​​How To Define Your Ideal Customer Profile For Your Startup

When you start a business, you need to decide who your ideal customer is. It’s easy for any company to say that their product can satisfy everyone, but the truth is they’re really selling to a select group of people. In today’s blog, we’ll let you know how to define your ideal customer profile.

What is your ideal customer profile?

Your ideal customer profile (ICP) is the type of person you design your business and products to serve. It’s the person you want to buy your product and ideally, they should be willing to pay a premium price for it because of the value they get from it. If you don’t know who your ICP is, you can’t focus your marketing efforts on them. This will lead to lost potential customers and missed opportunities.

Every business dedicates some of its resources to research on their ICP. This information helps the company build more accurate advertising campaigns, create better websites and design products that best serve their target audience. If you’re just starting out it might be difficult to come up with your ICP right away, but if not, your business will suffer in the long run.

Who are your ideal customers?

You need to know who your ICP is before you start designing and marketing your products. Otherwise, you could design something that only appeals to people outside of your target market. This means lost profits because you’ll be unable to make the most use of all possible customers.  The whole point of an ICP is to create a common vision among the company and its employees. It inspires everyone and focuses their efforts on selling to one specific type of person.

Once you’ve decided who your ideal customer profile is, you can start building your business around it. That means designing products that best serve their needs and knowing how to approach them. It’s a lot easier to sell online, but if you’re offering a physical product, you’ll need to join the correct associations and attend networking events that will put your business in front of them.

On a different note, having an ICP can also help your company develop better products. For example, you might have been designing a new smartphone but didn’t know who to sell it to. Once you’ve decided on your ICP, you can develop a product that satisfies their specific needs and create an effective marketing campaign around it.

How do I find out my ideal customer profile?

Finding out your ideal customer is not as hard as the elements of the profile might suggest. These 10  questions might help:

  • Who is the person we want to buy our product?
  • What do they need and how does our product solve their problem?
  • Why would they choose to buy from us over competitors?  What sets you apart and makes your business/products better than theirs?
  • What does this person like or dislike?
  • What makes your business/products more appealing?
  • How can you get in touch with them? In what ways would this person prefer to be sold to?
  • Who influences their buying decisions and what do they value most when making a purchase?
  • Why does this person have the problem we’re trying to solve in the first place?
  • Why is our business/product the best solution for them and what makes us different from alternatives?

How do you find your ICP?

You need to carefully think through every aspect of your customer profile. There’s no such thing as a “typical” ICP because each person has unique characteristics and features. Your business might be appealing to a very specific demographic, but not general enough for most people.

For example, if you’re developing a new toaster, it might be best to target people who need specific features. Rather than advertise it to the general public, who need certain things but may not want what your business is offering. That’s why you need an ICP so everyone involved in the design and marketing process can work toward the same goal.

Once you have a clear understanding of who your ideal customer profile is, you can start designing the right business around it. It’s not as hard as most people might think and it will save you from countless problems down the road.

If you’re looking for more information on how to build your ICP, get in touch with us today at info@fidelmanco.com and learn more about our Go to Market Strategy services at www.fidelmanco.com.

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​​How To Define Your Ideal Customer Profile For Your Startup

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