We will take it to the potential customers.

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

Do you have some insight about technology and, again, the gains and pains that that will provide for customers?

X number of prospects equals X number of customers.

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

As I'm sure you know, Mr. Horn was our most important client.

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

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.

We have recently accepted a client who is VampireAmerican.

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?

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.

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.

In theory, understanding acquisition and activation seems pretty simple.

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.

If in fact, your conversion rate between acquisition activation could be increased.

And one of the things we need to understand is what's the archetype or the persona of our customers that we're actually wanting to get and so one of the things that's kind of hard for startups is to realize that getting customers isn't some abstract idea you really need to understand who your customers are and this is not just thinking about selling to consumers.

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

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

Well getting customers is just like it sounds.

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.

Well, 0.50 10,000, that cost me 5,000, but the goal isn't to just have people visit, the goal is to get them to the end of the funnel and at the end of the funnel,

I have no idea where my husband is.

So let's follow our Jersey Square team and see what they did with customer segments.

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

He found out emerson's client was dubaku.

And in this class, we're going to be talking about the first two steps, customer discovery, customer validation, the pivots that connect them, and then a few that are lucky.

In an existing market, I will likely know something no one knows.

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.

Well, hopefully it gets kind of fun because the real metric the way we kind of measure things, the language we use on the web is customer acquisition cost.

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.

You could say look, I performed services that will earn me 200 in the future

And if not, just don't give up and say, Well, it didn't.

Because no one, and that was a constant problem...

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

The answer is is having a customer archetyping might is really important for all of these

Pricing is kind of the tactics.

It's a big idea.

Apple is one of the few, truly cares.

At the end of the day, not only do you know about the pains and gains of these customers, but you specifically know who they are.

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.

And is it features that would delight them or performance or quality?

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.