The Ideal Customer Profile, or ICP for short – we all know about it. But do you really? Like, really really? Because knowing the definition is one thing, but understanding what criteria actually make up a good-fit account? That’s a whole different ball game.
Let’s break it down.
The basics: What is an ICP?
Think of your ICP as your North Star. It’s the profile of your dream customer, the type that not only needs your product but is also ready to pay, stays loyal, and even sings your praises from the rooftops. Without a dialed-in ICP, you’re basically playing darts blindfolded, hoping to hit something, anything.
Criteria #1: Company size and revenue
First up, size matters. And no, I’m not just talking about how big the company is (though that’s part of it). I’m talking about the sweet spot where a company’s size aligns with your offering. Are you selling enterprise-level software? Then mom-and-pop shops probably aren’t your jam. Look at the number of employees, annual revenue, and growth potential. A good-fit account isn’t just about what they look like now, but where they’re headed.
Criteria #2: Industry and vertical
Next on the list: industry fit. Your product isn’t a one-size-fits-all kind of deal, so you’ve got to narrow it down. Is your solution tailored for FinTech companies, or do you crush it in the healthcare space? Focus on the verticals where you can really move the needle. This isn’t about casting a wide net—it’s about spear-fishing for the exact industry that’s gonna get the most out of what you offer.
Here’s where Market Map can help - Market Map uses AI to identify groups of similar accounts in your CRM and scores them based on how much they look like your existing customers. It’s a different way of thinking about prospect prioritization based on scores generated from your ideal customer or other reference accounts.
Criteria #3: Technology compatibility
Let’s dive into the tech side of things for a moment. It’s crucial to understand the tools, softwares and systems your target accounts are already using. If your product works seamlessly with Salesforce, then accounts using Salesforce should be high on your list. But if they’re stuck with some outdated CRM from the early 2000s, it might not be worth the effort. A good-fit account should have a tech stack that aligns with your solution or be willing to upgrade to meet your level.
Criteria #4: Pain points and challenges
Here’s the thing—people buy solutions to problems, not just products. So, what pain points does your product solve? Identify the common challenges your best customers face and look for accounts that have those same issues. Whether it’s streamlining operations, boosting revenue, or making their life easier in some other way, a good-fit account should have a burning need for what you bring to the table.
Criteria #5: Buying behavior
Last but definitely not least, pay attention to buying behavior. Some companies are serial deal-makers—they know what they want, they’ve got the budget, and they’re ready to move. Others? They’ll drag their feet for months, going back and forth in endless rounds of “maybe next quarter.” A good-fit account is one that not only needs your product but also has a history of quick, decisive purchases.
Wrapping it up
At the end of the day, defining your ICP isn’t just about finding any account that might need your product. It’s about surfacing the right accounts—the ones that are a perfect fit, where you can deliver real value and build lasting relationships. When you focus on these criteria, you’re not just closing deals—you’re closing the right deals.
So go forth and start filtering those leads like a boss. Your pipeline—and your commission checks—will thank you.
