Researching Your Ideal Clients
Accelerating Sales to Scale your Business
Finding your ideal client is a task that involves a lot of research. If you don’t know where to start or even how to do it, Paul shares his experience and insights on defining your target audience, some practical tips on how to do the research and a framework and other resources to help you nail your research.
01:10 – Definition of the ideal client.
01:35 – Why I decided to niche down my target audience.
02:40 – Why did I go after tech consultants and cloud (SaaS) partners?
04:10 – Why do I need to do research?
06:00 – How to do research.
07:20 – How to reach out to your ideal client.
09:50 – Three key actions
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This is my ideal client.
My definition of an ideal client is someone you love to work with, can afford your services, and most importantly, you’re confident in getting them a result. And to define my ideal client, I prefer to niche down. I used to have on my LinkedIn profile “I helped service‑based businesses”, but it was too broad, and it was really appealing to nobody because who goes around calling themselves a service-based business? I clarified it by saying I help tech consultants and cloud (SaaS) partners.
Why did I go after tech consultants and cloud (SaaS) partners?
– I worked for The Coca Cola company for 18 years, and they have a similar business model to cloud (SaaS) companies. If you break down all the business functions, it was like most franchise or franchisee relationships. Coca Cola is the longest franchise system I know (150 years), and that is how cloud (SaaS) companies work now.
– I also built, scaled and sold a technology consulting business, which we’re a partner for Copper. That is why I decided to niche down into that target audience naturally. I love getting results for these clients, and I love the industry, which all made sense.
Why to do research
We sold our business over two years ago, and a lot has changed in that time. But, to be honest, I don’t know all the cloud (SaaS) companies and how they run. It’d be limiting if I took my assumptions and said, well, that’s what everyone else is like. Yes, I understand this market, but I don’t understand the nuances. I don’t know, for example, the difference between how a Salesforce partner works versus HubSpot or some other partner that a cloud (SaaS) based company uses this model. So I don’t fully understand the depth of their situation and the language to use in marketing, right? So that’s why I wanted to go and do some research.
How to do research
– Complete your ideal client profile. You can go to Paulhigginsmentorin.com/icp to get my template so you can create a complete ideal client profile.
– Create a target list of people. Draw some names from the closest or best people you have worked with before, people in your network that you can find in your CRM, your LinkedIn connections and some strategic partners. And then they can introduce you to other people.
How to reach out to your ideal client.
I use email templates to reach out to cloud (SaaS) partners, and I talk about two key things here:
- Set up: Let them know the research interviews are confidential and ask them if they feel comfortable to be recorded, just for your purposes only. Also, be really clear on how much time the meeting will take (15 minutes is the time I suggest). Ask them what they’re hoping to get out of this and tell them what you are hoping to get out of this. Finally, talk about the value add. Something that you’re going to give them for giving up their time.
- Questions in the research: ask broad and specific questions. You want to build that relationship, especially if you don’t know them first. Always have open questions and remove those that are redundant or you could find on their website. Finally, make sure the questions link to the strategy you are going to come up with. And since it’s not a sales call, resist to provide solutions.
Three key actions
- Grab the Ideal Client Profile at Paulhigginsmentoring.com/icp
- Grab the research documents at Paulhigginsmentoring.com/research
- Email me your questions at [email protected] so I can help you nail this research.
- Ideal Client Framework
- Book Like a Boss
- Sales Machine
- Accelerate Sales Program
- Take The Accelerate Pulse check!
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