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How to Start a Business

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Developing Your Customer Relationships

1:53 with Pasan Premaratne

Marketing activities focus on different stages in a customer lifecycle. In this video, we're going to break down our marketing activities and focus on ones that help our early stage business.

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    [SOUND]. 0:00
    Building our initial product or service, as hard as it seems, is the easy part. 0:05
    Getting customers can be far more difficult in most cases. 0:09
    When exploring our business model, 0:13
    one of the sections of our canvas that we explored was customer relationships. 0:15
    Now we defined out customer relationship activities, 0:20
    as any interactions we have with our customers. 0:23
    And we broke down these interactions in to activities that bring in new customers, 0:26
    keep them happy, and 0:31
    finally activities that allow us to maximize our relationship with them. 0:32
    We can break this down in to a more specific process using a funnel. 0:37
    The customer relationship process for 0:41
    a new business can be broken down into three distinct stages. 0:43
    Get customers, keep customers, and grow customers. 0:47
    In this stage of our business, our goal is to get as many customers as we can, so 0:51
    we're going to be focusing on the get customers section of the funnel. 0:56
    Our strategy, as shown on the funnel, is acquisition and activation. 1:00
    What do each of these mean? 1:04
    Customer acquisition focuses on getting as many customers to our website or 1:07
    landing page, so that they become aware of our product or service. 1:11
    Since the number of people who end up on our site and don't buy the service would 1:16
    be very high, we need to bring in a crazy amount of people to our site so 1:20
    that our conversion numbers are solid. 1:24
    In customer activation, 1:27
    we implement strategies that encourages the user to get plugged in with us. 1:28
    This can be through downloading some information, signing up for 1:33
    our free trial, and a bunch of other activities. 1:36
    The goal here is to capture our customer information so 1:39
    that we can contact them later to engage with them. 1:42
    There are different things we can do in the acquisition and 1:45
    activation stages to get our customers into the fun. 1:48
    So let's get started. 1:51

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