![]() ![]() Second, negotiating special deals takes your team away from doing the type of work that’ll pay dividends over and over – which leads me to… Lesson 3: Treat human interaction as a bugĭon’t get me wrong: I love our customers and love talking with them. It encourages them to delay their purchase in the hopes of getting a better price later. First, deals and discounts train your customers not to take the information on your website at face value. Price your product competitively and stand by your price. Anyone interested in trying a product can just go ahead and see if it’s a good fit.Įvery customer should get the same price no matter what. At that point, there doesn’t even need to be a conversation. Atlassian’s products can support teams of tens of thousands of people, but we offer most of them free to teams of 10 or fewer. Just get people into the product as quickly as possible. Lesson 2: Price for volume and consistencyĮntry-level pricing should be low so as to remove friction. Make the purchase process as simple and familiar as ordering from Amazon.Get rid of most forms, gates, and other barriers to information.Let people educate themselves about your product through online content.And when I say “get out of the way”, that means optimizing for customer self-service: All you need to do is get out of the way. Making things “easy” for customers at every stage of their lifecycle is a brutally difficult undertaking. A flywheel business model doesn’t work well for products that are custom-built and/or very expensive.ģ. We do flywheel GTM well, but we’re not perfect. Now let’s take a deeper look at how a flywheel can do the same for yours.ġ. These forces build both momentum and stability for our business. Search engine optimization, a “freemium” option, and an ever-improving user experience are among the many forces we apply to our flywheel at Atlassian. The same holds true for our flywheel business model. And you make it spin faster by removing friction and applying force. The faster a flywheel spins, the more energy it stores. Flywheels (and I’m talking physical flywheels here – the kind used in motors or rowing machines) are incredibly efficient at storing and releasing energy. Notice how many times I used the word “easy” there? Reducing friction is key to growing your business with the flywheel model. Your goal here is to turn users into fans, who will recommend your product to their peers, friends, and even to perfect strangers through online reviews and social media. Offer documentation and knowledge bases that help customers get more value out of what you’re offering. Delight – Design your product to be as easy to get started with as possible.Nurture campaigns, free trials, and a self-serve purchase flow are your best friends in this phase. Engage – Now that you’ve made a good impression, make it easy for prospects to learn about your product on their own terms in and their own time, and ultimately buy it.Focus on earning their attention rather than forcing yourself into their line of sight. SEO, social media, targeted advertising, and live/virtual events all have a role to play here. Attract – Draw prospective customers to you with helpful content that is easy to discover.It’s a virtuous cycle that has three major components: And after working with it for close to 10 years, I’ve learned a few lessons that I hope you can use to grow your business. Whether you’re a startup trying to expand or an established company looking for a more efficient go-to-market (GTM) approach, the flywheel model is the best model I know of. ![]() Flywheels attract and engage customers 24 hours a day – they’re literally working while you sleep. (Full disclosure: we have not tested that hypothesis by, say, turning off our marketing spend altogether – though I like to bring it up occasionally with our CMO just to get a reaction.) So I don’t lay awake wondering how we’re going to get the next batch of customers into Atlassian’s sales funnel. They’ll even keep spinning on their own for a while. The great thing about flywheels is that once you get them going, it takes relatively little effort to keep them spinning or to make them spin faster. How do I sleep so soundly? Because at Atlassian, we use the flywheel effect to grow our business. My weeknight sleep log as Chief Revenue Officer at Atlassian, where I’m responsible for keeping our revenue trending up and to the right. ![]()
0 Comments
Leave a Reply. |