One of the biggest misconceptions in B2B growth is the idea that more attention automatically drives better results. If only you can get more reach, more followers, more impressions and more leads.
But inevitably all that creates is more spinning wheels and more exhaustion.
Most successful B2B organisations don’t actually grow by appealing to everyone. The grow by becoming highly relevant to a very specific group of people.
Many years ago, technologist, futurist and author Kevin Kelly came up with the concept of “1,000 true fans”. The idea was extended and more widely popularised by marketing guru and author Seth Godin.
The idea behind the concept was delightfully simple: you don’t need millions of customers to build a successful business. You just need a relatively small group of people who genuinely value what you do and consistently choose to engage with you.
The theory originally focused on independent creators and artists. The maths suggested that if you have 1,000 people willing to spend just $100 per year on your work, you would be very successful (note these are 1990’s numbers, but you get the point).
The principle applies neatly to B2B.
In reality, most businesses only need a relatively small number of ideal-fit customers to create meaningful growth.
Not the entire market. Just the right part of it. That’s where the power of ICP thinking really comes through.
Everything becomes more effective when you clearly define:
· Who you help
· What problems you solve for them
· What signals indicate fit
· How they buy
If you can communicate what you do and how you help just 1,000 ideal-fit customers, sustainable growth can be achieved as they move through long B2B purchase cycles.
(Remembering of course that the 95-5 rule says only 5% of them, or 50 people, are actively in buying mode at a point in time).
It’s no coincidence that we work with clients to build a database of around 1,000 companies – their prospective ‘true fans’.
It’s understandable why many businesses try to appeal broadly. Nobody wants to feel like they are excluding opportunities. And in some cases, the work isn’t done to define the ICP and build a database around it.
But broad targets and messages often mean generic messaging. And generic messaging rarely drives strong engagement.
The narrower and clearer your focus becomes, the easier it is for the right buyers to recognise themselves and their problems in your messages.
This is where demand generation changes completely. Instead of trying to reach everyone, you:
· Identify your market
· Stay visible to them consistently
· Provide useful (and relevant) ideas and insights
· Observe engagement over time
Eventually something important and powerful happens. The right people start recognising you. Not because of one campaign, but because of repeated exposure and growing familiarity.
You don’t need the market. You need your market. The businesses growing most effectively today are often the clearest about:
· Who they are for
· Who they are not for
· How they stay visible to the right buyers over time
Focus brings an added bonus when it comes to your marketing budget. Your efforts and investments in promoting your business and message are not only more effective, they are also far more efficient because you are spending more time, energy and money on less people, more frequently.
At The Demand Stream, focus is in play from the outset. A defined ICP, consistent visibility and thoughtful nurture. Increasingly, we’re also identifying the hidden signals exhibited by your ideal-fit customers that suggest they are moving from consideration to action.
But that’s a topic for another day.
If you want to find your true fans and build focused momentum, talk to one of our experts today to get started.