we're going to introduce you to the concept of the flywheel model.
Jeff Lambert: 00:18 And welcome everybody. I'm your host, Jeff Lambert. If you've been listening to our previous episodes, we've been talking about how every buyer's journey can help you set up your content and your interactions to match where your customers are in their buying journey. Today we're going to talk about an inbound strategy known as the flywheel model. Joining me to talk all about that is Rogelio Rodriguez, the CEO at Rizen Inbound. Thanks for coming back today.
Rod Rodriguez: 00:44 Thanks for having me, Jeff.
Jeff Lambert: 00:45 So this flywheel model, you know, I have a picture of the flywheels that you can buy in the toy store, but we're talking about a specific framework that's within the inbound methodology. So the flywheel model, at least from what I researched about it, it's a new way to approach the sales funnel idea. So before we get into this too much, just so our listeners are on the same page as us, what is the sales funnel?
Rod Rodriguez: 01:14 That's a good question. So I think traditionally the metaphor for both marketing and sales has been this visualization of a funnel where you have leads; that you have a prospect at the top of the funnel, with leads and contacts in the middle of the funnel. And then you have customers at the bottom of the funnel. That's what It's supposed to produce. So it's really a metaphor for marketing and sales and how that process works.
Jeff Lambert: 01:53 Getting it from the top to the bottom - and obviously the goal is then making a purchase?
Rod Rodriguez: 01:57 Yes.
Jeff Lambert: 01:58 So what is the flywheel model?
Rod Rodriguez: 02:00 So the Flywheel is the answer to the understanding that the traditional funnel is broken, right? I think Brian Halligan, the CEO of Hubspot, put it in this light. Actually the first time that I saw it was at an inbound conference. He described it just like that, where it's a broken model because it takes customers and almost makes them an afterthought. Like there's nothing that's going to happen after they become a customer. Right? And we know that's not true because it is far less costly to keep a customer than it is to acquire a new one. The flywheel is the answer to that, because it's now a metaphor that takes into account the understanding that it's a cycle, right? From attracting individuals, engaging with them...with sales...and then delighting them so much that they help fill back that funnel, fill back the cycle, right? So it's constantly moving and spinning.
Jeff Lambert: 03:20 Like a flywheel?
Rod Rodriguez: 03:22 Like a flywheel.
Jeff Lambert: 03:22 Okay. Well, I see, I understand though. I see the illustration. Does that mean I should just chuck out my sales funnel?
Rod Rodriguez: 03:28 I think the sales funnel could be broken down into these different pieces and feeding the flywheel, but it's definitely a mental shift that has to happen, right? And understanding that we should look at it in this way because this is the most effective way to attract more customers and maintain customers as well. It's just much more effective, I think to be able to explain that and get your organization in the mindset of what needs to shift in order to enact this, this process in your organization.
Jeff Lambert: 04:13 So I don't necessarily have to throw out whatever I've been doing now. It's just trying to visualize it differently?
Rod Rodriguez: 04:19 Yes. So it's a shift, a shift in the way that you think about it.
Jeff Lambert: 04:24 And 'm always good with visuals. If I need more information on the flywheel model and how that looks, and I guess getting me away from the sales funnel, which I know how to draw on paper really easily, does Rizen, have any resources that I could go and check out to help me visualize that a bit more?
Rod Rodriguez: 04:42 Yes, absolutely. You can check out our website at gorizen.com and we have a ton of resources. We have some other podcasts planned out specifically about going deeper into how the flywheel can be adapted to organizations as well. So stay tuned and check the website out and you should be able to find it there.
Jeff Lambert: 05:01 Oh Great. I'm looking forward to that and I'm sure our listeners are too. So Rod, thank you so much for coming back to talk about this issue and I'm certainly looking forward to continuing our conversation about other topics related to inbound.
Rod Rodriguez: 05:14 Fantastic.
Jeff Lambert: 05:15 And to our listeners, thank you again, you know we wouldn't be here without you and we are getting deeper into our topics here. We're on episode 12. Things are going great. We're excited about bringing you this podcast because we really believe in what we're talking about and if you want to connect with us, please reach out to us on social media. We're available on Facebook, Instagram and twitter at RizenInbound and you can also find us on our website, gorizen.com. We offer a whole suite of marketing services. If you feel like you just want to partner with another organization, Rizen can help you, and they're focused on goals and they're focused on relationships. They really embody everything we're talking about in terms of inbound. So you can check them out online and remember that this is your starting point. We're here to help you get to your end point, which is growth for your business. Thank you again for tuning into the episode today, and we'll see you on the next one.
Want to stay in the know?
Join us, and get all the podcasts and more straight to your inbox.