Back to Parative

Launch and Learn Episode 6: A Data Driven Approach to ICP

April 6, 2023
April 6, 2023
April 6, 2023

In today's competitive business landscape, companies are constantly seeking ways to optimize their resources and improve efficiency. One area where this is becoming increasingly important is in the identification of Ideal Customer Profiles (ICP) and buyer fit. In our latest episode of Launch and Learn, Mark and Keith discussed how a data-driven approach can help companies better allocate resources and engage with high-potential leads.

Enjoy the recording of the podcast and read on below for more insights on the topic that was discussed!

Parative Revenue Expansion Offer

The Shift from Marketing Personas to Data-Driven ICPs

Traditionally, marketing teams have relied on personas such as "Marketing Mary" or "Enterprise Aaron" to guide their efforts. However, these personas often lack granularity and are not based on hard data. As a result, there is a growing interest in analyzing historical data from closed won and closed lost opportunities to refine ICP models and focus on the outcomes that matter most to a company.

Analyzing Historical Data for Improved ICP Models

To create a more accurate ICP model, companies should consider analyzing data related to product lines, subscription tiers, and even churn. By examining the common characteristics of successful deals, companies can reverse engineer their ICP and better allocate resources to engage with high-potential leads.

Filling Data Gaps with Progressive Profiling and Direct Data Capture

One challenge in building an accurate ICP model is ensuring high-quality data coverage. To improve data quality, companies can utilize progressive profiling and direct data capture from prospects. This involves adding important data fields to sign-up, demo request, or content download forms, ensuring that the data is captured directly from the prospect.

Maximizing Value in a Resource-Constrained Market

In a market where resources are increasingly constrained, companies must find ways to make the most of their sales teams. By leveraging data-driven approaches to identify ICPs and buyer fit, businesses can focus their sales efforts on the conversations most likely to result in successful outcomes. This not only optimizes the use of resources but also enables companies to maximize the value of their sales teams.

In conclusion, the shift from marketing personas to data-driven ICPs is essential for companies looking to thrive in today's competitive market. By analyzing historical data, filling data gaps, and focusing on high-potential leads, businesses can optimize their sales teams and maximize value in a resource-constrained environment.

Stay tuned for the next episode of Launch and Learn and check out all the episodes on our Spotify page.

Get new content delivered straight to your inbox. Subscribe
Mark Lerner

Head of Marketing @ Parative, the Customer Behavior Platform. SaaS enthusiast, B2B Marketing Specialist, Startup Survivalist. Dad x2.

Stay up to date with the
best in customer behavior.