Many companies have huge databases of customer information.

And in value proposition, the goal of this is to find out that minimum viable product.

By now, you're intimately familiar with the business model canvass.

Now we finally come to the last part of the business model canvas.

In customer relationships all the get keep grow metrics, some of which we talked about, some of which you'll discover, what were the customer acquistion costs?

So on day one, these were their initial hypothesis coming into the class.

Let's go to month two

Now if you remember we started here on the left. We didn't earn and paid media.

As was simulated, the value proposition includes all the features of your product but also the pains and gains you're solving for the customer segment and that's where the market goes.

So, while the goal in value prop is to figure out the MVP, yes, we il see later the goal in customer segments is to figure out who and what the archetype of the customer is.

Instead of pricing based on cost,

You cater an event where the cost to you was 200

I have no idea where my husband is.

So in our last lectures we talked about value proposition, customer segments, distribution channels, customer relationships get, keeping and growing customers.

Apple is one of the few, truly cares.

So in the last lecture, you remember the business model canvas, all the 9 components of a startup.

They could tell you that I want bigger, faster, cheaper status quo.

Next, they got out of the building again.

Here's your client list.

Get is how you actually acquire customers and get them to purchase your product.

This is what I called the you should be so lucky to have this problem part of the funnel, and that's how you grow the customers you have.

If we now do the math, we can now see it cost me 100 to acquire one paying customer.

Why do you want to think about keeping customers is that customers are a lot more expensive to acquire over here than they are to keep.

JU That's a good question, and we ask ourselves that every day.

Many of our clients are AfricanAmerican.

We have recently accepted a client who is VampireAmerican.

A tech company's one of my clients.

Most of my clients are married.

Because no one, and that was a constant problem...

It's a big idea.

That's your job as the facilitator and coach.

We've got customers.

Who do you do that for?

Defense department's largest contractor.

He's not the client.

So let's follow our Jersey Square team down and see what they've done for customer relationships.

But you know what? I might know something that my competitors don't know.

And number 4. Access to customers.

So one of the interesting equations for every startup is that

That was the customer acquisition cost, CAC, here.

I mean how do they hear of our products, how do they know about you, and as we'll see later one of the interesting things is there are some customers that are users like in Google

What's most important to us when we make a video is what the customer sees.

Who are your key partners and suppliers?

Let's take a look at the next step in searching for a business model, and that's customer validation.

The customer development process is actually a 4 step process.