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.

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

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.

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.

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

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

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.

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.

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.

How do you actually make money from your product and service being sold to 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.

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?

Customer. Customer ?

Line segments

Vectors Segments

So, can you look at this customer data set and automatically discover market segments and automatically group your customers into different market segments so that you can automatically and more efficiently sell or market your different market segments together?

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.

Change segments to curves

Change segments to lines

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

Customer!

Customer!

Customer?

Customer,

Customer...

I brought you a customer. Customer?

Customer I'm gonna pay cash. Customer

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 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.

Customer Got some plans for this. Customer

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.

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

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, 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.

Hey... Customer...