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BRANDING

ICP Matrix by Firmographics and Psychographics

Your Product Isn’t for Everyone—Define Exactly Who It’s For

You can’t build a great brand without knowing exactly who you’re building for.
A strong ICP matrix uses both firmographic and psychographic data to profile your best-fit customers—across both B2B and B2C use cases. This allows you to personalize messaging, prioritize segments, and allocate resources with laser focus.

Why it's Important
  • Aligns product, marketing, and sales around a clear customer definition

  • Prevents wasted spend on the wrong audience

  • Supports product-market fit by matching need with solution

  • Informs tone, messaging, and value propositions

  • Enables scalable growth by focusing on repeatable wins

How to Implement
  • Review existing customer data—Look for patterns among your happiest users or most profitable customers.

  • Choose your segmentation types:
    For B2B: Firmographics like industry, company size, geography, tech stack, revenue.
    For B2C: Demographics like age, lifestyle, income, education.

  • Add psychographics—these include personality traits, goals, values, pain points, buying motivations, and behaviors.

  • Interview and survey real users to validate these characteristics and surface nuance.

  • Score potential customers against key attributes (e.g., "High Fit," "Medium Fit," "Low Fit").

  • Build a matrix or persona grid that clearly defines your best-fit profiles (Notion, Miro, Airtable, or Figma work well here).

  • Share across teams—make it actionable by tying each ICP to marketing channels, sales tactics, and product use cases.

  • Revisit quarterly or at major growth inflection points to refine based on actual behavior and new data.

How You Know You Got It Right
  • Teams use it to evaluate leads, prioritize features, or design campaigns

  • Marketing CTR and conversion rates improve when targeting ICPs

  • Your sales cycle shortens when engaging ICP-aligned prospects

  • You’re not spending time chasing the wrong customers

  • Product feedback from ICP users consistently maps to your roadmap

  • Team members can describe your ICP without referencing a doc

  • Your messaging resonates deeply with ICP segments—and feels irrelevant to everyone else (that’s good)

Real-World Examples

Cards - Airbnb.jpg

Segment (acquired by Twilio)

Narrowed their early ICP to high-growth SaaS companies with active data engineering teams.

Cards - Airbnb.jpg

Calm

Identified psychographic traits like high-stress, sleep-deprived professionals and focused B2C campaigns accordingly.

Cards - Airbnb.jpg

Brex

Focused on startups backed by top-tier VCs, using firmographic triggers like recent fundraising and headcount growth to target early adopters.

Make It Better
  • Include actual quotes from interviews to humanize each profile

  • Tie each ICP to a specific value prop and messaging angle

  • Use color-coded tags or scoring models for clarity

  • Align ICP with customer success metrics like LTV or NPS

  • Treat ICPs as living artifacts—refine as new data comes in

Don't Make These Mistakes
  • Creating too many ICPs—focus on 1–3 to start

  • Confusing “anyone who could use it” with “best-fit customers”

  • Using assumptions without validating with real customer data

  • Ignoring psychographics in favor of just demographics or firmographics

  • Failing to align sales and product teams with the final ICP

Fractional Executives

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