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

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

All these right now are hypothesis, but pretty good starting points.

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.

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.

And so let's look at both of these get, keep and grow for physical and web mobile channels in a little more detail.

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

It's a big idea.

We got customers, acquired them, and activated them.

Today, we're going to be talking about customer relationships.

How we do that is the first thing we need to do is make sure our existing customers we've just gotten don't go away, and so if you're in business long enough, you'll start thinking about how to keep customers.

They run something called the loyalty programs.

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

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

And now they started to get a better understanding of what customer relationships were, about getting customers, keeping them and growing them.

Let's just take a look again if there's activities.

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

But for you to be a successful company and actually thinking about how much you could spend on them over here, you need to understand can I get them to spend more and more over time and how to keep them

And number 4. Access to customers.

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?

You've now sold these customers way back here under purchased, and you've kept them around with relative programs and product updates, but really what you'd like to do, understanding now that it's a lot cheaper to sell existing customers more stuff than it is to get new customers, is let's go try to sell them some stuff, and how can we do that.

They actually learned another alternative for sports jersey owners would be a monthly subscription and also a one time rental.

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

The lawyer has a lot of wealthy clients.

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

The number of tourists has increased greatly in recent years.

The next step in this funnel is remember we just talked about getting customers and let's talk about keeping customers.

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.

What is the competition? What are they charging?

Many companies have huge databases of customer information.

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

We all work on little laptops and try to move desks to change the way we think.

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.

I'm getting these updates or newsletters or something useful through the lifetime of the product and Smart Companies not only do loyalty and product updates, sometimes they send me newsletters and here's what's going on and here's whatever and how can we help you, etc.

Did you see how many clients Jane had?

You get 5 times more revenue from the same customers by just working on keeping these customers around.

Apple is one of the few, truly cares.

His eyes were strange.

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.

Keep

It wasn't.

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