How can you apply flywheel thinking to your company’s budget?
- By investing as much money into things that drive customer happiness, such as support teams and product improvements, as you do into acquiring new customers through marketing and sales.
- By making sure funds are evenly distributed to each section of the flywheel. Marketing, sales, and customer support should each have equal proportions of the overall budget.
- If your flywheel is truly successful, you won’t need to allocate resources to marketing at all because customer word of mouth will provide all of your new prospects.
- If your flywheel ever slows down, you can speed it back up by funding more customer discounts.