Two, I've tried it. I've tried at Sciant.

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?

Unexpectedly short lived code, that's pretty bad. Legacy code is actually successful, right?

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

I don't care when you get in in the morning. I don't care when you leave.

The company always strives to satisfy its customers.

Can you expand your product line?

Oh, don't patronize me, James. You know how much money I put into this show that I haven't even found yet?

And unless you're in an existing market and you happen to know which features the customers have told you are more important.

It assumes you will be going through this multiple times.

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

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

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

When you bring in the next new customers, banks now think that's a popular strategy, and this referral program just helps your customers, hopefully, who are satisfied sell more of your product for you.

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

Again, your CAC declines. The idea is what can you do to make this very efficient?

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

She was pleased to be treated as a guest.

It is still, in most places, a gray or black box, and it looks the same.

Instead of pricing based on cost,

Many companies have huge databases of customer information.

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.

You cater an event where the cost to you was 200

I have no idea where my husband is.

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

It's not for you, it's for our customers. They're gonna demand a certain standard.

We got customers, acquired them, and activated them.

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.

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

It's a big idea.

Apple is one of the few, truly cares.

That's your job as the facilitator and coach.

We've got customers.

Who do you do that for?

Defense department's largest contractor.

He's not the client.

I want you to examine it, and make sure it's solid.

Satisfied.

As we said earlier, you know now your customer segment's perception of the value of your value prop.

So one of the interesting equations for every startup is that

That was the customer acquisition cost, CAC, here.

And here is why so imagine if you are losing 5 of your customers a month, well in 3 years you'll only have about 16 of them left, but imagine if you can reduce churn to 1 , so that every month only 1 of these customers left.

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