Sales Funnels Are Dying and Being Replaced By Marketing Flywheels
Updated: Dec 18, 2021
Attraction Based Marketing. What Does It Mean?
Every decade consumers catch on to marketing and advertising tactics that are meant to increase purchases. Once this happens, a new strategy must be introduced.
The funny thing about this flywheel approach is it works in the favor of the consumer. As you can see above, the sales funnel approach is known to everyone and has been around for a long time.
It was almost like shooting a shotgun in every direction and seeing who you could hit. Once they were hit, they got into your funnel. They would eventually move down the funnel and out of every 100 or so, the typical conversion would be 10%.
Well, if it worked so well, why are marketing companies changing this approach?
The consumer. It has become more and more difficult to get the person who will make the purchase to click the ad or even watch it anymore. So, what do we do? Give up?
No. The marketing and adverting needs to change. All in the favor of today's consumer.
STOP THE ADS, START THE ENGAGEMENT
A bombardment of ads will prove to be ineffective. This in no way means to turn off the ads. It refers to the countless 50% to 99% off today only ads we see often and ignore.
These types of ads have potential clients going crazy and ready to pull their hair out. As a business, you can spend a ton of money on getting your website designed and optimized, but it will prove of little worth is consumers are turned away from your ads.
Focus on creating ads with relevancy, ads that attract the consumer and spark an interest in what it is you do. If your target audience are millennials or a younger generation, play on items that are easily recognizable to them, such as tinder's swipe feature, tiktok dances, and the every going feud of Popeyes and Chickfila's chicken sandwiches.
FLIP THE STRATEGY: ATTRACT ORGANICALLY
A consumer must first know about you first before buying. While most people are looking for a direct approach, such as an ad, direct call or cold email, these can be ignored and never be seen by the potential client.
However, there are so many questions you can help answer about your product or industry that it allows you to create content answering such questions.
The goal then becomes to have the people searching for your products to come across
your video solving a smaller issue they may have.
For example, let's say you are a coffee manufacturer. You want to up your coffee sales but the cost per click is shooting up constantly. So what can you do?
Make a YouTube channel in which you answer questions like: How to tell a premium coffee from a cheap one? How much caffeine is too much caffeine? And why is coffee better than tea?
When you put video content out like this that helps people with something specific to your business, it leads them into your "pipeline" on their own. They did the warm introduction by looking up something that kind of had to do with what you sell.
The more you help, the easier the sale becomes. We feel gratitude to those who help others, before helping themselves.
COMBINE SHORT TERM AND LONG TERM MARKETING
The best types of businesses have this strategy, and it is finally hitting the masses. When you are able to put short term, direct advertising methods alongside long term branding efforts, you get magical results. Sadly, we do not see this and thus why we need to step away from the traditional funnel method.
Russell Brunson came out a few years back and really pushed the clickfunnels method, by bringing in one person to w website based on an ad, then selling one product, with an upsale if possible.
You have to ask yourself though, with all the changes in privacy on phones and the consumers starting to despise ads, how much longer will a marketer be able to bombard a person online with a potential deal before they say enough?
The time is now to make the change in your marketing strategy. The flywheel is the way of the future. Be an early adopter and see the results for yourself.