Minbox target customer5/6/2023 ![]() How To Build A Powerful Flywheel Model For Your SaaS Business But also to ensure that your SaaS solution actually brings more value to their businesses and/or their lives.Īnd when users do become passionate advocates of your SaaS product, it would drive even more customer acquisition through referrals and word-of-mouth.Īs they bring new customers to your SaaS company, the cycle starts again and the flywheel gains more momentum. For your users to delight in your product, you should be able to not just fix any issues they encounter. That’s why the goal for this stage is to turn these satisfied users into loyal customers and even brand advocates.Īgain, customer support and customer success come into play here. Rather than just doing the bare minimum to keep your customers, you need to kick it up a notch and make them happy about using your SaaS product. Speaking of which, let’s move on to the next stage of the flywheel SaaS model.įor the flywheel model to really work, your customer retention strategy shouldn’t just be about retaining your customers. Remember that the flywheel model will only work if you have successful and happy customers. The Engage stage is critical in the SaaS flywheel because it lays the foundation of a long-term relationship with your customer. That means your customer support and customer success services would be crucial at this point. What’s more, you also need to ensure that they have minimal issues along the way and that they reach their own goals with the help of your Saas product. You have to make sure that every new customer learns the ropes on how they can use and maximize your SaaS product. This stage is all about providing an excellent product experience for your customer and giving them a headstart on using your SaaS solution.įor almost all (if not all) SaaS businesses, a thorough and engaging user onboarding process is non-negotiable in this stage. Once you acquire a new customer, you need to engage them with your SaaS product. Whatever strategy you use to gain new customers, make sure that you understand your target audience and how to best reach them. Some also use a sales-based approach in generating leads and nurturing them through email or other communication channels. Most SaaS businesses use an inbound marketing strategy, which attracts new customers through organic channels, such as content marketing and social media marketing. So we won’t dive into much into detail about this. So at this stage, your marketing strategy is one of the most important factors for customer acquisition.Īnd boy, there are A LOT of factors that go into customer acquisition. Especially if you’re a SaaS startup or still in the hyper growth phase, you can’t retain customers if there are not customers to retain in the first place. In fact, this stage is crucial as it sets the foundation for the rest of the SaaS flywheel stages. The Attract stage, as you may guess from the name itself, focuses on acquiring new customers.Īlthough, as we mentioned earlier, happy customers can help with customer acquisition, you still need to make your own efforts to get new users. Let’s talk about the different stages of a SaaS flywheel: One thing to note, however, is that the flywheel model takes a more customer-centric approach. If your customers are happy enough with your SaaS product, they will recommend it to others or at least give positive reviews about it.Īs a result, it can bring a steady stream of new customers, creating a continuous cycle of growth.īy focusing on providing a great SaaS product and an awesome customer experience rather than relying solely on customer acquisition, the flywheel SaaS model can help you build sustainable, efficient, and effective growth for your company.Īlthough the SaaS flywheel is more cyclical rather than linear, it is also made up of stages that are somewhat similar to the SaaS sales funnel’s stages. Much like a mechanical flywheel, the SaaS flywheel involves gaining momentum through satisfied customers. Now, with the exception of the “releasing” part, this is also how the SaaS flywheel model works.Ī SaaS flywheel, also sometimes called a marketing flywheel, is a model that describes a more cyclical process of a SaaS company’s customer acquisition, retention, and customer advocacy. It keeps on going and going until the energy gets released to to power either a machine or an electricity generator. When you apply force to it, either manually or using a motor, the disc gains momentum and keeps spinning, storing the kinetic energy. It’s this mechanical device made of a heavy wheel or disc. ![]()
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