No matter which approach you take to developing your Ideal Customer Profile, and identifying the accounts that your brand should be targeting, one of the key elements to honing in on this would be data. Data, data and more data.
But what data should you be looking at in order to give you the valuable insights you need to successfully put an Ideal Customer Profile Together? Well, this is what we’re here for! We’ll give you a quick overview of the different types of data you should be looking at, as well as the reasons why they’re so important. And because not all marketers or sales executives are analysts, we’ll put this in a language that’s friendly to everyone!
As data is more of a science than an art, it’s probably the most accurate and reliable source that you can use in this process, because the last thing you want to do is base your sales and marketing strategies on just a gut feeling.
The four most commonly looked at inputs, apart from your historic account data, are the following: • Firmographics • Technographics • Intent Data • Engagement Data
Firmographics might be a bit of a tough word to pronounce at first, but there’s no reason that this should scare you off at all. Firmographics basically refers to a company’s characteristics which almost anyone can find in Annual Reports, on Social Media Sites such as LinkedIn, or from third-party vendors.
Typical things to identify when taking a look at firmographics are:
The company size
The number of employees in that company
The company’s industry
The company’s growth stage The number of stores, offices and locations of the Company
Their estimated revenue
The people most likely involved in the decision making process
Another toughie to pronounce. But Technographics, put simply, refers to the types of technologies your target accounts are using (which can give you valuable insights that can help you determine if the company you are looking at targeting will be interested in your service or product).
You can use, among others, the following data sources to identify these technologies:
Desk research such as looking at forums, job boards, social media, etc.
Competitive intelligence firms
Web scraping technologies
Not so difficult to pronounce this time, but this is probably one of the most important types of data to look at when drilling down on that list of prospective target accounts. Intent data refers to the companies that your website visitors are working for…this allows you to identify the companies that are interesting in your product and service and who are currently in the consideration phase of their research process.
But having this information on hand, you can easily get your foot in the door as you already know what these companies are looking for…YOU!
Well. not to blow our own horn, but FetchThem is one of the Third Party Services Providers that can help you with this as we use something called Global IP Tracking to extend your sales funnel by delivering you with the details of the decision makers of the companies that the people who have been visiting your website work for. Allowing you to know the exact companies that are considering you, as well as the top dogs that are making those all important purchasing decisions.
Engagement data basically reminds you to look at the companies and accounts that are already in the works. By taking your current customers into account, you will be able to find similarities between them in order for you to easily make a list of the characteristics of companies that you should be targeting in the future.
Another side of engagement data takes a look at the companies that are currently interacting with your brand, but that may not be in your pipeline as yet.
Because why would companies be interacting with you if they aren’t interested in what you have to offer? To this info, your marketing team will easily be able to take a look at the following:
Newsletter and Email Subscriber Data
Website Live Chat Data
Sales Exec Engagements
You see? That wasn’t that scary when you think about it? All the data mumbo jumbo and jargon can be easily translate into something that everybody can understand and make use of. So there’s no longer an excuse for you to dive in and sift through those insights in order to build on your ICP, which will help you know exactly who to target in your sales and marketing efforts in the future!
So go ahead and land those Big Fish…happy swimming!
We specialize in the field of Account Based Remarketing to increase success for our clients in their marketing efforts. We pride ourselves in doing remarketing better by placing brands in front of the final decision makers, not just the person researching the product