You cater an event where the cost to you was 200

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

Information is power.

Next, they got out of the building again.

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

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.

Why do you want to think about keeping customers is that customers are a lot more expensive to acquire over here than they are to keep.

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.

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

For new customers, the store offers a one time discount of 3.

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,

So it's very important to them to track piracy exactly because of this, and the people who are buying, the pirates, are not their customers anyway, because their customers want the real deal.

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

That's how much a regular customer would have to pay.

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

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

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

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

I have no idea where my husband is.

We have recently accepted a client who is VampireAmerican.

Banks charge higher interest on loans to risky customers.

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.

So in month 1 you cater an even where the cost to you was 100

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

You cater an event where the cost to you was 200

We will take it to the potential customers.

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.

Now let's go to month 3.

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.

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.

Apple is one of the few, truly cares.

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

We got customers, acquired them, and activated them.

What's most important to us when we make a video is what the customer sees.

The other is you've got to have a constituency, you've got to have finance, and you've got to be able to raise awareness.

Well getting customers is just like it sounds.

You know, revenue stream.

In a web or mobile product, instead of building a physical prototype, you need to have a low fidelity app or website available for customer feedback.

You would be issuing orders from above.

Many companies have huge databases of customer information.

And number 4. Access to customers.

not what engineering or the founders thought

Then as we talked about earlier, how much will it cost to acquire a customer?

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.