Have you ever known a person you initially disliked but grew to really appreciate over time?
Billy Staniforth. That’s who it was for me.
He was the one who, from fourth grade through eighth grade, always did everything better than I did. Specifically, he was my [temporary] nemesis at the fourth grade science fair back in 19…well, a while ago.
I had given my science fair project a lot of thought and was sure I’d win first place for my grade. That confidence only lasted up to the point when Billy wheeled in his project into the room that morning.
At that moment, I knew I’d be lucky if they didn’t award him the first, second and third place ribbons. His solar system project was so comprehensive that I didn’t even want to set up my chemical reaction project compared to that.
Seriously, I swear that project contained some items even NASA hadn’t yet acquired. Who was this guy?
Instead of hating him, I soon learned a lot from him about what it takes to do things with excellence. We talked a lot about how he planned and executed his project, thinking deeper about each aspect of the presentation than I would’ve done.
Billy gave me my first taste of understanding the importance of doing things with true excellence, to the best of our abilities.
Sometimes we just need someone else to show us what excellence looks like compared to what we thought was an effort equaling the best of our abilities. What I learned from Billy actually helped me succeed in my career.
Tien Anh Nguyen (@tienanh) is the Director of Market Insights for @OpenViewVenture. He posted an incredibly rich guide earlier this month on the @OpenviewLabs blog. I’d call it a business world version of someone who went all out to create an fully comprehensive resource akin to a first-place-winning science fair presentation.
It’s impressive, and I want to make sure you know about it.
It’s titled: “Finding Your Best Customer: A Guide to Best Current B2B Customer Segmentation.”
You’ll be thankful Nguyen went so deep into this topic once you get into it.
THE BIG IDEA
The big idea of Nguyen’s post is this:
Proper current B2B customer segmentation means no longer needing to take on every customer that is willing to pay for your product or service, which will allow you to instead hone in on a specific subset of customers that present the most profitable opportunities and efficient use of resources.
WHAT I LIKED
What’s not to like? Take a look at the table of contents for this resource:
- What Is Customer Segmentation and Why Is It Important?
- Why Establishing Segmentation Hypotheses and Variables are Important
- Exploring Typical Customer Segmentation Schemes for B2B Software Companies
- The Business Benefits of Current Customer Segmentation
- Creating Change Your Company Can Believe In
- The Best Current Customer Segmentation Process: 5 Steps
> Step 1: Setting Up Your Customer Segmentation Project
> Step 2: Analyzing Customer Data
> Step 3: Data Collection
> Step 4: Analysis and Prioritization
> Step 5: Presenting and Incorporating Feedback
The How, What, When, Where, Why and How of this topic are explained with effectiveness and [relatively speaking] efficiency.
The 5 steps included in this resource are really the bread and butter of the post, but the earlier sections are important for giving you the understanding and the ammo you’ll need to bring about change in your organization.
There’s also a final section that offers some important information, so don’t miss it.
This isn’t a resource you’ll likely read through in one sitting, so bookmark it and go through it with another colleague who also feels strongly about improving this aspect of sales strategy within your company. Bouncing it back and forth between you will help increase your knowledge and understanding of what Nguyen describes in this post.
[Reading Time For Nguyen’s Post: 20:00+]
QUESTION ::: Thinking back about what you’ve tried in the past re: customer segmentation, what are you most interested in with what this resource offers?
Let’s talk about it…