Sometimes you just need to get going. Beg for forgiveness and not permission. Done instead of perfect, right? Yes, but there are exceptions. Any sales or marketing professional knows understanding the buyer, your buyer, is one of the most important aspects of sales and marketing. If you don’t understand your buyer, can’t define their key attributes or understand what motivates them…it is risky business to proceed in developing critical content, demand generation programs or anything really. Because after all, who would you be marketing to?
Defining an Ideal Customer Profile (ICP) is accomplished by identifying key attributes of your buyer. To understand your buyer – you need to look at different types of data:
Demographics -This basic information helps identify who the buyer is. Sample types of demographic data include gender or location.
Firmographics – This data helps identify more about the who the buyer is including things like annual revenue, industry vertical, size of company, and job function.
Psychographics – This data helps uncover more about the buyer in terms of why they buy. Psychographic data includes buyer behavior, motives, attitudes and lifestyle. Psychographic data can be found by analyzing existing marketing data- who consistently downloads offers of eBooks vs. white papers or when do they access or consume content.
Using these three types of data helps you better understand your buyer – in terms of who they are and why they behave a certain way (take action). If you can develop your Ideal Customer Profile, you have a chance to build a demand generation program that includes content they will respond to, in a format in which they prefer and you will gain permission to have a conversation with them. Once you gain permission for a conversation – the opportunity for a sale begins, and not before.
It’s risky business to build a demand generation plan that doesn’t speak to the buyer. It’s ultimately a gamble and most likely, a waste of resources. The solution? Focus and build your ICP. Take time, analyze sales and marketing data, ask sales for input on ICPs, ask existing and past customers about themselves, find out why they bought your solution or didn’t (sometimes more important) and gain feedback and use that as insight into your buyer.
Still need help in building your ICP? Check out the Leadspace demo —it’s one of the things we do best.