We've talked about value props, customer segments, channels, customer relationships, revenue streams.

Lifetime value is the customer lifetime value from beginning to end, and just as a note, remember customer acquisition costs acquired over here, needs to be less than customer lifetime value.

Customer lifetime value is exactly what is says.

We've already talked about value propositions, customer segments, distribution channels, customer relationships, and revenue streams.

It will create better, more intuitive customer service.

lifetime value needs to be greater than customer acquisition cost.

So lifetime value needs to be greater than customer acquisition cost.

But what you need to look at is the customer lifetime value.

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

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

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

We've talked about value props, customer segments, channels, customer relationships, revenue streams, partners, resources, and activities, and now we get to cost structure.

It will make longer lasting products. It will create better, more intuitive customer service.

What name do we give the relationship between the value proposition and the customer segment?

What we re really trying to understand first is what value is the customer paying for.

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.

All of this will create jobs, but little extra value.

That's how they create value, is by slamming things together.

And by the way, not only how much does my customer acquisition cost but what's their lifetime value?

I brought you a customer. Customer?

The order is customer discovery, customer validation, customer creation and company building.

Consumer to business (C2B) is a business model in which consumers (individuals) create value and businesses consume that value.

Notice by the way, while they were working on value proposition, they also had some hypothesis about the customer segments.

Customer

Customer!

Customer!

Customer?

Customer,

Customer...

Customer.....

Customer.

Customer centric relationship management (CCRM) CCRM is a style of customer relationship management that focuses on customer preferences instead of customer leverage.

Once you have verified the lamps are working correctly go back to setting 238 and change the value to ten or whatever value the customer would like for this setting

You think, What can I add to the system to create more value?

So as we said, understanding these 3 components of value proposition work together with understanding the 3 components of customer segments.

The customer is happy, because the customer is God.

He says, if you run a restaurant, there is no healthy distinction to be made between the value you create by cooking the food and the value you create by sweeping the floor.

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.

That's what cities do. That's how they create value, is by slamming things together.

He also poetically added, Only God can create something of value out of nothing .

Hey... Customer...

A customer?

Another customer.

Slim customer.

The value proposition says, Hey, it's not about your ideal product, it's about solving a problem or a need for a customer.