If you have an application that meets your Target Market needs, then you must look into these tips to scale your ARR to the next phase of growth.
We all know Annual Recurring Revenue is the most important metric that holds every Web Applications, Software as a Service Model Business and a lot more. And for all this to come under one umbrella you need to come up with strategies to capture and nurture leads. In all cases you need to keep the momentum going for leads. This is where you need to implement something better than funnels, moreover, a flywheel strategy.
Flywheel strategies start with attracting strangers to your Business Model, this is where your target audience comes to meet with your product or service. This phase should be strong enough to coax the audience to visit your landing page. The audience you attract must be targeted enough to watch your webinars or clientele that explains your growth and how your clients are benefited with the help of your business model.
The clients that get hooked to your attraction stage are automatically driven to the next stage, the stage where you engage your prospects. At this moment of time your so-called stranger leads will have been converted to prospects. Now this is the point at which you need to engage with your prospects, try to ask them questions and more information about their business models, this can then be pushed to the next level, which is the engagement stage. The stage following this is the delight stage and the point at which your prospects are turned into customers, the most important and crucial step of generating leads and retaining those leads which are customers at the end of this process.
This is a point where your customers get delighted by the experience provided to the user, a remarkable customer experience is always something that helps you retain your customers. Clients you work with, always get your business referred to their network. If you treat your customers with paramount importance, your business gets promoted organically among your target audience. Promoters of your business are already available in the initial phase of the target audience you own, and re-targeting of your business must be made to this group to leverage your ad strategy effectively.
The main advantage of using a flywheel is basically the momentum you get when implementing the lead generation process. All the leads that come in are never lost, they are fed into a wheel where the momentum never stops and the prospects are converted into customers which never leave the service. This in fact will lead to a huge conversion rate for your lead generation process when compared to funnel. Rather than eliminating unwanted leads in the Funnel lead generation process, here you will get the chance to retain customers. In funnel, when you capture leads and nurture them, parallely you are training them and creating an awareness which will be lost after a couple of months. On the other hand you will be able to create a short term effect with a viable investment. But when you look into the Flywheel process you will see the retention of leads that comes in and on-the-way conversion of prospects to customers.