The funnel or sales funnel has been of great help to marketing and sales teams for many years, due to the ease with which it allows to visualize and measure conversion strategies. However, processes are constantly reinventing themselves. One of them, sales management , giving way to the inbound growth cycle .
Going from the sales funnel to the growth flywheel is not an easy decision, on the contrary, it brings with it multiple actions that involve not only the commercial team, strategic areas that directly influence the generation of business, such as marketing and service converge to the client.
That’s why here, we share with you 4 reasons why you should consider moving from the traditional sales funnel to the growth flywheel .
Why does your company need to evaluate the sales funnel?
Generally, when people use a sales funnel, it looks something like this. In a graphic way and in practice, clients are considered as a consequence and not as a force that motivates the multiple efforts.
In our experience, when traditional funnels are used, the sales and marketing processes are implemented in isolation, each with different objectives, and if we are talking about a satisfaction or customer service team, it is likely that it is not seen as a source. of recurring purchases.
In a traditional sales funnel, the customer / company relationship ends when a sale is closed. And, while these processes generate customers, they do not take into account how those customers can help you grow.
With Flywheel you assume that the customer is the engine that drives each and every one of your efforts , in which each interaction counts and contributes to the growth of your company.
The inbound growth cycle
The inbound or flywheel growth cycle is responsible for eliminating the barriers that cause the sales process to be divided into phases focused on specific teams.
Although marketing, sales and customer service can implement different tactics or strategies, the flywheel is capable of covering all the interactions that one has with a prospect within the same methodology.
As you will see, the most significant difference between the funnel and the flywheel is that in the latter, the client is placed at the center of all your efforts.
The inbound growth cycle depends on your leads and customers for the energy that keeps it spinning. Your sales team’s job is to eliminate friction that could make it difficult to move the cycle.
The flywheel was developed according to new consumer habits. Modern consumers want to get their own information and make their own purchasing decisions.
The inbound growth cycle adapts perfectly to new consumer habits by putting customers at the center and delegating the responsibility of bringing valuable information and helping customers make decisions in a way that suits their needs in your marketing, sales and customer service team.
From the sales funnel to the flywheel, 4 reasons to do it
The flywheel is a new growth model proposed by Hubspot that replaces the conversion funnel figure with a flywheel. In which, customer experience and satisfaction is the driving force behind all the strategies that the company decides to undertake to generate more and better customers.
1. Eliminate friction in the sales process
One of the main differences between the sales funnel and the inbound growth cycle is the concept of continuity.
The conversion funnel has a clearly established start and end point. What makes the path of customers interrupted every time they finish the marketing funnel and go to sales, or when they finish sales and go to customer service.
Although it may seem like an irrelevant issue, these pauses are perceived by customers and in the long term, they can have an impact on a flight for our customer base.
Thanks to the integration of marketing and sales efforts within the inbound growth cycle , these are avoided from being seen as separate processes and give way to a series of continuous processes, whose objective is the implementation of scalable processes that contribute to income. of the business.
2. Helps you better follow up on leads that do not follow a linear process
In inbound marketing, it is normal to attract leads that are not yet “mature” enough to make a purchase. This does not mean that they are unqualified prospects, they just need more information and time to make a decision.
Under the sales funnel, these leads are often discarded, or receive little follow-up compared to other leads. While on the flywheel, they remain at the center of the sales process and go through an automated nurturing phase until they become a qualified lead.
This helps your sales team focus their time and efforts on the prospects with the highest purchase intent. Those that need maturation represent an opportunity to become customers with even more knowledge of your product or service.
3. Align your marketing and sales teams
The existence of a sales funnel implies the existence of marketing and customer service processes operating independently of each other.
This not only makes prospects feel more friction throughout their conversion process, but it also makes collaboration between two teams that should work hand in hand and pursue the same goals much more difficult.
The sales flywheel allows different departments to have a broader view and to provide feedback to each other. This prevents teams from isolating themselves and creating friction for prospects.
4. Improve your sales
As a natural effect of the collaboration between your sales and marketing team, the percentage of closed sales increases and therefore, you receive higher income.
According to Hubspot, companies that manage to align their sales and marketing teams generate 208% more revenue.
Thanks to the flywheel it is possible to generate more adequate and customer-focused strategies, since both teams are focused on the same objectives.
Of course, transitioning from the sales funnel to the inbound growth cycle is not something that happens overnight. First you need to get team members in tune with the changes that will be made.
Also, getting the most out of your flywheel depends largely on the use of tools. Although neither inbound nor flywheel sales are exclusive methodologies of Hubspot, this tool is responsible for facilitating the transition to it.
Within it you can find marketing tools, sales, services and a powerful CRM that will help you track each of the steps that prospects follow.
Do you want to know how you can start creating an inbound growth cycle in your company? Download our guide to launch a repeatable and scalable sales process. It’s free!