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.

Now, what's really interesting is in the web mobile funnel the getting customers part of the funnel is actually quite simple, at least on first glance.

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,

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?

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

So one of the interesting equations for every startup is that

That was the customer acquisition cost, CAC, here.

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.

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

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

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.

We will take it to the potential customers.

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

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

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

We have recently accepted a client who is VampireAmerican.

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

I have no idea where my husband is.

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.

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.

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

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 getting customers is just like it sounds.

Hopefully in the last lecture you start thinking about the cost of you channel how many customer activations, how much it will cost to get customers into my physical store or my virtual website.

And when you finally, finally think you do have something that matches customer needs, you get to the next step, which is customer validation.

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.

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.

If you have world's most perfect business model, investors would love to see this number much bigger than this number and so what you want to look for is a well balanced model that takes into account how much you need to acquire customers but how much ultimately you'll extract from them over the lifetime.

Now let's go to month 3.

Apple is one of the few, truly cares.

Get is how you actually acquire customers and get them to purchase your product.

But just understand that in new markets of course you don't get out and ask people what features they need.

But later on they're thinking about what their funnel like in year two or three.

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

You always pull.

lot of fees for doing this, or maybe he just likes giving

Customers can name the market. Customers want or need better performance.

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

Next, they got out of the building again.

look like. What is it that you are doing.

And number 4. Access to customers.

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.

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.

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