It's Time to Abandon the Sales Funnel. Scale Your Brand with a RevOps Flywheel.
The sales funnel is dead—well at least it should be. Yes, many companies love them, but the reality is, that building your brand with a lead funnel approach is a lot like a dog chasing its tail. It requires a lot of energy, for short-term results. The second you stop, the momentum stops, and you’re left feeling unstable and dizzy. If that isn’t enough, according to Forrester, less than one percent of the leads that come out of the bottom of that funnel will be loyal clients. That’s a lot of time, energy, and money for a few long-term results.
So, if the sales funnel is dead, what should you focus on? What will build brand loyalty and generate revenue growth with less effort? A flywheel. Unlike a funnel, a flywheel will keep going once momentum has been applied, it’s effortless. The idea of the flywheel is that your business will grow naturally, and things will just fall into place—it’s like you are getting lucky.
The funnel makes your clients an afterthought, while a flywheel, puts them and their experience at the center. It’s a shift from quantity to quality. It’s a shift from focusing on lead volume to optimizing your processes to ensure the client experience is as seamless as possible which generates repeat clients and loyal brand advocates. In a study done by the consulting firm, Bain and Co, they found that just a five percent increase in customer retention can lead to 25-95 percent gains in profit.
Many companies lack a single source of truth--marketing, sales, and client engagement all have their own data gathered using different sources and different definitions. So, how do you know who is right? You can’t.
This is where RevOps comes into play. RevOps or Revenue Operations solves the problem of competing and misaligned teams by becoming the "truth-teller" of the company. It ensures the numbers are clear, standardized, and no longer a matter of opinion allowing teams to focus on solutions to problems instead of fighting over whose data is right.
If you are looking to scale your business and want to be a “lucky” brand in a post-COVID world, it’s time to shift your focus from quantity to quality, from funnels to flywheels, and from isolated to aligned sales, marketing, and client experience teams.
Omicle delivers brand clarity, marketing strategy, and operational efficiency to prepare leaders to scale their business. If you are ready to scale your business, contact us today to get started.
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