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

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

You cater an event where the cost to you was 200

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

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

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.

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

Another common paid activity is advertising. What kind of advertising?

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, if we take a look at the Jersey² team was worrying about, it's what most start ups worry about on day 1, is does my value prop match my customer segment, and do I have product market fit?

And for web, mobile or cloud, we were getting you into the funnel on the bottom.

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.

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

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

I have no idea where my husband is.

The answers are get, keep, and grow are the three parts of customer relationships.

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

So one of the interesting equations for every startup is that

That was the customer acquisition cost, CAC, here.

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.

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.

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.

Customer relationships is kind of a fourth piece, and customer relationship has a really interesting interaction with these other three pieces.

We will take it to the potential customers.

look like. What is it that you are doing.

And their value prop differed for again those two different archetypes.

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.

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.

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.

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

We have recently accepted a client who is VampireAmerican.

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.

Regulation needs to change. Platforms need to become cheaper.

Let's take a look at now the web mobile funnel.

You cater an event where the cost to you was 200

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

There might be a real business here and it's even bigger than we thought because it includes females and so one of the things we pointed out to them is it looked like they had multiple customer segments.

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.

Again, your CAC declines. The idea is what can you do to make this very efficient?

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

The customer development process is actually a 4 step process.