Best Advice for defining ICP ?
Jonathan magat
8 replies
Hello everyone,
We're currently at a pivotal point in our company's journey. Our growth has primarily been driven by SEO and SEA, which have been effective in targeting search intent. However, this approach has had significant implications for our closing rates, marketing costs, and overall roadmap.
And it is not helping us targeting specific customer segments
I believe it's time for us to shift our focus towards profitable customer profiles (time to define ICP ?) and the most effective acquisition channels for them. To make this transition successfully, I've been investing a substantial amount of time analyzing our customer database, looking at factors such as MRR, closing duration, lifetime cycle, industry, and more.
My challenge now is turning this data analysis into actionable insights that our sales team can leverage effectively. Does anyone have any tips or strategies to share that can help bridge this gap and enable us to optimize our customer targeting and acquisition efforts?
Replies
Lina Albin@lina_azar
Since you already have a customer base, you should identify who are your best users and how you can segment them. From there, getting to ICP will be easier
Hope this helps!
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Thanks @lina_azar, that's what I've started to do, but I'm struggling to summarize the information for my sales team...
@johnmgt I know I like to go about it from different product use. For example, select the three most used features & determine the profile of users using it.
You can also go further by differentiating the different use cases on a same feature
Overall, this work takes a long time. But if done well, it will help all three: product, sales, and marketing teams. Good luck!
At Cards we work on defining "strategic business vertical" to clearly identify KPIs using datas. So that we're able to segment leads for better personalization with BOFU, MOFU & TOFU contents.
It's hard and could take weeks... But this allow us to continuously test and adjust our strategy.
For our startup it's a cross-departmental collaboration: marketing, tech and sales teams work together to optimize customer targeting and acquisition.
I always think of this process like navigating a ship : if I know precisely where I want to go (ICP), and have a detailed map (segmentation and personalization) and a well-trained crew (sales team), my team and I will be much more efficient in reaching my destination (optimal customer acquisition).
From the SEA campaigns, are you able to extract "lookalike" data from the platforms? They can be a very good way to start.
Also, one way can be to staff a salesperson with the right incentive (size of the deal, time to close, ...) would likely very fast converge towards the profitable deals...