4 Key Insights about ICP
Most founders set their ICP incorrectly initially.
All companies use at denmark telegram phone number list least three attributes to describe their ICP.
Outbound sales data is a better indicator than leads from investors or friends.
Four common signs you're approaching ICP: A significant increase in close rates A noticeable increase in enthusiasm A strong desire to take immediate action A "nod" of empathy
Early ICP cases of major B2B companies
The table below summarizes the initial ICPs of over a dozen startups. Notice that most companies use exactly three attributes, and that these attributes are very specific.
Strategies for identifying ICPs
Identifying your ideal customer profile (ICP) is crucial to the success of any B2B company.
Key Strategies
Get extremely specific : Gusto uses six very specific attributes; Gong focuses on three detailed attributes
Focus on your most engaged customers : Canva recognizes the passion of social media managers Sprig captures the interest of companies with large user bases
Identify the roles that are most successful in implementing your product : Stytch succeeds with IC to mid-level engineers; Retool finds that engineering executives are the best fit
Identifying the optimal company size : Vanta believes that companies with 20-60 people are optimal; Linear focuses on startups with 2-5 people
Look for patterns of unique ways of working in companies : Figma is successful in design-focused companies with high internal transparency; Hex is suited to companies with specific data workflows
Key Insights
It is normal for it to take time to identify ICPs. It is important to be patient.
Outbound sales signals are where you should pay the most attention
ICPs evolve, so they need to remain flexible
One strategy is to focus on customers who can make immediate sales.
Signs of approaching ICP
Increased conversion rates
Increased customer enthusiasm
Willingness to take immediate action
A sympathetic "nod"
Steps to Identify ICPs
Choose the 3 most unique and important customer characteristics
Start with something very specific and narrow
Focus on your most engaged customers
Identify the roles that are most successful in implementing the product
Identifying the optimal company size
Look for unique working patterns within your company
Don’t rush pattern matching
Pay the most attention to signals from outbound sales
Be persistent - it may take several months
If that doesn't work, focus on customers you can sell to right away
By leveraging these strategies and insights, you will be able to more effectively identify ICPs and accelerate your business growth.
