Then again for your revenue stream.

Sell, sell, sell.

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

Credit companies send their customers monthly bills.

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

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.

The stock they sold buyers was a lemon.

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

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.

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

You will mainly be coldcalling potential clients.

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.

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

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.

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

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?

Sold

PHOTO RELEASE

What do you sell?

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?

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

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

We call it a select opportunity .

It's a big idea.

Apple is one of the few, truly cares.

And ultimately can they grow their customer base?

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 like, you know what, we have to match his prices.

My dad sells tractors.

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 the reason why they're the sell side is because they're always selling you stuff.

But this time, we have resellers and the resellers don't work for us.

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

We will take it to the potential customers.

You ready to be a salesperson?

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.

This is the PC guy over here.

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.

You cater an event where the cost to you was 200

I have no idea where my husband is.

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