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Once we started noticing this pattern, we discouraged our sales reps from working with Startup Seed and instead referred them to other collaborators who could help them solve their challenges until they reached our target profile. This helped us increase our win rates, average deal size, and customer lifetime value. Here is the data that proves it: In , we sold to Startup Seed We stopped selling to Startup Seed during and over the course of that year, we experienced an % increase in our average deal size The first full year of not selling to Startup Seed , we experienced another percent increase in our average deal size over the previous year In the first few months of alone, our average deal size has been % larger than in By identifying and solving this problem by refining our ideal customer profiles.
We have increased our revenue significantly, and we are not the only company photo retouching to do so. In addition to the obvious revenue benefits, ideal customer profiles also help align marketing and sales teams with the core value proposition and message of your product or service. ICP RevOps - Smartbound When marketers and salespeople know exactly who they are targeting and how to target them, their efforts are much more successful . In fact, studies have shown that aligning sales and marketing teams can increase customer retention rates by % and sales win rates by.
Likewise, your product and service teams can use the ideal customer profile to consider how to build and improve the product or service to better meet those customers' needs over time. When customers provide insight into what works and what doesn't work for them, you can more easily and effectively address those issues in your business. Whether or not you have ideal customer profiles, take the time to dig a little deeper into your company data. You may be surprised by what you find.
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