Ideal Customer Profile (ICP), Does It Really Matter?
It doesn't matter which methodology or program you look at these days. The cornerstone of every Account Based Marketing (ABM) program always starts with the Ideal Customer Profile (ICP). A tremendous amount of time and resources are spent on:
- Analyzing past purchase history
- Customer look-a-likes
- Firmographics: company size, industry, stage in the sale cycle and so on
And ICPs can give you a data-driven perspective of potential buyers. But the fundamental questions still lie unanswered, such as:
- Who does sales call?
- Who is looking for your product or solution categories that you don't know about?
- And if the prospect doesn't fit your ICP, do you not call on them?
However, what's not talked about is what an ICP doesn't capture. In fact, you put yourself at the risk of missing out on opportunities because a true buyer may not fit your ICP. Here's an example: If your ICP focuses on employee size of 5,000-plus, you've just ignored all the customers that have 4,999, 4,998, 4,997 and so on. You get the idea.
This is the foundation of Prophyts Pick, Predict and Deliver (PPD) program.
Pick: You pick the categories for the business or product line you want to drive revenue.
Predict: Our patented algorithm does the heavy lifting of processing 70GB of data a week representing 30B monthly pages by processing "intent" behavior into a predictive buying signal. It addresses the challenges of ICP, taking the surge signal and turning it into an actionable prediction. And then we take it a step further.
Deliver: We take the accounts that are predicting for your category, sometimes referred to as the ICP, and conduct a campaign with a relevant asset. Those engaged leads from the predicted accounts are then delivered to you, for sales to engage.
With Prophyts Pick, Predict and Deliver, you will accelerate your sales cycle by addressing the ICP gap and answering who you should call first.
Posted by Eric Choi on 04/01/2019 at 9:46 AM