Stanford University’s experiment in teaching entrepreneurship, Part V

Continuing with his series on the  Lean LaunchPad class, a program run by Stanford University, Steve Blank writes part five of the post. He has written in the post, “they were testing one of the most confusing sections of a company’s business model – Customer Relationships – the activities used to “Get, Keep and Grow” customers in a physical or virtual (web or mobile) channel. (Internet investor Dave McClure coined the acronym ”AARRR,” to remember the parts of Customer Relationships on the web.)

Many of the students had heard phrases that fall under Customer Relationships before; “customer acquisition, SEO/SEM, public relations, Social Network, Advertising, Loyalty programs, cross-sell and up-sell” etc., but now they were actually trying to implement it. (If their team was a web or mobile app they actually had to buy Google or Facebook ads and create demand.)”

For WITS Zen readers’ convenience, part one is here, two is here ,  three is here, and part four is here.Read the post here