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

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

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

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

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

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

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

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.

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

So again let's use our Jersey Square team as an example of what customer relationships might

They strive constantly to improve customer relations.

So now they're looking at industrial enzyme manufacturers, their key activities are R amp D, and production support is their next change.

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

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

You cater an event where the cost to you was 200

Nobody wants the U.S. monetary authority to check their relationship, to monitor their relationship with their clientele.

Just as a reminder, what the teams will be starting with in Week 1 is filling out the business model canvas and getting out of the building and testing their hypotheses about the value proposition, customer segments, and channel.

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?

So today, while we're talking about value proposition, value proposition works hand in hand with who your customers are, which we'll be talking about in the next lecture.

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

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

That's your job as the facilitator and coach.

Apple and the record labels was another example of a great strategic alliance, but Apple and Foxconn is a great example of a supplier and might, at times, actually be a good example of a joint venture as well.

Fashion week in New York, another example.

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.

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?

What is the competition? What are they charging?

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 last step is growing customers for the web mobile channels.

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

And the goal of all this is to actually define the customer persona or archetype, which is just a fancy way for saying

We've already talked about value propositions, customer segments, distribution channels, customer relationships, and revenue streams.

How do they currently buy and what's the revenue stream that's associated with these kind of pricing tactics?

Much like ranking ranking pain, I want you to think about ranking gains.

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

The sea is to fish what the sky is to birds.

Many companies have huge databases of customer information.

Another example of a customer segment was someone making new kite boarding equipment.

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

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

He found out emerson's client was dubaku.

Today we're going to talk about partners.

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

Not enough notes! You run out of room.

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