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For a definition of a revenue archetype, check out this blog post.
Your ideal prospect, that most-likely-to-buy customer, often begins as a description, a narrative of a character with some needs, values, and circumstances. What your company says and does resonates with them. Now you need to do the hard work of turning your conceptualization into a concrete set of customer parameters and descriptors that can be applied to your target market. This is your revenue archetype and this is how you build a powerful Revenue Database, a B2B contact database that includes every company and person that could result in a lead.
The process of archetyping can be overwhelming, but it’s essential. An actionable and accurate revenue archetype is the difference between a low to medium performing contact list, and a high-performing, segmented B2B contact database that drives revenue growth.
To help, we’ve outlined the five steps that we take at RevenueBase to create archetypes with our clients, and provided our free Revenue Archetype Guide and Template to help do this work at your own company.
Visualize what a prospect looks like. Ask yourself questions like: Who gets members of the sales team excited? What do they dislike about certain prospects?
Find those companies whose needs and desires most closely match your product or service offerings. What problems & pains does the customer have? What job(s) are they trying to accomplish?
Now, you break your market down some more. Determine how to divide your market into segments based on geography, industry, pain points or target buyer?
Next, you look at the organization-level. What are the qualities that would make them the best fit for the services or products you provide? Size, employees, technologies, marketing channels?
Finally, you describe the decision-maker and their job characteristics. What are their titles, jobs, and responsibilities? What are their motivators?
There are many different frameworks and for evaluating and determining your target customers. At RevenueBase, we see our Revenue Archetyping process as the most efficient and effective. If you are looking to streamline your B2B database, optimize sales and marketing execution, and generate more viable leads, archetyping is the best solution.
