Flip the Funnel is a book by Joseph Jaffe, a leading expert and thought leader on new media. It means that instead of putting a lot of effort in acquiring new customers by spending budget in mass media (which costs roughly five-to-ten times more than it does to retain an existing one), invest in the ‘right’ end of the funnel. Support your existing customers to spread the word as a multiplier for your business. The economic impact of an active, engaged and loyal customer is tremendous. The Harry Potter theme park is a great example of flipping the funnel.
Since the Harry Potter fans are known for their loyalty to the brand, the campaign used the impact of word of mouth to promote the new theme park. Their media experts chose seven popular bloggers and invited them for a secret midnight webcast, where they announced the new theme park. Quickly after the webcast, these seven fans blogged about the news. And then everything went incredibly fast. Within 24 hours, the news went viral reaching more than 350 million people. The use of social networking as a promotional tool for this campaign, was an unconventional and inexpensive way to spread the buzz.
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