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

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

And in customer segments, the goal is to understand in detail the customer archetype or persona.

So in understanding our customer segments, it was really helpful to pictures up and as we build an archetype of who our three potential customer segments are.

What pains and gains are you creating for what customer segments?

Now, the last piece in understanding customer segments is understanding their pains.

And then, finally, they now kind of verified Yep, these look like our customer segments here are our customer relationships.

And this is a key idea, value proposition and customer segments are the first two things you tend to work on with the business model canvas.

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

They thought that their customer segments was going to be professional sports game attendees.

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

So understanding multi sided markets are just understanding which customer segments in a 2 sided market use and which other customer segment placed.

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

I could actually price on specific customer segments or on features I know they need.

So let's follow our Jersey Square team and see what they did with customer segments.

The other thing that we're interested in doing if you remember in customer segments is understanding a day in the life of a customer.

How do you actually make money from your product and service being sold to customer segments?

There are some other things to consider in customer segments besides jobs to be done and pain and gain, and that is who's the customer?

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.

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

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

Let me give you an example of a couple of startups who actually went and tried to define our customer segments.

And so you could see multiple customer segments, multiple value props, multiple revenue streams this is a somewhat complex multi sided market.

Here's what the pain and the gain is we're actually doing for these hypothetical customer segments that I've written down on my canvas.

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.

So remember, if you've been getting out of the building, you actually found the early passionate customer segments or people inside those segments that will buy your product even unfinished or unbuilt or buggy as it is.

So number one, as you can now see that there are not only two customer segments, but there are two value propositions, that is, there is a value proposition that matches each one of the segments and there's a revenue stream that matches each one of the segments.

There is a type of startup in what we call a new market, and we'll be describing new markets in the Customer Segments lecture.

So again you could start either with customer segments or you could start with a product and value prop itself, it really doesn t matter.

It's great to strategize and think about who customer segments are and value proposition and channel, but remember all you're doing is writing down hypotheses.

And what they found out was what they originally thought was a single customer segment actually turned out to be there were two separate segments.

We've already talked about value propositions and we've talked about customer segments in the last two lectures, but today we're going to talk about channels.

And the key thing that you want to worry about is churn or sometimes called customer attrition.

Now we're making a lot more sense, and now, if you look at the customer segments oh, now they're actually getting down to very specific groups.

The establishment of an effective customer due diligence programme by financial institutions is key in combating terrorist financing.

I brought you a customer. Customer?

Segments

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

We actually shoot segments like T.V. show segments.

Inside them, we've broken the lectures up an actual we've broken the lectures up into variety of segments which have themselves titles which indicate key themes of those segments often four or five.

Customer

Customer!

Customer!

Customer?

Customer,