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October 16, 2016
Sales Strategy: 6 Steps to Creating Your Ideal Customer Profile
By:
Sounds so simple, but so many organizations struggle to clearly articulate and document what their Ideal Customer Profile is. Why’s this so important:
Account Segmentation which includes defining the Ideal Customer Profile is the first step to building the foundation for a world class sales organization. It all starts with the Ideal Customer Profile.
Definition: The Ideal Customer Profile (ICP) indicates your sales sweet spot where companies represent the best fit for your product or service. These are the segments of the market that stand to benefit the greatest from adopting your solution. The goal is to target the type of customer where you win the most.
The ICP includes a cross-section of criteria that identifies your ideal target. Firmographic data is the foundation on which the ICP is built. Some of the most commonly used criteria in defining the ICP are:
Other criteria may include company lifecycle (growing, mature, declining), workforce make-up, existing physical/technical infrastructure, or senior leadership changes.
Organizations can utilize their current data to create the ICP.
How do you build an Ideal Customer Profile? Follow these easy steps:
Fill out the worksheet for your organization.
Example:
Profile Element
Industry #1
Industry #2
Industry #3
Industry Vertical
Chemicals
Aerospace
Transportation
Annual Revenue
>$1 Billon Revenue
>$1 Billon Revenue
>$5 Billon Revenue
Total # Employee’s
15,000
9,500
24,000
Sales Footprint
US & Canada
US & APAC
GLOBAL
Buyer Role
CIO
CIO
CIO
This example assumes that industry is the top segmentation driver. Industry is most common, yet analysis of the customer base should look beyond industry for other more telling drivers of need.
Working Copy:
Profile Element
Industry #1
Industry #2
Industry #3
Industry Vertical
Annual Revenue
Total # Employee’s
Sales Footprint
Buyer Role
You’ve now developed the initial framework for your Ideal Customer Profile. You’re not done yet, your ICP needs to be vetted and validated. Once you’ve completed an exhaustive validation, the next step is to align your messaging (Buyer Persona) to your ICP.
A winning sales strategy starts with the Ideal Customer Profile. Don’t build your fiscal 2012 sales strategy shooting at the wrong targets.
Don’t have the Ideal Customer Profile or Buyer Persona’s developed? Contact SBI to help your company develop a winning Sales Strategy starting with the Ideal Customer Profile.
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