As a salesperson, time is your greatest asset; make sure you spend your time wisely on the accounts that are most likely to use your services. In order to do this, you must define your Ideal Customer Profile (ICP) to understand the specific types of companies for your sales team to pursue.
Defining your Ideal Customer Profile helps you to:
- Focus your sales and marketing efforts on the companies that are most likely to buy from you now.
- Sell to companies with the highest success potential of using your product or service. A customer that isn’t a good fit for your service drains time from your Customer Success team and may end up costing your company more than can be gained from the partnership.
- Create smart short-lists of companies to focus on, track buying signals within these accounts, and act fast when a window of opportunity presents itself to you as a salesperson.
An Ideal Customer Profile is a model account whose characteristics indicate that they would gain significant value from your product or service and in turn, provide significant value to your company as well.
Basing your Customer Profile off of a gut feeling leaves a lot of room for error in judgement. Using insights from open data in understanding who your Ideal Customer Profile is will minimize the risk of missing many of the less obvious indicators of accounts that you and your team should ideally target.
Utilize insights from open data to create a detailed ICP
Take a look at a sample list of your best customers and evaluate similarities to more efficiently prospect new accounts. As you notice trends in company characteristics that tend to lead to higher hit rates, your sales team will be more effective in winning and driving business.
Create a target group in Vainu with the customers with which you’ve had the most success, and analyze their commonalities thoroughly. Look for both similarities in static data-points as well as for more subtle features, such as tenderness in a company’s tech stack, savviness in social media, and changes in headcount over time.
With Vainu analyzer, you can quickly see an overview of similarities between all companies in your target group.
Track buying signals from your ICPs
You have a lot to gain by reaching out to potential customers immediately when a new need occurs in the organization, if not before this need has even materialized.
As soon as you have a clear idea of the companies you should be targeting, track every important buying signal within these accounts, using these insights to increase the success rate of your efforts in sales and marketing.
Sorry, there’s no such thing as a “universal” Ideal Customer Profile
As with everything really worth having – finding your Ideal Customer Profile takes work. There is no universal “ICP” definition, not for any company. This set of defined criteria is constantly evolving, as different companies stand to gain value from your product or service at different intervals of time. Reevaluate this description of your Ideal Customer Profile every 6-9 months to use your time more efficiently in sales.