WEDNESDAY, APRIL 1, 2020:
Walk onto the marketing or sales floor of any modern office and chances are you’ll see a funnel, hear people talking about a funnel, or be asked to draw a funnel yourself. For years, companies have structured their business strategies around the funnel — and it worked. But recently, the funnel has begun to fail marketers, salespeople, and business leaders alike. Today, customer referrals and word-of-mouth have become the largest influence on the purchase process, which means the funnel has one major flaw: It views customers as an afterthought, not a driving force. You see, funnels produce customers but don’t consider how those customers can help you grow. That’s where the flywheel comes into play.
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