What product or service are you building?

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

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

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?

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

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

You cater an event where the cost to you was 200

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

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

So one of the interesting equations for every startup is that

That was the customer acquisition cost, CAC, here.

Who do you do that for?

That's your job as the facilitator and coach.

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

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

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.

He's not the client.

Male and female and they kind of were closer to 18 30 and they were casual fans.

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

It's exactly the same idea we might want to offer loyalty programs, contests and events, blogs, RSS and email, or social media all designed to engage customers.

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.

The answer is simple math.

Here's your client list.

This last step is growing customers for the web mobile channels.

So let's follow our Jersey Square team and see what they did with customer segments.

look like. What is it that you are doing.

Another key component of understanding customers is understanding customer gains, which is a fancy way for saying what are the benefits that customers expect, or desires, so besides the jobs they want to get done what do they want to gain by using your product or service?

How do you know which one to use?

Instead of pricing based on cost,

Many companies have huge databases of customer information.

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.

I have no idea where my husband is.

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

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.

Regulation needs to change. Platforms need to become cheaper.

Our new contacts will give us access to bluechip clients, national governments...

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.

And in this class, we're going to be talking about the first two steps, customer discovery, customer validation, the pivots that connect them, and then a few that are lucky.

And so they figure out how to sell existing customers more products.

So the answer is for the linked in, there are two sides to this market.

I remember when Gottfrid said

You could say look, I performed services that will earn me 200 in the future

Even though on day 1 you're not thinking about keeping customers because you're desperately worried about getting them, just understand the next thing you're going to be doing is worrying about how to keep your most valuable customer.

If you have world's most perfect business model, investors would love to see this number much bigger than this number and so what you want to look for is a well balanced model that takes into account how much you need to acquire customers but how much ultimately you'll extract from them over the lifetime.