The Challenge: Find and Win New Customers
Technology Markets are extremely complex, diverse, and rapidly evolving - straining the bandwidth of sales and marketing
You may be finding customers who are buying but is it scalable?
Sales teams struggle with targeting the right prospects and find it difficult to keep up with use cases, standards, compliance regulations, the features of their own products and those they are competing against.
Similarly, with so many moving parts marketing struggles to understand buyer behaviors, develop relevant and compelling messages and content, to reach the right audience, to generate new business and expand the existing customer base. Creating problems at every stage of the funnel.
The Solution: Identify Your Ideal Customers
Identify Your Ideal Customers Using Segmentation
Resource Optimized Go-To-Market: We identify the best opportunities and methods to penetrate your markets quickly and cost effectively to land new business and expand your existing base.
You don't have unlimited resources, so success requires creativity, customer focus, and discipline. Although your products or service might fit well with companies of all sizes, address a variety of use cases and offer significant technical advantages, it would not be a wise marketing strategy to pursue all of them.
When you don’t focus, and instead, try to be everything to everyone, you end up making a connection with no one. The ideal customer profile is one that is more likely to be successful with your product, you can acquire and support that customer profitably, there is expansion potential, and they’ll be an advocate for you… That is an Ideal Customer.
The “customer” for enterprise technology in today’s market is no longer an individual "decision maker," but rather an organization that faces a variety of challenges both internally and externally which vendors need to take into account when considering their go to market strategy. So, while focusing on individual stakeholders in the buying process is critical, you must first identify the types of organizations to target before you map the buyer's journey, develop buyer personas, programs, and content.
Sales reps spend only 30% of their time prospecting, and only 18% of this time actually interacting with buyers!
- Sirius Decisions
Ideal Customer Analysis
Key Components of Customer Segmentation
Situation Analysis
Collect and analyze relevant facts about current customers and the market (e.g. use cases, trends, economic and technology drivers)Define Grouping Criteria
Establish the most relevant organizational characteristics (e.g. size, vertical, technology needs, regulatory compliance...)Establish Microsegments
Group together customers who have similar needs and will respond to a marketing mix in a predictable manner
Apply Weighting
Establish weighting criteria (e.g. competitive intensity, ability to differentiate, expected growth, cost to reach, alignment with your goals)Find Hot Spots to Prioritize
Identify small number of distinct segments (Hot Spots) where focused Go-to-Market effort will yield disproportionally high resultsDevelop Strategy
Strategic plan for gaining new customers and/or expanding existing customer base. Drives messaging, content, programs, etc...
Keep Sales and Marketing Aligned
B2B marketers who understand their ideal customers are better prepared in all aspects of strategy and campaign development.
Using the segmentation framework clients typically gain additional perspective on the market and a better understanding of adjacent markets, partnering opportunities and alliances.
And Instead of waiting for leads to come to you, your sales and marketing teams will collaborate to turn your target accounts into customers and advocates for your brand.
WE MAP IT ALL OUT FOR YOU
Get a heat map that shows where focused product and go-to-market effort will yield disproportionally high results.
Focusing on Best Fit Customers Has a Multiplier Effect...
Focused Messaging
By knowing the specific problems your customers face and who you're competing against you can personalize your messaging and content for your audience in a way that they'll find valuable.
Targeted Campaigns
Targeted Campaigns
When you know how your customers spend their time online, where they go to get their information will allow you to better target your content and promote it in the places your prospects are most likely to see it.
Consistent Dialog
When both sales and marketing are pursuing the same targets and delivering the same messages, you'll be better able to have a deeper dialog that 's more credible and more personalized.
More Productive Sales
By spending less time on poor prospects and more on better fit segments, your sales team will be able to increase its win rate, cover more ground, and ultimately increase revenues.
Greater Profitability
Selling into the wrong segment can be more expensive and have a longer sales cycle, higher churn rate or lower upsell potential. Avoiding poor prospects will increase margins and develop a more stable customer base.