Let’s start with quote from Adam Callow at our most recent Infraction community session;

"Defining your ICP means understanding not just who needs your service but who will also see the most value in your offering. Where those two circles overlap is where high impact enjoyable work takes place."

As companies across the globe become more familiar with hiring fractional talent to join their leadership team, getting clear on who you can add the most value to is a critical positioning exercise that all fraction executives should undertake.

You have to differentiate yourself as a fractional vs a consultant and understanding who your ideal client is and communicating that in the most effective way can significantly amplify the effectiveness of your client acquisition strategy for years to come.

This was the central theme of a recent Infraction community session with our inaugural cohort. Fractional executives from across the world shared insights on how they think about identifying and targeting ideal client profiles (ICP).

Drawing on those insights from the conversation, this post will serve as a guide on how you can think about the process of crafting a message that will resonate with your ICP.

Understanding the Basics of an ICP

An Ideal Client Profile isn't just a demographic or firmographic outline; it's a comprehensive description of the type of client who would most benefit from and value your services.

It can factor in various attributes such as:

• The pain points they have that you are expertly positioned to solve

• The type of industry or industries that they are working in

• Company annual revenue and team structure

• Founder type and values

• Platform or tech specifics

• Regulation in their industry

The list of attributes that could contribute to your ICP is close to endless, but for your purposes you should be able to narrow the focus down to a handful of key points that you can say with confidence that you are expertly positioned to help with.

Having this perspective shifts the focus from a broad potential market to a more targeted segment, allowing you to enhance marketing efficiency and alignment with your potential clients.

Why defining your ICP is important?

The global talent market is opening up at a rapid pace. More and more companies are working with remote talent as they see the huge benefits that come from this kind of flexibility.

That’s not to say that all fractional executives are remote, but we’re definitely competing with that global talent pool and we need to stand out.

Having a clear ICP and unique position on how we can add value to them is incredibly powerful. We become a clear signal in a sea of noise. 

Additionally, doing fractional work is naturally a very referral driven space. By doing great work for one company, you build a network that understands who you are, how you work and the value you create; this is arguably the most important growth lever for any fractional.

In order to become ‘referable’ it’s important to craft a clear, simple and unique position in the market. This allows  others can remember and  refer your services to other potential clients that have problems you can solve.

Let’s look at the steps we can take to define our ICP and positioning strategy.

Steps to Define Your ICP as a Fractional Executive

During the Infraction session, we had multiple fractional CMOs, CFOs and COOs talk through how they define their ideal client profile.

And, as much as we would all like there to be the perfect formula for developing an ICP and positioning ourselves correctly to attract those profiles, being a fractional is such an individual experience that it makes the hunt for a perfect formula difficult.

That being said, we did all agree that there were multiple ways that we can think about creating a clear description of who it is that we are best positioned to help.

1. Identify Pain Points

Start by identifying common challenges or 'pain points' your clients face that you can address. For example, a Fractional CMO might focus on DTC e-commerce brands that are struggling to generate profitable growth from the current media buying efforts.

2. Industry Specifics

Your expertise might cater better to certain industries due to your past experience. For example, if you’ve had 10 years experience working as a CTO in the banking sector helping with digital transformation, you may be best suited to work with clients in FinTech startups as you can guide them through those early stages with ease.

3. Founder Type

Most fractional positions are leadership positions like CMO, CTO, COO etc which means that you’ll most likely be reporting to the founder or CEO. Understanding the type of leaders you work best with can also define your ICP. Are they visionary or hands-on types? Each type will have a different working style and business needs.

4. Client Qualities

Laura Dunkley, a Fractional CMO and owner of Acorn Marketing, described how she looks for specific qualities in her ideal clients,

"We have a list of qualities that we look for in our clients and clarity is one of them. They need to be clear about what success looks like."

Understanding these types of traits can ensure a smoother working relationship but can sometimes be difficult to identify in early stage conversations.

5. Platform Preference

Some fractional executives have deep expertise in specific platforms. If you’re a Fractional CTO, you may be highly specialised in working with clients that have a specific tech stack. Or a Fractional CMO that focuses on e-commerce may be best suited to helping clients who run on platforms like Shopify or Magento.

6. Company Size and Resources

Finally, the size of the company and its resources can influence your ICP. A Fractional CFO might target small businesses with small teams that need to outsource complex digital marketing tasks.

Use all of these categories and anything else you can think of to create a short description of your ideal client. Once that is done, you will be able to get a lot clearer on the value you provide.

Knowing your ICP is like having a roadmap for your client acquisition strategy as it helps guide every decision around positioning and going to market.

Developing Your Unique Positioning as an Expert in Your Field

Once you've got a good understanding of your ICP, integrating this knowledge into your positioning is critical.

As mentioned before, we need to get clear on what we’re best at solving and for who. This really needs to be boiled down into it’s simplest format.

With your ICP description in mind, start by writing down what specific problems you solve for them. By identifying a handful of problems that you are an expert at solving, you should be able to uncover the real value of your offering in a simple one or two sentence format.

Here are some examples:

For a Fractional CMO Specialising in E-commerce

"I help e-commerce brands optimise their multi-channel marketing strategies to maximise online revenue."

This statement targets e-commerce companies looking for expertise in managing and enhancing their marketing efforts across various platforms.

For a Fractional CFO Focused on Startups

"I empower startups to achieve financial clarity and secure funding by providing expert financial strategies and management."

This positions the fractional CFO as a crucial asset for startups that need sophisticated financial guidance to navigate early-stage challenges and opportunities.

For a Fractional CTO with a Focus on SaaS Platforms

"I enhance SaaS platforms by accelerating product development and optimising operational technology strategies."

Aimed at SaaS companies, this statement underscores the CTO’s role in driving technological advancements and operational efficiencies.

For a Fractional COO in the Manufacturing Sector

"I streamline manufacturing operations to boost productivity and reduce costs through lean management techniques."

This highlights the COO's expertise in improving operational efficiencies in manufacturing, a key concern for businesses in this sector.

For a Fractional CHRO Specialising in Remote Work Cultures

"I cultivate high-performance remote work cultures by implementing innovative HR strategies that enhance employee engagement and productivity."

This positioning statement is particularly appealing to companies embracing remote work, focusing on the CHRO's ability to develop HR practices that support a thriving remote environment.

Wrapping up

Crafting an Ideal Client Profile is more than an exercise in marketing, it’s a foundational element of your future growth as a fractional leader. 

The insights shared during our recent discussion underscored the importance of creating a well-defined ICP, which can not only improve client acquisition but also client retention.

As Adam succinctly put it in our recent session, "We're not selling the thing that we offer. We're selling the transformation that we can take a client on.”

This approach doesn't just save you and your client time trying to identify if you’re a fit,  it also sets you up as a preferred provider in your niche.

Crafting your Ideal Client Profile is key to scaling your success as a Fractional Executive. Visit infraction.io to access actionable tips, expert advice, and a community of like-minded leaders ready to help. Let’s build your fractional future together.