How do you know which one to use?

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

Apple is one of the few, truly cares.

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.

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

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

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 will take it to the potential customers.

I have told you how to treat customers.

Well getting customers is just like it sounds.

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

Ned could be any employee in any one of our clients' locations worldwide.

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

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.

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?

And we found after much research that actually not much research, quite simple research that the counterfeit customer was not our customer.

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

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,

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

Is it about time saved? New efficiency created?

He has managed to secure several accounts.

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.

We have recently accepted a client who is VampireAmerican.

I couldn't come up with any ideas.

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.

So I told my assistant,

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

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.

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

And what's worse is, Well, they kind of, sort of like...

The pivot was a term that my best student ever Eric Reese coined when he noticed the arrow between customer validation and customer discovery, and he actually gave it a name, which I think is incredibly accurate.

Because if you think about it, you've been working hard on value prop, and you've been working hard on customer segments and customer acquisition and activation and channel.

And on the next number that's important is that not all 4,025 actually activated and in fact, if we look at this number, our conversion number, only 3.7 converted.

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

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

What product or service are you building?

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

Did he ever mention any particular client being unhappy?

But you know what? I might know something that my competitors don't know.

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.

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

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

You cater an event where the cost to you was 200