Identify your best customers

Business benefits

Make your positioning more relevant to your high-value customers and increase conversion rate in this group.

Define the characteristics that make someone your best customer. Depending on your company objectives, this may be one who spends the most, purchases most frequently, purchases most quickly, or has the most to gain or lose.

If you don’t have real data to work with, make assumptions based on intuition.

List the types of actionable data that you’ll include in your persona.

Include these characteristics in your B2C persona:

  • Demographics
  • Interests
  • Pain points and aspirations
  • Current solution

Include these characteristics in your B2B persona:

  • Firmographics
  • Job title or role
  • Pain points and aspirations
  • Current solution

If your brand is new, gut-based assumptions may be all that you have. Fill in the actionable data in your persona based on whom you think your best customer is.

Ask your sales team Who buys from us the most?, Who has the largest average deal size?, Who purchases most frequently?, Who sees our value the most?, and Who has the most to gain from our product?

Build a data-driven Best Customer spreadsheet with columns for Total sales, Number of sales, Average deal size, Average time to close, Win rate, Rank, and Total Rank. Add a new row for each audience segment.

Calculate average deal size, average time to close, and win rate.

Use the appropriate formula to calculate each:

  • Average deal size = Sales / # of Closed Won Opportunities
  • Average time to close = Won Date - Create Date
  • Win rate = Closed Won Opportunities / Closed Opportunities (Won + Lost Opportunities)

Rank each audience segment for average deal size, average time to close won, and win rate.

For example, if you are ranking the average deal size for 10 customers, the one with the highest average deal size would get the best rank of 10 and the lowest deal size would get 1.

Add the three ranks together to determine the total rank for each audience segment.

Determine which customer segment matches your definition of your best customer, based on the total rank, individual rank, and your assumptions and insights.

For example, if two customer segments are tied for total rank, look deeper into the data to see which better fits your definition of the best customer. If your best customer is the one that purchases the quickest, then the average time to close won would matter the most.

Give your best customer persona a name.

For example, if you are a B2B company that found that your banking clients are your best customers, your persona may be called Banking Bill.

Need to rework this to a benefit.

Step can be expanded with some better info from the explanation.

This can be made more readable, using italics instead of speech marks, also needs question marks.

This is a bit messy. Can be shortened if possible?

I think the link can be moved to the step here. It assumes the reader would be using that specific framework and also doesn’t apply to the playbook which should be standalone.

These steps can be merged into one. If you don’t have real data to work with, make assumptions based on intuition should go into the step explanation for step 1.

Formatting: use code format by surrounding text with backticks to make formulas stand out. Try to limit the number of words – for example, total can often be removed. But don’t shorten words unnecessarily – this adds confusion for people who aren’t native English speakers.

Changes made to address all feedback