To correct an out of phase machine, perform the following steps

The first set of things are paid demand creation activities.

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

In particular, because the idea is that if you analyze the data, that data will tell you something about your customers and then you can better serve your customers and then your profits will go higher.

They strive constantly to improve customer relations.

A red light shows the electricity is out of phase

What are all the pieces? Well let's take a look.

And what do great customers do, great feeling customers?

Show them the grumpy employees.

They give better service not worse, but better.

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.

Now, switch on the Machine's primary Breaker and move to the Control Panel and press POWER ON

What are the costs of jerseys and warehousing and shipping and cleaning,

Much like ranking ranking pain, I want you to think about ranking gains.

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

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?

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.

Those are entrepreneurial traits that you want to be nurturing.

When I got there, we had zero happy customers.

We want to make sure that we actually listen to the people who eventually will buy this product.

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

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

So in month one, you cater an event where the cost to you was 100

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.

One is jobs.

But we don't like nonprofits to use money to incentivize people to produce more in social service.

Let's take a look.

But for you to be a successful company and actually thinking about how much you could spend on them over here, you need to understand can I get them to spend more and more over time and how to keep them

They want to have the discipline and accountability.

In a non perfect world, you might just be a user and I'm going to monetize you by getting pairs to pay for the fact that I have lots of users, but acquisition that is acquire, and activation is a 2 parts strategy.

It is a cost effective approach.

We will take it to the potential customers.

It's 0 otherwise.

If in fact, your conversion rate between acquisition activation could be increased.

Yet, we seem to go from order to order or user to user forgetting about thinking about all the time is how can we extract more dollars or usage or whatever is important to us from our existing customers.

Potential customers have been listed.

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.

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.

And two dollars profit per entrepreneur per day, which is like 700 dollars per year. And of course, it's very beneficial in a lot of ways.

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.