WHY IS IDEAL CUSTOMER PROFILE (ICP) IMPORTANT?

For a business of any size, the marketing strategy is very important; whereas it is hard to accomplish.  As a marketing-person, time is your greatest asset; make sure it is spent wisely to target the leads that are most likely to use your services. In order to do this, you must create an  Ideal Customer Profile (ICP), which would be a description of your clients for the sales of your product.

 

Uses of ICP

  • Spotlights your sales and marketing efforts on the companies that are most likely to buy from you.
  • Avoids spending time on customers who are not a fit with your service, which drains your time and may end up costing your company a loss of growth. 
  • Helps in personalization to improve customer satisfaction, which is an essential key to stay ahead in the market.    
  • Helps to track Companies that are likely to remain loyal to you and would be happy to recommend your products and services to others.
  • Helps to focus on Target Company or contact and bring prospects or opportunities to the company.

 

Most common ICP parameters (Not just restricted to below)

  1.   Industry
  2.   Location
  3.   Company size
  4.   Target Title
  5.   Tech Install
  6.   So many

“An Ideal Customer Profile is defined as a model account or a decision maker who would gain value from your product or service and provide your business with a significant value in return.”

 

 Generally, Business-2-Business involves a high risk of investing in wrong resources and making false judgements. Using the ICP data, this risk is minimized and makes your team understand who should be their ideal target.

 

Utilise insights from open data to create a detailed Ideal Customer Profile

With the help of your best customers list, you will get to know the characteristics  of  your target audience. Such insights will help  improve your marketing to target the clients and hit high rates of success.

Track Buying signals Using Ideal Customer Profile

 When you have a clear idea of the companies you should be targeting, track every buying signals within these accounts based on the insights of the ICP to increase your winning rates in sales and marketing.

Example buying signals:

  1.   Tech Install
  2.   Recent funding
  3.   Their Digital Fingerprint 

Account Based Marketing

Account Based Marketing (ABM) is an important marketing strategy.  ABM signifies resources on the highest value prospective customer to pick the best fit accounts. ABM is a continuous process as it keeps evoking the process of research, creating lists and collecting databases.

An ideal customer Profile is a perfect starting point for an ABM strategy. It helps to identify the quality of your target accounts and ABM tactics help to deliver personalized campaigns based on those particular traits of the account.

 

As with everything really worth considering – Identifying your Ideal Customer Profile takes a lot of your time. There is no common “ICP” definition. This set of defined criteria is constantly changing, as different companies stand to gain value from your product or service at different intervals of time. Revisit this description of your Ideal Customer Profile every 6-12 months to use your time more efficiently in sales.