Dave brings up the concept of the Marketing Flywheel (as opposed to the Marketing Funnel), begging the question, are we, as marketers, shooting ourselves in the foot by focusing solely on driving customers through the top of the marketing funnel?

Story here: https://www.newbreedmarketing.com/blog/the-marketing-funnel-is-dead-and-the-flywheel-has-arrived

Watch the full episode here: https://marketersdrinkingbeer.com/show/003/

Video Transcript:
– I saw an article recently by New Breed. It was a blog post they wrote about the death of the marketing funnel. So, if you think of the traditional marketing funnel going like this. You know, leads come in the top, they go through a process, and they come out the end a customer, and they get, basically, forgotten about after that. Many companies will forget. Once you become a customer, they don’t focus enough on keeping you as a customer, or keeping you happy or excited, or whatever, about the product. So, it tends to favor the next deal over your current customers, right? ‘Cause you’re always focused on feeding the beast, right? Gettin’ more into the top of the funnel. So they’re suggesting coming out with a concept, instead of a funnel, a flywheel, which is a circle. Where the customer’s in the middle. You have marketing, sales, support, all going in a circle around the client. So, you’re always customer-focused, as opposed to just sales and marketing, and oh, you guys deal with them now, ’cause they’re a customer, and I’m always startin’ for the next guy. Right, ’cause, I find more and more, as more systems come together, that whether it’s a marketing, a sales, operations, customer support, whatever it is, that it’s part of the entire journey. And so, it’s getting harder and harder to just say, we do marketing and they do sales, right? So, it’s sorta an interesting concept, the death of the marketing funnel.

– Very interesting. And I almost can see that the funnel comes down like this, becomes customers, and then it goes back. It’s like repeating funnels, in a sense.

– Yeah.

– Very interesting.

– We were talking about this earlier and I read this article. What confused me was that the marketing and sales part still requires a funnel.

– Yeah.

– I mean you’ve still got a conversion rate that’s taking place. That’s the whole reason for the metaphor of the funnel.

– Right.

– So, it–

– But I think the concept is that it’s not a, you know, in, go through the process, and done. It’s a continual process. So, I think you’ve got the funnel still happening, maybe at the top, getting new customers, but then, once they’re there, you’ve gotta be focused on them. Maybe there’s a combination.

– It’s a combination.

– Okay, Tom, you’re up.

– So, I didn’t bring my goggles tonight.

– Dammit.

– My virtual reality goggles, but

– Praise the lord.

– We did not have that–

– continuing on that theme.

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