Admin Feb 9th, 2021
An ideal customer profile also referred to as an ideal buyer profile, describes an ideal customer for what organizations work for. They ideally are the kind of customers you want, and they are the kind of customers that wants to buy from you. One can also define it as a fictitious organization that fits best for the solutions the organizations provide. An ICP helps marketing, sales, and product team to stay focused and work together effectively. There are various techniques for developing your ideal customer profile, but the best one is to look at the best customers you currently have in present and find out what they have in common. Along with the revenue advantages, ideal customer also help you align your sales and marketing teams on the core value proposition and messaging of your services and products.
Some leads may not be a good match, so it is important to identify who can buy from you and who can’t before sharing those to the sales team. This can help in time saving for the sales representative from the ones who will not close a deal with them. It is important to know about who your sales representatives are talking and ensuring that the team is prepared to talk and answer questions for diverse individuals they may confront.
Below are few characteristics to identify the perfect fit:
1. Revenue /Budget/ Company Size – What is the lowest possible cost threshold that a client would have to pay for your services or product?
2. Geography – Do you sell to a specific region?
3. Industry – Are there certain verticals that you operate within?
4. Legality – Are there legal reasons that limit your potential customer base, maybe age, location, or government restrictions?
As your business intensifies, you need to make sure that the deals you are closing are worth the resources you are expending in order to close and retain those deals. This can be done by classifying and offering to your ideal customer profile.
The lines between ideal customer, buyer personas and target markets are sometimes blurred, so understanding the differences is important.
A buyer persona is a comprehensive interpretation of your customers that account for the goals, demographics, motivators, and challenges they are confronting. They support composition and context for any organization. With the help of buyer personas one can curate content and help other teams—such as sales and support—with resource and time allocation.
All too often, marketers think: “A customer is a customer. Any sale is a good sale.”
Buyer personas are those type of people at companies who need to be involved in the purchasing decision. Most importantly, understanding the challenges and pain points of each individual and how your product or service solves for those challenges will make all the difference.
Similarly, a target market is also like an ideal customer profile, but a target market is more generally used in a consumer setting of B2C. Rather than explaining a company, a target market describes a core group of consumers who would gain from the product or service.
Why Are Ideal Customer Profiles So Important?
You may have the capability to sell to a wide range of enterprises, but you need to know where you are winning. If you have marketed to every single company that was interested in your services or products, there are highly chances of experiencing high rates of whipped and unhappy customers — resulting into unhappy employees too.
Whether or not you currently have ideal customer profiles built out, take the time to dig a little deeper into your company data. You might be surprised by what you find.
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