Then again for your revenue stream.

When you're thinking about growing customers, nothing magic.

Sell, sell, sell.

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

So dealers might not have a physical storefront for end user customers, but retailers are all about main street and talking to your customers.

And their value proposition, as even they realized later, was pretty unclear.

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

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.

Credit companies send their customers monthly bills.

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

Let me say it again, waterfall development assumes you understand the customer problem and need on day one.

You cater an event where the cost to you was 200

What do you sell?

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

But this is, of course, an optimistic scenario. Let's think of other scenarios.

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?

We first started distributing and making physical products cars, food, utilities, etc. and we distributed them through direct sales force that is people you shook hands with, look in the eye and met.

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

The stock they sold buyers was a lemon.

And ultimately can they grow their customer base?

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

You are going to start thinking about, well, if I have a direct sales force, how much can they sell in dollars, or if I'm using an indirect channel, what's realistic number they sell for other customers?

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.

Sold

PHOTO RELEASE

You really don't know where those customers are until they're physically inside you channel considering the purchase, and then of course, when they click I'll buy it or tell a dealer I'll take the car, or in JetBlue's case actually say, I'll but this fair or Book a seat, you'll finally understand whether you have the order or not and that's what acquisition looks like in a physical channel awareness, consideration and purchase.

My dad sells tractors.

Many companies have huge databases of customer information.

That's your job as the facilitator and coach.

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

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 now they're in it together.

Instead of pricing based on cost,

I have no idea where my husband is.

We call it a select opportunity .

This is the PC guy over here.

I've got a fantastic idea for an incremental innovation to an existing product we sell through existing channels to existing users, and I can guarantee you get this much return out of it over the next three years.

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.

Our liquor license!

What's so awesome about a queensize futon sale?

This guy is a Bible salesman.

You will mainly be coldcalling potential clients.

On the other hand, low utilization let me pick another color will lead the prices dropping.

Oh, I'm in the selling game.

And at the end of the last video, not being a great businessman, I said, oh well, actually let me just raise prices.