I enjoyed reading this. However, I'm of the opinion that the flywheel is only a sugarcoated word for Loyalty (the last stage in the marketing funnel). I mean, that's why it's called loyalty, right? And there are loyalty programs that even further solidifies this.
Glad you enjoyed reading it. Loyalty is definitely important in the flywheel. But the main difference between a flywheel and the funnel is that it is a recurring cycle (so growth loops are really important here). Flywheels create a loop such that there is no "last funnel stage" and users are prompted to bring in other users and spend more money.
The flywheel can also determine how different teams work together. In the funnel, it's largely for marketing and doesn't consider other factors the customer faces as they move through the phases (including comms from other teams). In the flywheel, every team in the company contributes to each phase and work together with the customer at the center.
I enjoyed reading this. However, I'm of the opinion that the flywheel is only a sugarcoated word for Loyalty (the last stage in the marketing funnel). I mean, that's why it's called loyalty, right? And there are loyalty programs that even further solidifies this.
Glad you enjoyed reading it. Loyalty is definitely important in the flywheel. But the main difference between a flywheel and the funnel is that it is a recurring cycle (so growth loops are really important here). Flywheels create a loop such that there is no "last funnel stage" and users are prompted to bring in other users and spend more money.
The flywheel can also determine how different teams work together. In the funnel, it's largely for marketing and doesn't consider other factors the customer faces as they move through the phases (including comms from other teams). In the flywheel, every team in the company contributes to each phase and work together with the customer at the center.
Hmm. Okay, I get it now.
Great work Lade. 👏