It stands for Ideal Customer Profile (sometimes is also Persona). Both are the same
An ideal customer profile is a hypothetical description of the type of company that would realize the most value from your product or solution. These companies tend to have the quickest, most successful sales cycle, the greatest customer retention rates, and the highest number of evangelists for your brand.
Defining an ICP is an important step in the process of marketing and selling a product or service. By understanding the characteristics of their ideal customers, companies can more effectively target their marketing efforts and tailor their messaging to appeal to those customers. This can help to increase the chances of success in selling to those customers and improve the overall efficiency of the sales process.
ICPs can be created by conducting market research, gathering customer feedback, and analyzing data on past sales and customer demographics. Companies may also use tools such as customer relationship management (CRM) systems to help identify and track potential customers who fit the ICP.
In order to define your ICP you need to know some of the below information:
* Who is
* Where he/she lives
* What he/she reads
* Who is influencing him/her
* Where he/she navigates on
* Which brands he/she follows
* Besides you, what else he/she interested in?
Customer Attrition
Customer attrition, also known as customer churn, refers to the loss of customers over a period of time.
