If you wanted to get fancy, this is a little bit inaccurate when the customer ordered less than 10 photos because, let's say the customer orders 10 photos.

So what we could do if we wanted to make this a little bit fancier, we could say that a new customer would pay and then we can say that's y, so y is equal to 0.29x minus 3 if x is greater than 10, if the guy or the gal orders more than 10 photos.

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

Manage bibliographic databases

You might actually be able to get what's called the lease lines, so you don't have to pay cash for them.

It doesn't really work in this context.

But a consultant told us we need to manage our clients and not service them.

Open source Document Management System

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

Two of his portfolio managers had taken on a new client.

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

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?

Oh, God. One of these days I'm gonna just sort through all the Dad stuff.

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

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

Many companies have huge databases of customer information.

If the quality of your product meets with our customer's approval, we will place regular orders.

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

Instead of pricing based on cost,

You cater an event where the cost to you was 200

I have no idea where my husband is.

I'll organize the dinner menu. Three or four times a week, I have guests.

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

Access, manage and share documents

So the impact of all this has been essentially one of growing the market, because it focused on the non customer, and then by reaching the unreached, we're able to significantly grow the market.

Apple is one of the few, truly cares.

They give better service not worse, but better.

Your demands are unreasonable.

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.

Where on the other extreme, the complexity of selling toner over the web. Incredibly simple.

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.

Next, they got out of the building again.

Here's your client list.

Another key component of understanding customers is understanding customer gains, which is a fancy way for saying what are the benefits that customers expect, or desires, so besides the jobs they want to get done what do they want to gain by using your product or service?

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.

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.

Let's go to month two

JU That's a good question, and we ask ourselves that every day.

Many of our clients are AfricanAmerican.

We have recently accepted a client who is VampireAmerican.

A tech company's one of my clients.

Most of my clients are married.

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

It's a big idea.