In order to have a successful ABM strategy, it’s imperative to define your Ideal Customer Profile. A well-rounded ICP will allow you to efficiently narrow down your prospects so you can target leads that make the most sense for your business. Focusing on leads that are the best fit for your product will land you larger deal sizes, speed up your sales cycle, and leave you room for deal expansion.
Why Your ICP Will Set You Apart
A solid ICP allows you to focus your marketing efforts on accounts that have the highest potential to increase revenue and that receive the most benefits from your product. Businesses that feel like your company best fulfills their wants and needs when it comes to their particular business goals, are those that your products are best suited to assist. These are the accounts that are most likely to become consistent customers and that you have the most potential to grow.
How to Build Your ICP
Step 1. Be Realistic About Yourself and Potential Accounts
Understanding your company in its current state is the first step in creating an ICP that will fuel future success for your business. Targeting accounts that best match the profile your company is fitted to serving now, will allow your business to grow to where you want it to be in the future. To define your ideal customer, be honest about how you can meet prospective accounts’ needs after considering your company’s resources, experience level, technology, and size.
Step 2. Evaluate Existing Customers
Once you figure out who your company is best suited to sell to, analyze your existing accounts and see why they have been satisfied with your business. Knowing the buying behavior and unique attributes of these accounts can help you focus your marketing efforts on similar profiles and acquire more happy customers. Looking at data from your sales funnel is a good place to start in defining your ICP and will help you know what firmographic and technographic attributes to look for.
Step 3. Take Advantage of Tech Intelligence
HG Insights offers technographic intelligence to take your ICP to the next level and better evaluate your target accounts. Technographics make a big difference in creating your ICP because once you know what technology products your accounts are using, you can effectively segment your outreach. Understanding which accounts have immediate needs you can help, who have larger budgets for your product, who are most likely to buy, and who may want to make a switch from their current IT provider are the insights you need to define your ICP and make running your ABM campaigns easier. Our unique and comprehensive account data gives insights into:
- IT spend intelligence allows you to see what your accounts are spending on a particular product category so that you can see the size of new opportunities early on and deliver more revenue for your company.
- Technology Installation information lets you see what products your accounts have installed. This enables you to see if they have competitor products installed allowing you to message them with content that addresses their pain points. Alternatively, you can also learn if these accounts have products you enhance, so you can reach out to them with messaging that shows them exactly how you can help.
- Contract data enables you to you prioritize which accounts to reach out to sooner and when to act on opportunities.
Learn more on how you can discover your true ideal customer profile on our ICP Solutions page.