To identify likely best buyers we first need to analyze existing customers to determine what are the prevailing characteristics that set aside a group.

In order to identify characteristics, it helps to have, refine or develop a customer database. With proper data mining, customers can be binned into recency, frequency and size of sales. Those that buy more frequently and recently and with larger purchases are generally a group of desired buyers.

Once those buyer companies are selected, then the search for common characteristics starts. Almost anything may be important but common traits to dig out include industry, size, location, products, position in their marketplace, key differentiators over their competitors, title or position, annual sales and many other areas. You may choose to merge/overlay outside information to your customers to further illuminate what characteristics define your best buyer group(s).

Once identified, you are ready to target similar prospects as your best buyers with specific messaging using specific communications vehicles and with meaningful offers to increase the number of new customers that will add to your best buyers.