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89: 3 Steps to Building Your Dream ICP - Practical Prospecting
jed.substack.com
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I like to call this the “hidden objection”. “Most outbound messaging assumes the prospect is incompetent and doesn’t have any solution in place for the problem they solve.” Case in point: every lead gen email that says,“Are you interested in 20+ meetings per month?”.
And keep in mind, when I say “competitor”, I don’t only mean the typical idea of a competitor (i.e. Salesforce vs HubSpot). For example, if you’re selling a CRM, your competitor may be spreadsheets. “In other words, your competitors are not only the competing vendors/service providers in your market, but also the “status quo” processes that your prospects are using.” It’s your job to figure out what the most common competitors are. So you can highlight its gaps, and position your value proposition around how you fill in those gaps.
In other words, your competitors are not only the competing vendors/service providers in your market, but also the “status quo” processes that your prospects are using. “It’s your job to figure out what the most common competitors are. So you can highlight its gaps, and position your value proposition around how you fill in those gaps.” This will drastically increase response rates because your prospects will feel understood.
Once I internalized this, my process changed completely. “I would study our inbound leads and current customers, then look back to see what was happening at that account 1-3 months before they came inbound.” - Were there new hires? - What tech were they using? - What was happening internally?
Again, look at the last 10+ customers you close and document who was involved in the buying process and at what stage. “That last part is important because, oftentimes, certain personas are involved in the buying process but not until the later stages. For that reason, it doesn’t make sense to prospect them - I see a lot of teams doing this and it ends up being a big waste of activity.” Once you’ve determined your Dream ICP persona(s), answer the questions on this spreadsheet:
Now it’s time to determine which personas at these accounts fit your Dream ICP criteria. “Beyond that, we need to truly understand WHY they are the best people to reach out to. By knowing their current processes, challenges, and desires.” Again, look at the last 10+ customers you close and document who was involved in the buying process and at what stage.
Grab the spreadsheet for yourself here(please make a copy). “Remember, this document will evolve as markets change, your product changes, and you get more data. I recommend refreshing it once per month by reviewing every meeting booked, deal won, and inbound lead from the previous month, then using that data to make updates.” I created this short video to add more context to the exercise:
One of the biggest reasons our messaging gets ignored is because our prospects are already getting the job done without us. “I like to call this the “hidden objection”.” Most outbound messaging assumes the prospect is incompetent and doesn’t have any solution in place for the problem they solve.
Once I internalized this, my process changed completely. “I would study our inbound leads and current customers, then look back to see what was happening at that account 1-3 months before they came inbound.” - Were there new hires? - What tech were they using? - What was happening internally?
I would study our inbound leads and current customers, then look back to see what was happening at that account 1-3 months before they came inbound. “- Were there new hires? - What tech were they using? - What was happening internally?” These questions helped me develop, what I like to call, my "Dream ICP".
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