From a platform perspective, how do you identify ICPs? Are you focused on a cluster or individual ICP?

Assuming ICP stands for Ideal Customer Profile, you need to have a clear understanding of the persona you are targeting with your platform. For that persona, you could target different profiles of companies - enterprise, SMB or small shops, depending on your business goals.

Whether I focus on a cluster of ICPs or individual ICPs usually depends on (I) time constraints and (II) 0-1 vs 1-N product motion. Usually, when I pitch a new idea to my executive team, I like to clearly articulate a big picture using data and trends and then deep dive into individual customer anecdotes. In other words, I combine explore and exploit strategies and limit my research with just enough data to kick off the debate. This allows me to quickly iterate on everyone's feedback and make a better decision if the cluster or individual ICP aperture is a better fit in my case.

Identifying Ideal Customer Profiles (ICPs) from a platform perspective involves understanding the unique needs and characteristics of customers who derive the most value from the platform's offerings. When identifying ICPs, platform teams typically focus on defining characteristics that are relevant at both the cluster and individual levels.

Here's how it can be approached:

1. Cluster-Level ICPs:

   • Segmentation Analysis: Conduct segmentation analysis to group customers into distinct clusters based on shared characteristics such as industry, company size, geographic location, usage patterns, or business objectives.

   • Market Research: Gather market research and insights to understand broader trends, pain points, and preferences within each customer segment. Identify segments that align closely with the platform's value proposition and strategic objectives.

   • Persona Development: Develop personas representing typical customers within each cluster. These personas should capture key attributes, challenges, goals, and preferences to provide a deeper understanding of the target audience.

   • Value Proposition Fit: Assess the fit between the platform's value proposition and the needs of each customer segment. Prioritize segments where the platform can deliver unique and compelling value.

2. Individual-Level ICPs:

   • Data Analysis: Utilize data analytics and customer intelligence tools to analyze individual customer behavior, interactions, and usage patterns on the platform. Look for signals of high engagement, satisfaction, and propensity to purchase or advocate.

   • Scoring and Modeling: Develop scoring models or algorithms to predict the likelihood of individual customers being a good fit for the platform based on predefined criteria such as demographic data, firmographics, behavioral indicators, or predictive analytics.

   • Customer Feedback: Solicit feedback from existing customers through surveys, interviews, or NPS (Net Promoter Score) analysis to understand their specific needs, pain points, and satisfaction levels. Use this feedback to refine the criteria for identifying ICPs.

   • Account-Based Marketing (ABM): Implement account-based marketing strategies to tailor marketing and sales efforts to individual target accounts that closely match the ICP criteria. This approach allows for personalized messaging and engagement at the account level.

3. Integration of Cluster and Individual Perspectives:

   • Iterative Approach: Take an iterative approach to refining and validating both cluster-level and individual-level ICPs. Continuously gather feedback, analyze performance metrics, and adjust criteria based on real-world outcomes and insights.

   • Customization and Flexibility: Recognize that ICPs may vary in their relevance and applicability across different stages of the customer lifecycle, market segments, or product offerings. Allow for customization and flexibility in how ICPs are applied and operationalized within the platform strategy.

By integrating both cluster and individual perspectives, platform teams can effectively identify ICPs that align with the platform's value proposition, target market segments, and strategic objectives, ultimately driving more targeted and impactful marketing, sales, and product initiatives.