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?

Next, they got out of the building again.

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.

So it's very important to them to track piracy exactly because of this, and the people who are buying, the pirates, are not their customers anyway, because their customers want the real deal.

Then as we talked about earlier, how much will it cost to acquire a customer?

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

Apple is one of the few, truly cares.

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

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

Many companies have huge databases of customer information.

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.

Here's your client list.

A photo finishing store charges customers a rate of 0.29 per photo to print pictures.

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.

Hopefully in the last lecture you start thinking about the cost of you channel how many customer activations, how much it will cost to get customers into my physical store or my virtual website.

So in month 1 you cater an even where the cost to you was 100

We've got customers.

You know, revenue stream.

For new customers, the store offers a one time discount of 3.

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

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

We were all working our way up call sheets to sign clients.

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.

Well, he went to prison to protect a client.

Because if you think about it, you've been working hard on value prop, and you've been working hard on customer segments and customer acquisition and activation and channel.

The lawyer has a lot of wealthy clients.

What we now know is that the founders need to run what's called the customer development team.

We talked about value proposition, we talked about customer segments, we talked about channels, but today we're going to focus on customer relationships.

Well, 0.50 10,000, that cost me 5,000, but the goal isn't to just have people visit, the goal is to get them to the end of the funnel and at the end of the funnel,

Another great example is Fidelity.

The company always strives to satisfy its customers.

And number 4. Access to customers.

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

Let's just take a look at quickly a web example in getting customers, you're going to be o worrying about how do I acquire them that is how do I get them even to my website, how do I activate them that is how do I make them do something, and then later on we'll see after I got them how do I keep them around that is how do I not lose them through attrition and churn and then what can I do once I have customers to make them spend more money or use my product even more.

Let's go to month two

Those children are potential customers.

Show them the grumpy employees.

I want them to either pay for the product or sign up for something and become a user.

Once I understand who my archetypes or persona is, the next thing I want to figure out is how do I get them in to this funnel.

Now, one word of caution.

It's a big idea.

One of the most important metrics to think about now that we have an end to end funnel is something called lifetime value and a lifetime value LTV is not your lifetime but your customer's lifetime.