The Flywheel Effect
As a winery owner, have you ever struggled to gain traction with your digital marketing efforts? When you started, you were energized and full of new ideas. Money and resources were allocated, and you begin, hopeful that results are right around the corner. Time goes by; days, weeks, months, and the results aren't what you expected. You question the process, become less ambitious, and lose momentum. The blog that started as a brilliant idea for rich SEO content now sits unused. Your social media accounts intended to engage new audiences lie dormant.
We've all been there.
Let's face it; marketing takes work. We see many businesses put their valuable energy into the wrong places or even in the wrong way. Many spend time building and analyzing conversion funnels to uncover why their landing pages aren't converting. To make matters worse, their KPIs are outcome-centric, only measuring the end-of-funnel results. If this sounds like you, then stop! Change the way you think about conversions. Your customers are not an outcome or a one-way entry/exit metric. The business you've worked hard to build centers around creating customer relationships by providing consistently outstanding experiences. You need to bring your customers back again, and again, and then again with their friends. It is not linear. It is a cycle.
This is when you set aside funnels and start using a flywheel. To understand the concept of marketing flywheels, it is essential first to understand the flywheel effect. The flywheel effect is a principle that describes how a small amount of effort can produce significant results over time. The idea is that consistent, repetitive actions can build momentum and create an autonomous system.
In marketing, the flywheel effect refers to the idea that a continuous customer engagement cycle can lead to exponential growth. By creating a positive customer experience and leveraging it to generate more business, marketers can set off a chain reaction of growth that becomes increasingly powerful over time. As customer retention increases, those loyal customers become advocates who promote your brand any chance they get. Talk about getting your business spinning!
Get your flywheel moving
Engaging content built around a strong brand story is the fuel that gets your flywheel spinning. Your content should differentiate your winery from competitors and establish an emotional connection with your target audience. What makes your business or product unique? Why should your customers care? Figure that out because it is the bedrock of your brand.
Now that your brand story is in place and content is published let's get things moving. The momentum you can generate first depends on the speed you can spin the flywheel. The second dependency is how large you grow your flywheel. Finally, you need to take into account the amount of friction there is in the system. Friction will slow down your flywheel.
Your marketing strategies should focus on three core phases of customer development: Attract, Engage, and Delight. We're all familiar with these phases. But remember, this is a wheel. Delighted customers attract new customers. It is a virtuous cycle.
Showcase your uniqueness and tell your story on social media. This will attract new customers. Engage them on your website, allowing them to purchase and become a member easily. If you have a tasting room, entice new customers to visit, where you'll introduce your product and quality service. After an unforgettable experience, you have a relationship with the customer, which will be supported and nurtured for years. These delighted customers will provide testimonials, social proof, and a stream of referrals. Your flywheel is now growing and moving at a faster pace.
Now that your customer's success aligns with your business's success, it is time to reduce friction and build momentum. There are many different customer touch-points, each can cause friction, and they all need to adapt to the flywheel model. Those touch-points include search advertisements, landing pages, your website's purchase flow, customer service interactions, and in-person visits. Train your team to use the Attract, Engage, and Delight cycle. When the business adopts the flywheel model, friction is reduced or eliminated, resulting in delighted customers.
To further build momentum, adopt a loyalty program and offer rewards for repeat business. Loyal customers may get exclusive access to new releases or events, personalized discounts, or special recognition for referring friends and family. Dial in your communication style so it feels personal and authentic. Focus on building strong relationships so you know the best incentives to offer and encourage customers to leave rave reviews. By implementing effective communication strategies, your customers will generate more referrals and ultimately increase the size and speed of your marketing flywheel.
With friction removed, loyal customers are making referrals, and your team is dialed in and continues to focus on delighting customers. Like a pendulum, your flywheel will now keep spinning with minimal effort. It is essential to continue with marketing efforts. That heartbeat keeps pumping energy into the flywheel. The business can now comfortably focus on what's next for the company instead of getting the business started. Now is the time to innovate and experiment. You may try new blends or varietals. Or, roll out a new label and expand your reach into new markets. Get creative with how to show appreciation to members and offer special allocation offers to your most loyal customers.
Congratulations. You've reached that place all businesses strive to achieve, where you're asking, "What is next?" and not "How do I survive?"
Marketing flywheels offer a powerful framework for achieving long-term business success. Wineries can create a self-sustaining system that generates continuous revenue and customer loyalty by attracting, engaging, and delighting customers across all customer touchpoints. Your constant focus on delivering exceptional customer experiences will pay off and allow you to stand out in the competitive wine space.
With over 25 years of professional services experience, Bloom has helped businesses define their strategies, connect customers to brands, and generate momentum. Contact us for help utilizing flywheels today!
If you want to learn more about how to improve your marketing efforts, check out our articles on strategy, automation, and tactics.