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How to improve your Sales model with the Flywheel?
The way successful enterprises do sales today has changed a lot. Since the apparition of the Flywheel model, the business world has begun to develop differently. Following our blog post of last week on the flywheel, we found interesting to dive deeper into the concept.
How the best enterprises do sales?
The enterprises that are the most successful today have built their business model on a common ground. They are offering products that aren't new on the market. It is not anymore a matter of selling a mind blowing technology. Those companies are actually focusing on other areas.
Take for example Shopify. This company isn't selling an innovative technology: it is a web shop builder. But what is making the success of the platform is the fact that it is very easy to buy it and to use it. It is because Shopify puts its efforts into improving the customer experience.
The idea here is that by offering the best experience, the customer will be delighted and will renew its subscription or buy again. Furthermore, the customer will become an ambassador of the brand and will attract new prospects.
That's exactly what the Flywheel model is about. A best practice to improve your business and your sales is to follow it.
The Flywheel model in Sales: how to apply it?
Adapting your sales processes to the best practices begins with thinking about the strategy and the objectives. In order to improve those, a deep understanding of the persona and of their state of mind when they approach the purchase and during this process is central. The following five steps must be taken in order to apply the flywheel model to your sales processes:
1. Look at the big picture. Define your buyer persona and its journey with your Marketing, Sales and Service processes.
2. Find out how your persona thinks, feels and acts when he is considering to purchase, is purchasing and uses the product. This will make it easier for you to adapt the sales model in order to improve your processes.
3. Identify the points that make your sales process good or bad. When do the prospects drop of? Can you do something to remove the obstacle? What makes it easier for your prospect to buy? Can you insist on those points?
4. Draw an action plan. It might be that you switch entirely your process because you find out that your persona wants to purchase easily online with not a lot of interactions, or the contrary.
5. Analyze the data you have. What are the best moments to engage with the customer? What are the mediums that get the more results?
Highlight on the alignment of customer-facing departments
Another important point is that in order to improve the customer experience, all the departments must be aligned, both in terms of objectives and of practices. It is essential that all of the services facing customers come together in the same effort.
This means that in order to improve your sales process, collaborating with the other departments is important. Rethinking the objectives and the processes, having in mind the buyer persona, must be done together. This way, this can be declined into specific action plans.
Want to know how to do this exercise in your company? Great news! We've prepared templates for you to use!