Our recent guide to Ideal Customer Profiles (ICPs) outlined exactly why companies need to develop customer personas for their marketing campaigns. In short: an ICP acts as a “true north” for marketers to develop campaigns that resonate with customers expected to get the maximum value from your product (and contribute the most value to your company, too).
As the article outlines, creating a good ICP requires a martech stack built to source, organize, and analyze customer information. But with over 7,000 martech solutions available today, it can be difficult to understand exactly which tools are needed and worth the investment.
Which is why the ReachForce team put together this post covering three essential tools you need in your martech stack to create a quality ICP:
#1. A Trusted Data Management Solution
Experienced marketers recognize that data management is at the foundation of any successful martech stack. Why?
Because data quality has a trickle-down effect on any other marketing technology used by your organization. Operating with bad data leads to inaccurate insights, which in turn impact the decisions your team makes. The importance of an Ideal Customer Profile only exacerbates the problem with bad data — an inaccurate ICP impacts nearly every decision your marketing team makes when designing and executing campaigns. It’s not something most businesses can afford to get wrong.
That’s why it’s important to invest in a tool like ReachForce SmartSuite. Here at ReachForce, our data management solution collects, collates, standardizes, and validates inbound customer information to ensure the insights drawn by other tools in your martech stack are accurate. Most companies don’t realize they’re operating with low-quality data. Which is why we offer a free data assessment:
#2. A Great CRM
Your CRM is the home base for insights about your customers. A well-curated CRM (with good reporting tools) can easily help you identify exactly which customers in your current book of business are finding the most value from your solution and also contributing the most to your company’s success.
The great thing about using a good CRM for these insights is that you can dig deeper than just the dollars and cents of customer spend. It may sound contradictory, but your highest spending customer may not necessarily be the most valuable one for your business. Spend is not the only factor that defines an ICP. CRMs help you evaluate other factors outside spend, such as referrals generated by a client and lifetime customer value.
#3. An Easy-to-Understand Analytics Platform
Of course, a good ICP isn’t just a question of who buys your product. It’s also a question of how. In other words: understanding the appropriate channels for reaching your target audience is also a critical component of a successful ICP. And that’s where a good analytics platform comes into play. Google Analytics is, of course, the chief solution companies use for these insights. But, should you choose to invest in other tools, the most important factor is finding something with an easy-to-understand interface and reporting. Today’s marketers need to double as data analysts, but that doesn’t mean analysis needs to be a chore. The right platform will break down the information you need into simple, actionable insights that don’t require a Ph.D. to comprehend.
ReachForce helps marketers increase revenue contribution by solving some of their toughest data management problems. We understand the challenges of results-driven marketers and provide solutions to make initiatives like marketing automation, personalization, and predictive marketing better. Whether you have an acute pain to solve today or prefer to grow your capabilities over time, ReachForce can unify, clean and enrich prospect and customer lifecycle data in your business, and do it at your own pace.
To learn more about how ReachForce can help you optimize demand generation and your impact on revenue, get a demo today.