How to identify your ICP

Let your data be your answer

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How to identify your ICP: let your data be your answer

The large majority of people (generally sales & marketing leaders or founders) responsible for creating an ideal client profile consistently make one big mistake 👇

They paint a picture of who they think will like their product/service the most.

Of course, this is a healthy practice to go through but the reality is, we have no idea who our ICP is until we go-to market and get a response. For example, you might say your ICP is a:

  • VP of IT

  • in the Manufacturing industry

  • at a company with more than 5,0000 employees

  • that uses ABC software

  • and is dealing with XYZ problem

While this all sounds specific and focused, what happens when the people buying your product don’t match up with this profile?

I can tell you what happens at most companies; they put on blockers and remain focused on the ICP they developed because they want to believe they know the market.

Reality check: the market knows itself better than anybody.

You (and your leaders) need to be willing to break away from the ICP put in place, which was most likely an arbitrary attribution, and take a look at the data.

When I mean when I say data: inbound leads, MQLs, Demo Requests, content downloads, and most importantly - closed/won deals!

These people/companies are your ICP. Let all of the information flowing into your business define your ICP, don’t try and do it yourself. Assuming you have the necessary tools in place; take a few minutes today and run a report on all Demo Requests, MQLs, and Closed/Won Deals over the last 12 months - then group by industry - then group by revenue - then group by employee size. This will tell you everything you need to know.

Referencing the example above; if you find your ICP is a:

  • a Director of Software Development

  • in the Financial Services industry

  • at companies with 10,000+ employees

You need to do two things; 1) take that to the people you report to - they’ll be impressed and 2) start reaching out to your actual ICP!

That’s all for today. Happy Huntin!