If you suspect your ICP might be due for a tune-up (or a complete overhaul), it's time for an ICP Audit. But what are the indicators that the ICP needs overhaul?

• Longer than usual sales cycle
• Lower lead generation and conversion
• Higher customer churn
• Product / services evolve beyond their initial stages

The key pillars of ICP that needs to be audited are:

• Firmographics - right industry and segment along with decision makers
• Tech stack / platform usage - are the targeted prospects using the tech stack which is in your wheelhouse of expertise
• General market evolution - changes in economic environment and competitor landscape
• Behavioral and Physchographic - client cultural fit and value systems
• Customer profitability (for existing clients) - including their engagement complexity

And an incorrect ICP isn't just a minor misstep; it's a compass pointing you in the wrong direction, leading to wasted marketing spend, frustrated sales teams, and higher customer churn. It makes sense that every annual planning cycle should allocate time to review and redefine the ICPs.