They attract customers by offering high quality goods.

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.

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

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.

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

You always pull.

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

And, more importantly, they're well dressed.

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.

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.

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.

And they love to tell you, Oh, it's about 10 percent, proudly.

I want to build my corporate site to attract 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.

But they're asking us a first time, a new customer.

Well getting customers is just like it sounds.

They love to tell you, It's about 10 percent, proudly.

And they say that the new customer gets a one time discount of 3.

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.

Because you'll ask So, I explained it to you like this. How could I have said it better?

Picking up a package, delivering it to our client.

I realized that recurring revenue from one client is amazing.

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?

I'll attract those guys.

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.

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 let's go to month 3.

Male and female and they kind of were closer to 18 30 and they were casual fans.

Apple is one of the few, truly cares.