How to Use your Existing Customer Base to Refine your Target Ideal Customer Profile (ICP)

Understanding and defining your Ideal Customer Profile (ICP) is crucial for effective B2B email lead generation campaigns.

Here at Proven Concept, we recently undertook an extensive study to discover our own ICP and refine our targeting strategies.

We aimed to validate our understanding of our target audience and gain clarity on industries, company sizes, founding years, and key job titles that align with our offerings. In this blog post, we’ll share our study’s objectives, insights, and the real-life benefits of refining your ICP for your business.

What is an ICP?

ICP stands for Ideal Customer Profile and defines the most prominent features and characteristics of the people and companies that are expected to become your best customers.

Your ICP goes beyond basic demographics and encompasses factors such as company industry, company size, contact job titles, company’s founding year, and more. It is a detailed description of the type of company and/or person that is most likely to benefit from what you offer. Defining your ICP well allows you to personalise your messaging, target the right audience, and deliver tailored solutions that resonate with their specific needs.

Benefits of Refining your ICP

  • Enhanced Understanding: Refining your ICP provides a deeper understanding of your ideal customers, enabling personalised messaging and tailored solutions that meet their specific needs.
  • Targeted Marketing: Analysing industry data, segmenting by company size, founding year, and key job titles allows you to focus your marketing efforts on the most relevant prospects, improving campaign efficiency and effectiveness.
  • Personalised Solutions: Leveraging insights from your existing customer base helps customise products or services to specific segments within your target audience, increasing customer satisfaction and attracting similar customers.
  • Improved Marketing Outcomes: Tailoring messaging, targeting the right audience, and optimising marketing channels enhance engagement and overall campaign performance. Regularly reviewing and updating your ICP ensures it stays aligned with evolving customer preferences.

Continue reading to find out the main areas we explored in our study to refine and develop our ICP. By delving into these key areas, we gained valuable insights that allowed us to better understand our target audience and optimise our marketing strategies accordingly.

Why Did We Undertake this Study?

Before conducting the study, we believed that our best customers primarily belonged to 21 specific industries, including Human Resources, Management Consulting, Staffing & Recruiting, and more.

However, we wanted to go beyond assumptions and gather concrete data to refine our understanding of our target audience. Our primary objectives were to:

  1. Identify the industries that make up the majority of our customer base
  2. Determine the specific job titles that are most prevalent among our customers
  3. Understand the company size distribution among our customers
  4. Analyse the founding years of our customers to gain insights into their growth stages
ICP Industries

Key Findings & Insights

Industry Distribution

Our study provided valuable insights into the distribution of industries among our customer base. Previously, we believed that our customers were spread across 21 different industries, including Public Relations & Communications, Computer Networking, Logistics & Supply Chain, and more. However, our in-depth analysis revealed a more focused distribution.

The Information Technology & Services industry emerged as the frontrunner, accounting for 19% of our customer base. This finding prompted us to allocate more resources and attention to targeting these companies, maximising our reach and relevance.

Additionally, four industries stood out prominently, representing 55% of our customer base; Marketing & Advertising, Management Consulting, Staffing & Recruiting, and Information Technology & Services. Recognising the significance of these sectors, we are committed to refining our campaigns to attract customers from these industries.

Understanding the specific industries that make up our customer base allows us to fine-tune our marketing strategies. By focusing on sectors where we have proven success, we optimise our messaging, content, and targeting to resonate with potential customers in these industries.

ICP Job Titles

Job Titles

Previously, we considered our top job titles to include; Managing Director, CEO, Owner, but the study discovered that 65% use four job titles, namely CEO, Founder, Managing Director, and Director.

This information has allowed us to personalise our email campaigns, tailoring the messaging and content to appeal to these key decision-makers and influencers. Regularly reviewing and updating your ICP as you gather new insights is crucial to align with the changing needs of your target audience.

ICP Company Size

Company Size

A significant portion of our customer base, accounting for 74%, consists of companies with 2-20 employees. This finding enabled us to create campaigns specifically designed to address the challenges faced by small to medium-sized enterprises (SMEs) and highlight how our services can benefit them.

Incorporating this information into your ICP to develop strategies and solutions tailored to your customer’s requirements. Understanding the characteristics and needs of these sized companies will enable you to align your offerings accordingly.

ICP Founding Years

Founding Years

By analysing the founding years of our customers, we identified distinct periods of growth. Approximately 65% of our customers were founded between 2011 and 2020, indicating that they are established businesses with a solid foundation. This knowledge helps us tailor our messaging to align with the needs and goals of companies in different growth stages.

Armed with the insights from our study, we are fine-tuning our campaigns to align with our refined ICP. We have expanded our focus on Information Technology & Services, Marketing & Advertising, Management Consulting, and Staffing & Recruiting.

Refining your ICP with Proven Concept

Analysing your existing customer data and refining your ICP can be a complex task. However, by working with our team, we can help you refine your ICP effortlessly with our profiling service. This will allow you to extract valuable insights, identify patterns, and optimise your marketing efforts. Get in touch with us today to find out more.

Maximising the Effectiveness of your Marketing Efforts

Now that you have refined your ICP, it’s time to maximise the effectiveness of your marketing efforts. Here are key steps to consider:

  • Tailor Your Messaging – Craft messaging that directly addresses your target audience’s pain points, and challenges. Speak to their unique needs and demonstrate your understanding of their requirements.
  • Target the Right Audience – Focus your marketing efforts on reaching the right audience by utilising industry data to identify the most active channels and platforms.
  • Personalise your Solutions – Deliver personalised solutions by leveraging insights gained from analysing your current customer base. Tailor products or services to specific segments within your target audience.
  • Optimise your Marketing Channels – Review and optimise your marketing channels based on industry data. Experiment with different platforms, and marketing strategies to identify what resonates best with your ideal customers.
  • Measure & Adjust – Measure key metrics such as open rates, deliverability, and conversion rates. Monitoring and optimising your campaign’s performance is an ongoing process and should be performed as frequently as possible.
  • Regularly Review & Update your ICP – Keep your ICP dynamic and reflective of your evolving business and target market. Gather feedback from customers and monitor industry trends to stay ahead of changing needs and preferences.
B2B Email Lead Generation Case Study: US Strategy Consulting Firm

Conclusion

Leveraging your existing customer base is invaluable for refining your ICP and optimising your marketing efforts. Analysing industry data, segmenting by company size, considering founding year, and identifying key job titles contribute to a more precise and effective ICP. By tailoring your campaigns based on a refined ICP, you can enhance marketing outcomes and drive better results.

Feel free to get in touch with us if you have any questions or would like to learn more about how we can assist you to begin refining your ICP.

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