How to Perfectly Define Your Ideal Customer Profile

An Ideal Customer Profile (ICP), also known as a buyer persona, describes a business's perfect customer.

What is an Ideal Customer Profile (ICP) ?

An Ideal Customer Profile (ICP), also known as a buyer persona, describes a business's perfect customer. Such a customer is a constituent of a company's perfect target market and needs the solution the company in question provides.

An ICP definition does not have to be limited to an individual. It is also applicable to the domain of business-to-business (B2B) marketing. 

A B2B ICP can be defined through a variety of geographic, behavioral, and market-related characteristics, including:

  • Location
  • Revenue
  • Profit margin
  • Size
  • Industry 
  • Mission, vision, values, and philosophy
  • Risk appetite

Why is an ICP Useful?

An ICP allows an organization to ensure its offering addresses prospective buyers' needs and is positioned correctly. 

By clearly defining who the ideal customer should be, an organization can get a better idea of what challenges they face and what their purchasing decision process entails. Equipped with this knowledge, a seller knows where improvements can be made, how strengths can be solidified, and how to tailor the product or service. 

Are sales not where they should be because of a procurement bottleneck from the buyer's side? Do prospective clients end up with our competitors because of an unfavorable price point? Are we missing value adds, or do we need to trim the fat in our offering to narrow in on the buyer's problem?

These questions can be answered from a place of authority and confidence once an ICP is defined. 

How to Create and Define a B2B ICP 

1) Create a list of 10 of your best clients. Keeping the initial group small keeps everything manageable. Now, note the attributes of each client according to the dimensions listed earlier (size, industry, location, revenue, etc.). 

2) Have conversations with these clients. Find out how they became clients and what about your offering drew these clients to your company. Was it a pricing concern, or do you perfectly handle the client's problems? Find out what issues these clients have with relation to your product or service. Who are the decision makers for your clients, and how does their procurement process look?

3) With all of the information you've gathered, start analyzing your data. Can you identify any trends in terms of revenue or industry? Are there similarities between these clients beyond the aforementioned traits, and do you offer a highly-specialized solution that appeals to buyers across the spectrum? Is the appeal of your solution in its ease of acquisition? 

By answering these questions, and more, you can start to flesh out your ideal customer. Group together trends, keep the golden thread, and discard what is inconsistent. 

Organizations should undertake this process regularly to keep up with consumers' changing needs and competitors' shifting approaches. 11

How Do You Know When Your ICP Is Accurate?

As you'll come to see, a well-defined ICP is invaluable. It informs tactical management and creates win after win for your business. Here are some surefire ways to know you have nailed your ideal buyer's profile:

  • Your word-of-mouth leads and sales explode. When your ideal market is segmented correctly, word spreads that you are the right organization for the job.
  • The cost of acquisition (CAC) will lessen. Targeting the right companies reduces wasted marketing spending; hence, more resources are afforded to valuable leads.
  • The deal cycle time for leads is shorter. If your sales team is chasing customers that genuinely benefit from your offering, it will take less convincing for them to sign on.

You Have an ICP, Now What?

With the clarity provided by an ICP, you and your team can quickly identify areas of improvement. Whether you need to expand or narrow your offering, alter your price point, or redirect your marketing efforts, an ICP offers you a roadmap to securing more clients and retaining your current ones. 

If you'd like to reach even more prospective clients and expand your base of ideal buyers, chat with us here at Hypergen. We are B2B growth marketing specialists focusing on using cold email who thrive on scoring you massive leads with your dream buyers. We guarantee consistency, cutting-edge best practices, collaboration, and absolute transparency. Be in touch; we would love to help you reach your goals.

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