Episode 145: Marketing Flywheels and Momentum

Show Notes

Episode Transcript

Jesse:
You are now listening to Leverage for Growth. Hey everybody, this is Jesse P. Gilmore, founder of Niche in Control and creator of Leverage for Growth. Welcome to the Daily Leverage Edition. Today’s topic is this, marketing flywheels and momentum. Dive into the world of marketing where strategies can become self-sustaining powerhouses, creating an ever-ending loop of value and returns. In physics, a flywheel is a mechanical device designed to efficiently store rotational energy. Translating this to the realm of marketing, imagine a strategy so effective that the energy that you put into it continues to pay dividends long after the initial push. Unlike a funnel where leads come in and customers come out, a marketing flywheel spins with momentum, with each satisfied customer potentially fueling the spin by bringing in more leads. The marketing flywheel typically comprises of three stages. Attract, engage, delight. Attract, this isn’t about casting a wide net, but drawing in the right potential customers with valuable content and meaningful interactions. Engage, here the focus is on building lasting relationships. When potential clients are treated as partners rather than transactions, they are more likely to transition into loyal customers. And delight. Even after the sale, the journey does not end. By continuously providing value, support, and exceeding expectations, you’re not only retaining a customer, but potentially converting them into promoters of your brand. Jim Collins in his book, Good to Great, introduced the business world to the concept of a flywheel. He noted, that while pushing a heavy flywheel takes effort, once it gains momentum, it requires less effort to keep it spinning. In marketing terms, this means initial strategies might require significant resources. Still, once the momentum is built through brand recognition, customer loyalty, et cetera, it becomes easier to maintain and grow. Inter-goal to the flywheel model is this continuous feedback loop. Every interaction with a customer is an opportunity to learn and refine. This feedback isn’t about addressing shortcomings, but also about recognizing what is working and doubling down on those strategies. In the digital age, tools like social media, content marketing, and digital analytics and data analytics have supercharged the potential of the flywheel model. A single viral post or an influential online review can significantly boost the flywheel’s momentum, proving the compound value of digital strategies when harnessed correctly. So let’s move into the daily leverage. So where in your world, whether in your body being bounce or business, can you identify or implement a flywheel mechanism? In your health journey, are there habits that once established provide continuous benefits? Regardless of your, you know, what spiritual journey you’re on, are there rituals or practices that can enhance your daily well-being? In your relationships, are there positive patterns that once set continuously nurture the bond? And in your business, where can you apply the flywheel model to generate sustained momentum and growth? And once you’ve identified where you wanna focus, my question to you is this, what are you willing and able to do about it today? That is the end of the Daily Leverage. This is Jesse P. Gilmore. You’ve been listening to Leverage for Growth podcast. If you’re enjoying these Daily Leverage and agency leverage episodes, make sure to subscribe on Apple.