{"id":825,"date":"2022-07-26T13:53:19","date_gmt":"2022-07-26T13:53:19","guid":{"rendered":"https:\/\/www.stratitude.co.za\/blog\/?p=825"},"modified":"2022-07-27T08:43:15","modified_gmt":"2022-07-27T08:43:15","slug":"how-to-use-the-flywheel-model-to-create-compelling-video-content","status":"publish","type":"post","link":"https:\/\/www.stratitude.co.za\/blog\/how-to-use-the-flywheel-model-to-create-compelling-video-content\/","title":{"rendered":"How to use the flywheel model to create compelling video content"},"content":{"rendered":"\n

Written by: Ch\u00e9lin Ramos, Art Director at Stratitude<\/em><\/p>\n\n\n\n

If you haven\u2019t heard the term \u2018flywheel\u2019 in marketing, let me fill you in. The flywheel is a concept that originated from HubSpot, to better contextualise how the customer lifecycle has changed over the last few years.<\/p>\n\n\n\n

As fake news and sensationalised sales claims continue to plague our information environment, customers have grown sceptical and are thereby conducting their own research \u2013 asking networks for advice, reading online reviews, searching for comments on social media \u2013 to validate information. More research equals more knowledge, more knowledge equals higher expectations. And one of those expectations is a business\u2019s ability to care beyond transactions.<\/p>\n\n\n\n

Remember the marketing funnel? For years, businesses have structured their business strategies around it. Not to say it didn\u2019t \u2013 or doesn\u2019t \u2013 work (the flywheel does not replace the funnel), but today customers have more power and influence over your brand than you do. What a customer says about your business is far more valuable than anything you have to say about yourself, and the traditional funnel doesn\u2019t factor any of that in.<\/p>\n\n\n\n

The Harvard Business Review reported that 57% of B2B purchasing decisions have already been made before customers have had any contact with the business in question. Third-party review sites, peer-to-peer recommendations, and word-of-mouth have already given buyers everything they need to know. Which means the traditional funnel has one very large flaw: Customers are viewed as an afterthought. It\u2019s a model that simply produces customers – it doesn\u2019t consider that customers can help your business grow.<\/p>\n\n\n\n

In comes the flywheel.<\/strong><\/strong><\/p>\n\n\n\n

(Now try to stay with me.)<\/p>\n\n\n\n

A flywheel is an energy-efficient wheel used to store energy based on how fast you spin it, how much friction there is and how big it is, the key here being energy. Say we compare customers to energy; the funnel and the flywheel begin to look very different. In the funnel, customers are an outcome only, which means all the energy you put into acquiring that customer is wasted if you don\u2019t convert them. In the flywheel, customers are<\/em> the energy.<\/p>\n\n\n\n

When 81% of buyers are trusting their families\u2019 and friends\u2019 recommendations above the advice of any business, the flywheel considers this constant flow of conversation and factors in the importance of customer experience. Deliver an exceptional customer experience and their positive energy will push your business forward, causing it to gain momentum. The happier the customer, the more referrals they will generate and the more sales they will drive. Happy customer > referral > sale > happy customer > referral > sale > happy customer > referral > sale\u2026 spin, spin, spin.<\/p>\n\n\n\n

Now suppose someone came along and asked, \u201cWhich push caused this thing to go so fast?\u201d There is no real answer; it\u2019s a nonsensical question. Was it the first push? The third? The hundredth? In truth, it was all<\/em> of them added together – a constant flow of customer experiences working together to drive your business forward.<\/p>\n\n\n\n

If you\u2019re still with me, you\u2019re probably wondering what this has to do with video marketing. Everything actually. <\/strong><\/strong><\/p>\n\n\n\n

We know it takes customer experiences to make the flywheel work, but how do we create those customer experiences and where do they fit in? To answer that, we must look at the different stages of the flywheel.<\/p>\n\n\n\n

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There are three phases: Attract, engage, delight. Think inbound marketing \u2013 we use an effective marketing campaign to drive quality traffic to a site to increase reach, engagement, and conversion rates through \u201cowned\u201d and \u201cpaid\u201d media. And what\u2019s the most effective way to do all of that in 2022? Video marketing. Simple, right? Not really.<\/p>\n\n\n\n

Companies often jump into creating videos without considering their audiences. What are their pain points? Their habits? Their likes and dislikes?<\/p>\n<\/div><\/div>\n\n\n\n

Video marketing isn\u2019t something that can be done on a whim. Through every phase of the flywheel, a well-thought-out video marketing strategy must be put in place. There are too many components to consider to ensure a memorable customer experience. Understand the purpose of each phase and you will be able to identify the video type<\/u><\/a> to drive that purpose and get your business spinning.<\/p>\n\n\n\n

PHASE 1: ATTRACT<\/strong><\/p>\n\n\n\n

This is your first point of contact \u2013 the phase that converts strangers into visitors. It\u2019s a crucial step. Here, potential customers are searching for a solution to their challenges and deciding which business provides it. So, your video should introduce who you are, address a problem and demonstrate how your product or service can help. You want to attract their attention, provide unsolicited value, and start building a relationship before you ask for anything in return.<\/p>\n\n\n\n

Which video should you use?<\/strong><\/strong><\/p>\n\n\n\n

The goal of this video is to expand reach and build trust. If you are looking to garner shares, you\u2019ll want to create something impactful and entertaining, and probably stir a bit of emotion. All the while providing enough important information to set yourself up as an authority on the topic. For phase 1, it is recommended to use:<\/p>\n\n\n\n