One of the tools Infusionsoft is using the help small businesses grow is a concept called the Perfect Customer Lifecycle, which takes a holistic approach to sales and customer service. During his presentation at ICON, Infusionsoft's annual conference, Geoffrey Moore, author of Crossing the Chasm among other titles, showed us another frame for the PCL and a way to “spin a viral following” using the Four Gears model. Moore said that some gears will always be slower than others. The slower gears are power gears (enlistment and engagement) and performance gears (acquisition and monetization); and the power gears drive performance. The power versus performance is a huge challenge for small businesses, Moore said. Unfortunately, many entrepreneurs allow their fear to take over and they end up neglecting the power gears. Small-business owners have to shake themselves out of that fear. The key to spinning a viral following that turns into business growth, Moore said, is to get those power gears going faster so their momentum feeds the performance gears. Here’s how:
Engagement to Drive Monetization
- You must be present to win; go where the market is.
- Provide content that matters.
- Personalize as much as possible.
- Be consistent and maintain continuity at the right rhythm.
- Respond quickly
Enlistment to Drive Acquisition
- Look out for and identify super fans.
- Make yourself accessible and listen.
- Reward customers in ways that really matter.
- Empower them to do cool things; this is what turns them into super users and capture the attention of their friends.
You’re probably wondering how all of this ties into the Perfect Customer Lifecycle. It’s simple, really:
- Acquisition = attract & capture
- Engagement = nurture prospects
- Monetization = convert, deliver, satisfy, up-sale
- Enlistment = get referrals
No matter what you call it, those power gears are still present and have to be spinning fast if you want to grow your business virally. Are you ready to use these concepts in your business?