Business Model Canvas Customer Relationships

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Presentation transcript:

Business Model Canvas Customer Relationships

Pop Quiz #1: What are the 3 stages of Customer Relationships? Get, Keep, Grow

Pop Quiz #1: What are the 3 stages of Customer Relationships? Get, Keep, Grow

Pop Quiz #2: What are the 4 Steps to Getting Customers?

Pop Quiz #2: What are the 4 Steps to Getting Customers?

Customer Archetypes Drive Get/Keep/Grow What’s their role? How this person is evaluated / promoted / compensated? Who are they? Buyer’s name Position / title / age / sex How do they buy? Discretionary budget (name of budget and amount) What matters to them? What motivates them? Who influences them? What do they read/who do they listen to? Archetype relates back to CS lecture Lab Manager: Brian

Pop Quiz #3: What are the 2 Types of Demand Creation? Get, Keep, Grow

Pop Quiz #3: What are the 2 Types of Demand Creation? Get, Keep, Grow

Customer Relationships Physical Products – Get Customers CAC = Customer Acquisition Cost © 2012 Steve Blank

Sales Complexity and the relationship with Customer Acquisition Cost Freemium No Touch Self-Service Light Touch Inside Sales High Touch Inside Sales Field Sales Field Sales with SE’s Rough Estimates of Cost of Customer Acquisition (CAC) $0- $10 $50 – $200 $1,000 - $2,000 $3,000 - $8,000 $25,000 – $75,000 $75,000 – $200,000 Source: David Skok Matrix Partners

Customer Relationships Physical Products – Keep Customers Attrition/Churn © 2012 Steve Blank

Customer Relationships Physical Products – Get/Keep/Grow LTV = Customer Lifetime Value © 2012 Steve Blank

What Investors Are Looking for? A well balanced business model Monetization (LTV) CAC < LTV Cost to Acquire a Customer (CAC) Source: David Skok Matrix Partners

Monetization (LifeTime Value LTV) Cost to Acquire a Customer (CAC) The Balancing Act Viral effects Inbound Marketing Free or Freemium Open Source Free Trials Touchless conversion Inside Sales Channels Strategic partnerships Monetization (LifeTime Value LTV) Cost to Acquire a Customer (CAC) Scalable Pricing Cross Sell/Upsell Product line expansion Lead Gen for 3rd parties Source: David Skok Matrix Partners

Customer Relationships Web/Mobile Products Get/Keep/Grow The customer relationship is different for Web / Mobile Applications © 2012 Steve Blank

Q&A: Customer Relationships If you get the value prop wrong you will get stuck at interest step.