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Finding Your Golden ICP Among Your TAM
Jul 12, 2024
Think of your sales process like searching for hidden treasures. It’s not about grabbing every opportunity; it’s about finding the best ones. In early stage founder-led sales, we call this account scoring—the art of ranking your potential customers from the most valuable to the least valuable based on specific attributes. Let’s dive into how you can master this and find the best opportunities with your Ideal Customer Profile (ICP).
What is Account Scoring?
Account scoring is the process of ordering all potential customers from the most valuable to the least valuable. The “value” of each account depends on how closely that prospect aligns with your ICP. It’s not just a matter of guesswork; it’s a strategic evaluation based on solid criteria.
Understanding Your Market Segments
Your market is divided into three segments:
Total Addressable Market (TAM): The broadest group of potential customers.
High-Level Ideal Customer Profile (ICP): A more targeted subset of your TAM.
Golden ICP: The crème de la crème, your top-tier prospects.
The Personalization Trade-Off
Remember, the higher you go in volume with your outreach, the less personalized your messaging will be. Conversely, the lower the volume, the more personalized and tailored your communications can become. It’s a balancing act, and getting it right can mean the difference between a mediocre campaign and a blockbuster one.
Mapping Your TAM and High-Level ICP
First, you need to map out your TAM. Tools like Apollo or Sales Navigator are your best friends here. These platforms allow you to build a database of every company that could potentially buy from you.
Once you have your TAM, it’s time to zero in on your High-Level ICP. This is where the filtering happens. You’ll narrow down your list based on specific criteria such as:
• Revenue: What’s their financial muscle?
• Technology: What tech stack do they use?
• Employee Count: How large is their team?
• Other Filters: Any other criteria relevant to your business.
Use the same search methodology with the appropriate filters to refine your list and focus on the companies that fit your High-Level ICP.
The Path to Gold: Your Golden ICP
Your Golden ICP is the most valuable subset of your High-Level ICP. These are the prospects that are not just a good fit—they are your perfect fit.
Recap: Key Points to Master Account Scoring
Understand Account Scoring: Rank potential customers from most to least valuable based on how well they match your ICP.
Segment Your Market: Divide your market into TAM, High-Level ICP, and Golden ICP.
Balance Personalization: High volume means less personalization; low volume allows for more tailored messaging.
Map Your TAM: Use tools like Apollo or Sales Navigator to create a comprehensive database of potential customers.
Refine Your ICP: Filter your TAM to identify your High-Level ICP based on revenue, technology, employee count, and more.
Target Your Golden ICP: Focus on the top-tier prospects who are your perfect fit.
Mastering account scoring is your roadmap to finding and securing the best customers for your startup.
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