Customer relationships are a crucial component that interacts with other elements of a business model, focusing on how to [[get customers|get]], [[keep customers|keep]], and [[grow customers]]. This involves strategies for attracting customers, activating their engagement, and ensuring they remain loyal to the brand, while also encouraging them to spend more or use the product more frequently. The approach to customer relationships can vary significantly between [[digital channels|virtual channels]] and [[physical channels|physical channels]], often visualized as a double-sided funnel. For web-based examples, the process includes acquiring customers by driving them to the website, activating them to take action, retaining them to prevent attrition, and growing their value. Developing effective customer relationships requires testing and refining strategies beyond initial hypotheses, emphasizing the importance of real-world experimentation and learning. ## Activity - Watch the video [BMC Customer Relationships](https://youtu.be/emEyD7vOSeI) ([[Udacity - How to Build a Startup]], Lesson 3.6) Next: [[What are revenue streams?]] Back to: [[An Introduction to the Business Model Canvas]]