Customer Relationships

1. What are the three parts of customer relationships?

2. How do you get, how do you keep, and how do your grow your customers?

   1. Earned vs Paid Demand Creation

3. Physical vs mobile (Get-Keep-Grow)

4. Importance of the Viral Loop

In this module, we will discuss how we get, keep, and grow our customer base. We will address a funnel system that differs between physical customers to web customers and the importance of keeping them in the Viral Loop to retain their future business.

Watch the following videos and answer the questions to prepare for class discussion, online discussion (FB Group), and for your quiz. Each of the videos are between one to three minutes in length. While they may be short, it will take you some time to get through all of the videos and answer the questions.

All titles listed in GOLD represent the videos you will need to watch for the first quarter. It is recommended to watch and answer the questions prior to class to help facilitate instruction and develop a deeper understanding. You may choose to watch all of the videos listed below or the entire library in Udacity. See the course schedule for instruction dates.

Videos to Watch

Lesson 8.1 – Customer Relationships

• What are the three parts of customer relationships?

• What are the major difference between Physical and mobile (Get-Keep-Grow)?

Lesson 8.3 – Customer Archetypes

Questions to ask:

• What’s their role? Are they the user, buyer, or both?

• Who are they?

• How do they buy?

  • What matters?

Lesson 8.4 – Paid Demand Creation

Lesson 8.5 – Earned Demand Creation

• What are unearned demand creation activities?

• What are the four types of earned creation activities?

Lesson 8.6 – Get Keep Grow

Lesson 8.8 – Get Physical

• What are the two different methods used to get customers to our business?

• What are the four areas are we attempting to get customers to do?

Lesson 8.9 – Viral Loop

• • How could we get customers to create a viral loop with customers?

Lesson 8.11 – Keep Physical

• How can we keep customers?

Lesson 8.12 – Grow Physical

• What is unbundling?

• What is upselling?

• What is cross selling?

• What are referrals?

Lesson 8.13 – Get Web

Lesson 8.14 – Web Customer Acquisition Cost

• What does it mean to acquire customers?

• What are some examples of activating a customer?

Lesson 8.16 – Keep Web

• How can we engage customers?

• What is churn?

• Why do we want to keep churn down and focus on ‘keeping customers’ vs ‘acquiring new customers’?

Lesson 8.17 – Grow Web

• What is the Lifetime Value of a customer?

• Why is it important to have the Lifetime Value greater than the Customer Acquisition Cost?

• How do you determine ‘Lifetime’ of a customer?

The Easy Way to Calculate Customer Lifetime Value

• Click on the link above to see ratios you may consider when running a business

• What is the approximate “Lifetime of a customer”?

• Why would we want to conduct ‘Customer Lifetime Value by Segment”?

Lesson 8.18 – JerseySquare Customer Relationships

Lesson 8.20 – JerseySquare Customer Relationships Part II