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When it comes to promoting your company online, there are numerous steps that can easily overwhelm your marketing team. Publishing content on a scheduled basis and tracking analytics is time consuming, to say the least. Another challenge comes from promoting your content and offers to the right people, based on their stage of the buyer’s journey. This is where the inbound flywheel can be a vital component to attract, engage, and delight your leads and customers.
We’ve previously shared the significance of the inbound flywheel and how it can benefit b2b SaaS companies. To best prepare your company for the next quarter of 2019, here’s how the inbound flywheel is making an impact in b2b marketing and sales.
The flywheel model provides benefits for all aspects of the customer lifecycle
There is more to b2b marketing than driving someone to a sale; and the flywheel understands the significance of nurturing customers and gaining referrals. The old marketing funnel became more outdated as marketers realized that it was neglecting key stages in the customer lifecycle. In 2019, the way to reach customers at each step of their journey is through attracting, engaging, and delighting.
You start by building awareness in the Attract stage, which can be done through consistent blogging and sharing content. Then, you begin tackling the conversion process in the Engage stage. You may want to try communicating with leads through social media messaging, emails, or a live chat feature if your company has one. Use calls-to-action, forms, and downloadable offers to gain contact information. Lastly, nurture leads in the Delight stage by responding to their challenges or concerns and offering them enough value.
In 2019, the cost to retain customers isn’t as expensive as you think
For some b2b marketing companies, trying to support current customers, while simultaneously generating new leads, can be a massive undertaking. However, in a recent article from Forbes, they express that gaining a new customer actually costs far more than retaining a current one. That’s not to say you shouldn’t continue looking for additional customers; but it does put into perspective that retaining your customers is still an important and viable marketing method.
So how does this connect with the inbound flywheel model? Well, the flywheel is all about building momentum in the buyer journey; it doesn’t stop spinning when someone reaches the end of the sales cycle. Unlike the old sales funnel, the inbound flywheel is frictionless and allows marketers the opportunity to provide value and nurture even after conversions are made.
Building trust in your b2b company isn’t easy; but the flywheel model helps
It can be difficult for b2b companies to maintain trust with customers because, unfortunately, not many people tend to put their faith in businesses. According to HubSpot, 55% of customers have stated they trust businesses they previously purchased from less than they used to. This is further emphasized when 81% say they trust a recommendation from a family member or friend more than from a business.
While the funnel didn’t account for third-party influencers and outside sources that impacted a purchase, the inbound flywheel recognizes these as key elements of a customer’s experience. The way you interact with and provide value to your existing customers has a positive impact on the way new leads see your b2b company and brand. If your customers are sharing their experience with your brand to others and promoting it in a positive light, it can create new marketing opportunities for your company.
These are just some of the many influences that the inbound flywheel model has had in b2b marketing for 2019; and we can only expect its impact to increase over time. When it comes to b2b marketing and branding strategies to nurture leads and generate new ones, thinkdm2 has you covered. Our experience in digital marketing, brand development, and website development will ensure your company is on the right track with your business strategies. Contact us today for more information!