How N. Rich CEO Markus Stahlberg grew N. Rich to $18.5M revenue with a 88 person team in 2024.

my name is Marcus I'm the CEO and co-founder of enrich and uh enriches as Jeff told it's an account based marketing or nowadays we call it account based experience platform it basically means that we help customers of um like several size categories to automate their revenue generation and then also provide kind of become more data driven related to the related to the revenue operation Revenue like processes market sales and marketing and so forth and today that topic is how we used ICP and Indian data to boost SDR productivity by 849 so that's quite uh quite a nice figure and I'm sure everybody would be happy to see that kind of increase and um so in the presentation I'll be sharing several examples it's either from our internal experience or from our customers so we have customers like a bit less than half of our customers are from the US and uh the rest are from Europe and from different categories like from see it says stage all the way to Enterprise so we have a lot of data and insights into like how different companies approach approach ICP how they use internet data and so forth yeah so let's get started so uh there are basically three sections here today so I'll start by talking about High Velocity ICP what it is and uh like how to identify it and so forth then talk a bit about internet data and how it relates to wire churning and then finally giving you a couple of uh concrete case examples or playbooks uh related to uh these two concepts okay so let's start with the high velocity ICP I'll start with a tweet from uh Jason lemkin at saster so I I think Nathan is not here so I can use this one so um what uh what he said there I'll focus on the the below one here so uh just how expensive the incremental customer gets beyond your core highest velocity ICP and this High Velocity ICP is a concept that I'm sure not everybody is familiar with I think everybody knows what ICP is but let me ask like how many of you uh who operate in these kind of positions like have a defined ICP you can press your hands some so that's uh that's good so um the the question there is uh like what is the ICP like how was it defined and let's let's first start by looking at what the high velocity ICP means so here's some uh this is an example uh from uh from client of ours um and a screenshot from our product um so what we do is we basically uh differentiate between the high levels the ICP and non-icp and what the high velocity ICP means is that it's an optimal uh combination of the deal size the win rate and the sales cycle so it's basically the cohort of your opportunities that turn into Revenue fastest that's essentially what it uh what it means and if you look at the non-icp there and the high velocity ICP you can see a big difference and in almost all of those those figures and if you think about normal Revenue teams you wouldn't have an idea like you know you could go randomly uh you know targeting either of these whereas obviously it would make sense more sense to focus on the on the high velocity ICP okay let's go forward not backward so then uh if you look at the what ICP means and what kind of ICP you can actually have in different growth stages this is an important question because it's it's not one size fits all so for the early stage you don't really have that much data available about uh your opportunities you don't have so many uh clients so it's more about trial and error it's more about just like trying to figure out uh get those first 20 30 40 customers and after that once you get to that point then you can start actually using the data to identify like what direction should you be going with your uh with your ICP so using the opportunity data and then you can go to the uh basically like a more account based approach and uh you can start start basically focusing on a specific type type of companies within the uh within the RCP and then once you reach scale or even Enterprise then it becomes a mix of these two so when you launch new products you essentially start from the early stage you start from the spray and pray and start iterating and defining it again and then some of your products might be in this like middle category already but the idea is that the ICP is a constant process so you should never think about it in a way that you know we Define our ICP now and then let it go for a year or two years or whatever so it should be constantly updated this is a very important important thing okay then um so what does the ICP look like um so we get different answers from different customers or normally everybody uh has an ICP that's a that's a typical answer that if you ask do you have an ICP that say yes but then when we ask further like you know what is your ICP like quite commonly we get a different answer from every person or no answer at all people just can't Define it it's just like we have an ICP but you don't know what it is so this is quite common especially in in smaller companies then discard field ICP I think this is the most common one which is uh like that everybody is telling you that the sales have defined it but nobody can really exactly tell you why where did it come from so it's kind of sales knows what they are talking about sales has this day but they have the experience and they have defined it but it's not really defined in a data driven way this is like a quite bad situation to be in because you can't really trust that it's true even though it's could be true but it's you're really taking a chance there so and the third option is then to go with uh with the more data Dynamic and data-driven uh ICP which is based on the based on the opportunity velocity so so then it's uh it's clearly like more uh it will be more more data driven okay then I won't go this true in in detail but uh the idea is that uh with this uh process you can Define your own uh sales velocity ICP so there are basically three stages here so you start by segmenting your current opportunity data based on firm Graphics uh or or like a different uh you know activity data that you have available this depends on your business so you might have specific business related uh metrics or or like then just use General thermographics then you calculate the sales velocity based on that you use the formula that I defined there so it's basically uh win rate multiplied by average steel size divided by the average sales cycle and then identify what is the highest velocity segment out of this and then you will create a Target addressable Market uh using lookalikes so similar accounts with similar profiles and then then you are then you have your Salesforce the ICP and this process should be repeated at least 1 early so that's that's important so it should never never stay static right then uh going to the next section of the of the presentations on this is basically like uh about the intent data like what do you do after you have your ICP defined so uh a very common mistake we see is that ICP is mistaken to be intent data and then on the other hand that intent data is mistake and mistaken to be ICT so it's important that you need both of these so ICP is not going to tell you whether the account is ready to talk to your sales whether they are ready to buy it just tells you that this is an ideal customer after they are ready to buy and then on the other hand intent data in the data tells you that this account is ready to talk to your sales they are ready to engage they are potentially ready to buy but it doesn't tell you is it a good opportunity or not like it could be a really lousy opportunity so you need both of these at the same time in order to optimize your your sales process and marketing process well okay so here uh we go actually in a bit more detail into uh into how you can utilize the internet data so I don't really like this tactical approach uh to intent data which I see often that you just use tools like bombora and then uh lets your sales sales team utilize utilize this in an ideal situation you actually use the internet data to Define what is the current buying sharing stage of the of the customer and here it's been defined or divided into four uh stages five stages so we have code accounts that have no internet at all then in markets it's accounts that are researching this area this category or your competition uh engage means that they are starting to get you know engaged with your content hot means that they are really engaged and now you should start talking to them they are soon going to make their decision and then you have pipeline where you actually have the account in the uh in the uh like uh in the CRM and then on the uh on the on the roast here you have like what kind of content should be used this is just the best practice um so uh like uh how how we see that it's the most most efficient approach so you have top of the funnel middle of the panel and bottom of the funnel content and you might be thinking like why do you have uh in some stages you have several uh different uh like uh type of content that you should be using and the reason to this is that uh there are buying committees involved so you don't just have one person making the decision but you have different people within the organization who are in different stage stages of the buying...