B2B marketing is complex. All your leads are not the same and you can’t use the same methods to approach them all. For example, if a lead is in the awareness stage, you can’t push them directly to the sales team. This is why you need to focus on ICP to boost your efforts and convert more leads.
Table of Contents
- What is ICP in Marketing?
- Boost B2B Sales with ICP in Marketing
- Target Leads That Will Benefit From Your Solution the Most
- Accelerate Lead Conversion
- Get Your Timing Right
- Content Creation
- Steps to Create an Ideal Customer Profile in B2B
- Identify Your Most Valuable Customers
- Analyze This Data
- List Down the Firmographics
- Outline Your USP
- Finalize Your ICP Template and Review It Regularly
- To Conclude
What is ICP in Marketing?
An ICP or Ideal Customer Profile is a description of a hypothetical business that has all the features that make it your ideal customer. In other words, the products and services that you offer are exactly what this business needs.
Many B2B companies confuse the ICP meaning in marketing with a buyer persona. And while they’re based on the same approach, they’re two completely different analytical tools. A buyer persona talks about the key decision-maker in an organization that will buy your product or service. It includes their job titles, industry, pain points, etc.
The ICP marketing definition talks about the company within which your buyer persona works. It outlines the primary features of the company that make it your ideal customer. It also highlights why your product or service is exactly what this company needs.
But how can ICP in marketing operations increase your sales? Let’s find out.
Boost B2B Sales with ICP in Marketing
1. Target Leads That Will Benefit From Your Solution the Most
Going after companies that lack the size, budget, or other features for your solution is a waste of time and resources. Identifying your ideal customer profile will help you effectively target companies that are a good fit for your solution.
Using ICP in your marketing efforts helps you target the right leads and convert them into profitable long-term customers. You can use it as a lead selection criteria to reduce the sales cycle, boost conversion and decrease customer churn.
2. Accelerate Lead Conversion
Creating a detailed ICP highlighting the B2B lead generation process will help you acquire clients quickly. You can also couple your ICP with other tools like historical sales data, predictive learning, sales intelligence software, intelligent marketing, etc. will help you nurture and convert high-quality leads, boosting the closing rate.
3. Get Your Channel and Timing Right
One of the major factors that influence B2B sales is approaching your target audience when they are ready to make a purchase. And creating an ideal customer profile will help you with just that. It allows you to identify the right channels that your target audience frequents the most.
For example, if your potential customers are the most active on LinkedIn, try advertising there. Or if they frequently visit a specific website, try to publish a guest post. By reaching your customers where they are and when they’re ready to move to the next step in the buyer journey, you’ll be more likely to make a sale with minimal effort.
4. Content Creation
Having a well-defined ICP allows you to refine your content strategy. It helps you tailor your content to make it specific to your target audience. For example, you can use goals or challenges that are specific to them to educate them on why they need your solution.
But how does this boost sales? Sharing the right content with the right audience at the right time helps you move them further down the sales funnel. An ICP helps you identify where the leads are in the buyer journey and share valuable and relevant content with them.
Steps to Create an Ideal Customer Profile in B2B
Creating an ICP for your B2B business isn’t complicated but it isn’t easy either. The more accurate your ICP, the higher will be the quality of leads that enter your sales funnel. Follow these steps to define your ideal customer and build a successful ICP-
1. Identify Your Most Valuable Customers
Start by tapping into your existing clientele. What were their pain points and did your solution solve them? This will help you find similarities and act as a great place to start building your ICP.
2. Analyze This Data
After listing down your most valuable customers, understand what makes them stick with you. You can conduct interviews or surveys to get their feedback.
3. List Down the Firmographics
Firmographics help you with market segmentation and allow you to target qualified B2B prospects. You can include variables like industry, location, company size, performance metrics, etc.
4. Outline Your USP
List down what makes your solution unique and why should your customers select your brand over your competitors. Define your strengths and the unique benefits your solution will offer to your prospects.
5. Finalize Your ICP Template and Review It Regularly
Finalize your template but don’t forget to keep revising it regularly based on new customer feedback and market developments.
Every B2B company strives to generate quality pipeline and increase sales. And this is easily attainable with smart marketing strategies. An ICP helps you create an accurate profile of your ideal buyers and target them smartly, pushing them further down the sales funnel.