1
00:00:00,390 --> 00:00:03,490
Once we have our channels established, we
need to start thinking about

2
00:00:03,490 --> 00:00:07,590
the different ways in which we're going to
be communicating with our customers.

3
00:00:07,590 --> 00:00:10,480
By communication, I don't just mean the
phone calls and

4
00:00:10,480 --> 00:00:14,410
emails, but all kinds of communication
with a customer.

5
00:00:14,410 --> 00:00:17,930
If a person is interacting with our
company or our product or

6
00:00:17,930 --> 00:00:21,990
service, whether it's for the very first
time or whether they've been a user for

7
00:00:21,990 --> 00:00:25,700
a while, we are establishing a
relationship with them.

8
00:00:25,700 --> 00:00:28,360
In this section, we talk about the various
kinds of

9
00:00:28,360 --> 00:00:31,940
customer relationships that our business
model will have to account for.

10
00:00:33,330 --> 00:00:38,310
Customer relationship, in the scope of our
business model, defines any interactions

11
00:00:38,310 --> 00:00:42,410
with our customers and the strategies that
we have built around these interactions.

12
00:00:43,430 --> 00:00:47,380
In any business, there are three main
groupings of customer relationships.

13
00:00:48,690 --> 00:00:52,612
First, we build relationships when we
[SOUND] acquire new customers.

14
00:00:52,612 --> 00:00:57,100
The strategies that we build around these
activities are called acquisition and

15
00:00:57,100 --> 00:00:59,480
activation strategies.

16
00:00:59,480 --> 00:01:01,092
Once we acquire this customer,

17
00:01:01,092 --> 00:01:04,566
we work through a different set of
relationships to keep them happy.

18
00:01:04,566 --> 00:01:08,479
[SOUND] We call these actions retention
activities.

19
00:01:08,479 --> 00:01:11,672
Finally, we can maximize [SOUND] the
relationship with our

20
00:01:11,672 --> 00:01:14,744
existing customers through up-selling
activities.

21
00:01:14,744 --> 00:01:17,759
These activities should be carefully
considered and

22
00:01:17,759 --> 00:01:23,100
only offered to customers who have the
need for additional products or services.

23
00:01:23,100 --> 00:01:27,790
The ideas we develop in this stage will
help us fine-tune our marketing, sales,

24
00:01:27,790 --> 00:01:29,720
and retention strategies.

25
00:01:29,720 --> 00:01:31,840
Depending on your value proposition,

26
00:01:31,840 --> 00:01:35,170
you can have different types of customer
relationships.

27
00:01:35,170 --> 00:01:37,240
Up first, you have personal assistance.

28
00:01:37,240 --> 00:01:41,440
This is where customers get he;p directly
from a customer representative during

29
00:01:41,440 --> 00:01:44,362
the sales process or at any time after.

30
00:01:44,362 --> 00:01:48,310
Self-service, where the company doesn't
maintain direct relationships with

31
00:01:48,310 --> 00:01:53,450
customers, instead offering all the
resources they need to help themselves.

32
00:01:53,450 --> 00:01:58,300
Automated services, where customers are
helped via automated processes.

33
00:01:58,300 --> 00:02:01,880
This might sound confusing, but think of
Netflix or Amazon.

34
00:02:01,880 --> 00:02:06,080
They offer movie or book recommendations
based on your personal preferences and

35
00:02:06,080 --> 00:02:07,520
past history.

36
00:02:07,520 --> 00:02:11,100
This type of relationship simulates
personal assistance to keep us happy.

37
00:02:12,150 --> 00:02:13,880
You also have communities.

38
00:02:13,880 --> 00:02:18,350
Companies can offer online communities as
a way to interact with their users and

39
00:02:18,350 --> 00:02:20,360
let users help one another.

40
00:02:20,360 --> 00:02:23,970
This is really useful because it allows
for quick problem solving and

41
00:02:23,970 --> 00:02:27,405
better interaction and thereby higher
engagement from users.

42
00:02:27,405 --> 00:02:29,590
Co-creation.

43
00:02:29,590 --> 00:02:33,740
A newer form of customer relationship is
where the company allows users to

44
00:02:33,740 --> 00:02:38,380
interact with the product or a service in
such a way that it betters the product

45
00:02:38,380 --> 00:02:41,700
while offering value to other customers
and increasing retention.

46
00:02:42,840 --> 00:02:46,700
By allowing users to review books, Amazon
increases the value of

47
00:02:46,700 --> 00:02:51,200
its online stores and offers better
choices for customers.

48
00:02:51,200 --> 00:02:56,020
Similarly, by allowing user to create and
upload videos, Vimeo or

49
00:02:56,020 --> 00:03:00,730
YouTube greatly increases its content
library and keeps users more entertained.

50
00:03:01,940 --> 00:03:06,520
Since our service is a productivity tool,
the best type of customer relationship we

51
00:03:06,520 --> 00:03:10,600
can offer is self-service, and that should
solve most needs.

52
00:03:10,600 --> 00:03:14,120
We could do this by having a really good
user guide on the site,

53
00:03:14,120 --> 00:03:17,950
along with frequently asked questions and
a contact forum.

54
00:03:17,950 --> 00:03:22,570
This type of relationship mostly applies
to our retention activities, however.

55
00:03:22,570 --> 00:03:23,540
What about acquisition?

56
00:03:24,690 --> 00:03:28,580
Acquisition strategies can be simply
thought of as marketing strategies.

57
00:03:28,580 --> 00:03:31,410
These strategies are heavily dependent
upon first,

58
00:03:31,410 --> 00:03:36,040
the customer segments, and secondly, the
channels through which we reach them.

59
00:03:36,040 --> 00:03:40,910
Acquisition activities are closely linked
with the awareness stage of a channel.

60
00:03:40,910 --> 00:03:44,000
Now, we defined our customer segment as a
niche market and

61
00:03:44,000 --> 00:03:46,270
that we're using an owned channel.

62
00:03:46,270 --> 00:03:49,790
This means that we'll be marketing
ourselves using one message that

63
00:03:49,790 --> 00:03:54,270
applies specifically to our segments and
the difficulties they face.

64
00:03:54,270 --> 00:03:57,910
Let's look at some of the acquisition
strategies we could start out with.

65
00:03:57,910 --> 00:04:00,990
There's the old, traditional outbound
marketing.

66
00:04:00,990 --> 00:04:04,740
This includes activities where you reach
out to people via email blast to

67
00:04:04,740 --> 00:04:09,410
purchase lists, cold calling, traditional
advertising, and so on.

68
00:04:09,410 --> 00:04:13,700
These strategies seem to be getting less
and less effective, with people coming up

69
00:04:13,700 --> 00:04:18,600
with different ways to block out emails,
calls, and filter out ads.

70
00:04:18,600 --> 00:04:22,120
Instead, we're going to focus on inbound
marketing strategies and

71
00:04:22,120 --> 00:04:24,840
set ourselves up as thought leaders.

72
00:04:24,840 --> 00:04:26,650
When people find my website,

73
00:04:26,650 --> 00:04:31,140
I want to be seen as a thought leader who
contributes to the industry that I'm in.

74
00:04:31,140 --> 00:04:35,890
This will make it easier for my customers
to trust my brand and use my services.

75
00:04:37,030 --> 00:04:41,525
My main acquisition activities will be
content [SOUND] marketing, that is,

76
00:04:41,525 --> 00:04:46,599
blogging regularly with great productivity
tips and ways to enhance your workflow.

77
00:04:46,599 --> 00:04:50,796
[SOUND] Email marketing, building an email
newsletter and providing readers with

78
00:04:50,796 --> 00:04:55,195
actionable advice, [SOUND] social media
marketing and search engine optimization.

79
00:04:55,195 --> 00:04:56,460
Now, don't worry.

80
00:04:56,460 --> 00:04:59,130
We'll go in depth on a lot of these
activities later on in

81
00:04:59,130 --> 00:05:00,960
this series as we talk about marketing.

82
00:05:02,470 --> 00:05:05,960
Customer relationships are an important
part of your business model, so

83
00:05:05,960 --> 00:05:10,290
pay attention to all the areas where you
interact with your customers.

84
00:05:10,290 --> 00:05:13,190
Now that we're done brainstorming, let's
throw this up on

85
00:05:13,190 --> 00:05:17,220
our post-it notes to keep track of our
ever-evolving business model.

86
00:05:17,220 --> 00:05:18,890
Before we move on, let's recap.

87
00:05:20,630 --> 00:05:23,677
Customer [SOUND] relationships cover any
communication we

88
00:05:23,677 --> 00:05:26,667
have with our customers throughout our
business model.

89
00:05:26,667 --> 00:05:30,462
These [SOUND] relationships can be broken
down into three main groupings.

90
00:05:30,462 --> 00:05:33,582
[SOUND] Acquisition, [SOUND] retention,
[SOUND] and up selling.

91
00:05:33,582 --> 00:05:36,170
Awesome, let's move on to the next
section.