As marketers, a key goal is to connect, engage, and inspire action. By viewing companies as entities with their own personas and journeys, we can unearth authentic stories and emotions that resonate more deeply with our audiences that are employed for those entities –and who are ultimately making the buying decisions.
On August 11, 2011, during his campaigning at the Iowa State Fair ahead of the Republican primary Mitt Romney uttered a phrase that was considered a gaff by many constituents (voters, press, analysts) where, in response to a question regarding taxes, Romney said that “corporations are people too!”.
Fortunately for both of us, this post isn’t going into the economic theory that Romney was referring to explain his retort but there is an interesting nugget of an idea buried in that phrase that deserves some scrutiny and healthy debate. So, let’s do that..
First of all, as B2B marketers, we’re constantly referring to, and constructing ICPs (Ideal Customer Profiles) and personas for our media campaigns – and, at times, using them interchangeably, when in fact they are very distinct – and should be.
An ICP is an ideal customer in the form of a company (or account in the lexicon of ABM) and a persona is the aggregated characteristics of the target buyer as an individual person. ICPs are made up generally of objective characteristics such as revenue, geography, employee size, vertical/industry, and business-related challenges, objectives, etc..
But to tie Romney’s visceral response to an anti-tax heckler with this marketing construct, I posit that there’s real value and advantage to thinking of companies (your ideal customer companies) not as abstract, corporate entities but as people, that have levels of maturity and personalities, are on different journeys, have unique stories to tell and are motivated by and strive for varied ambitions and goals – just like people.
And when embarking on an ABM campaign, pursuit initiative or a lead generation effort, thinking about your company targets as if they were people will result in the development of more relevant content, enhanced targeting, more efficient investment deployment, stronger and deeper relationships (yes – relationships with companies) that ultimately, can drive better business outcomes from your marketing motions.
So truly embracing this concept can be a game-changer and to play this out, let’s look at why viewing companies as personas and recognizing their respective and specific journeys can give marketers a fresh, beneficial perspective on how to engage more effectively.
1. Companies Evolve and Grow, Just Like People
Every company starts with an idea, a dream, or a gap identified in the market—much like the ambitions and goals we set for ourselves. They evolve, facing challenges, learning from mistakes, and celebrating victories. When marketers grasp a company's evolution and growing pains, they can craft stories that resonate more profoundly with their audiences.
2. Emotional Connection Is Universal
While companies are entities, they are run by people and for people. They have missions, values, and cultures that evoke emotions. Apple isn't just a tech company; it embodies innovation and thinking differently. Coca-Cola doesn’t merely sell beverages; it promotes happiness and togetherness. By approaching companies as personas, marketers can tap into these emotions, forging stronger connections with customers.
3. Better Account Segmentation
Just as individuals have different personalities, so do companies. Some are risk-takers, while others are more conservative. Some are youthful and energetic, while others are mature and calm. Recognizing these 'company personalities' can aid marketers in segmenting their accounts more effectively, tailoring messages that resonate with each segment's unique traits.
4. Companies Have Relationships
Companies, like individuals, have relationships with their customers, partners, and even competitors. By understanding these relationships and their dynamics, marketers can tailor campaigns that reflect real-world interactions, making them more relatable and authentic. There have been studies addressing the EQ of companies and how B2Bpurchaser’s decisions are impacted by how companies behave, represent themselves and interact with buyers.
5. Life Stage Marketing
Much like humans have different life stages(infant, child, teenager, adult), companies too have various phases – startup, growth, maturity, and possibly decline. Marketing strategies for a startup, bursting with energy and out-of-the-box ideas, would be vastly different from a mature company that relies on its legacy and established trust. Recognizing a company's life stage allows for more relevant and targeted marketing campaigns. For example, a mature company in a competitive market may need to invest more in branding vs. a younger company with high growth where more investment in performance marketing will deliver higher returns.
As marketers, a key goal is to connect, engage, and inspire action. By viewing companies as entities with their own personas and journeys, we can unearth authentic stories and emotions that resonate more deeply with our audiences that are employed for those entities –and who are ultimately making the buying decisions. It allows us to craft marketing strategies that are not just based on products or services but are rooted in experiences, aspirations, and emotions. So, the next time you design a campaign, think about the company's persona, its journey, and transform your perspective of ICPs from industry-specific view to intimacy-centric and see how different your go-to-market can be.
Roland Deal, Co-founder & President
