Assessing whether a potential customer is a good match for your product is important to maximize conversion rates and minimize wasted effort. The Customer Fit score is a metric that can help with this evaluation by taking into account firmographic and demographic data, such as industry, country, and company size based on your Ideal Customer Profile (ICP).
With data enrichment products like Clearbit, you can automatically update user records with verified company and contact data, gaining valuable insights into prospects without having to rely on direct feedback. Additionally, you can leverage data from other integrated tools like Intercom, Hubspot, or Salesforce. To further refine the Customer Fit score, you may also consider including responses to relevant questions in your signup flow, such as job title or intended use of your tool.
In this article, we’ll set up a customer fit score based on the following Company characteristics, using enrichment data from Clearbit:
Country: Norway; United States; Canada
Company size: 20-1000
Annual Revenue: $500k-$5m
Industry: Internet Software & Services; Professional Services
Please note that in order to build scores, it is necessary to ensure that the raw data from your integrations has been added to the fields in Breyta. Fields also need to be added to the Object Types that the score will be created for.
Once you've set up a new score, we can create a Customer Fit score.
Creating a Country condition
Click + Condition and select Range of values.
The Range of values condition has built-in ‘or’ functionality, allowing you to add and weigh multiple countries at once. In our sample use case, we’re looking for Companies in Norway, the United States, or Canada.
Search for and select Country in the select field dropdown.
3. Add the specific countries that match your Customer Fit. Based on our sample use
case, Norway, United States, or Canada match the profile of customers we’re
targeting.
a. Click on + Add range and type in the country name.
b. Add individual scores to your values based on priority.
Finding the Country raw data in the Clearbit integration
Once transformed, the Country origin field was added to the default Country field.
Creating a Number of Employees condition
Incorporating company size as a criteria for a Customer Fit score can be important for several reasons, depending on your resources and product fit:
Resource allocation: Larger companies may have more resources to devote to purchasing and implementing a new product or service. Therefore, targeting these companies may result in higher conversion rates and revenue.
Sales cycle: The sales cycle for a large company can often be longer and more complex than for a smaller company.
Fit with product/service: Certain products or services may be more suitable for companies of a certain size. For example, a product designed for small businesses may not have the same functionality or features needed by a large enterprise.
Click + Condition and select Range of values.
Search for and select Number of employees in the select field dropdown.
Select by Range as your operator.
The data type of this field is a number, you can choose how you want to score the Range of values condition. Range allows you individually weigh the ranges of values you’ve entered. This is particularly useful for fields like number of employees.Enter your ranges to include in the individual weighting. Any company size left out will automatically received a score of 0 for this condition.
Finding the Number of Employees raw data in the Clearbit integration
Once transformed, the Number of Employees origin field was added to the default Number of Employees field.
Creating a Revenue condition
In addition to company size, revenue is a key factor in assessing a company's growth stage, financial health, and potential. By including revenue data in your customer fit score, you can identify high-value customers who are likely to be a good match for your products or services, allowing you to prioritize your sales and marketing efforts more effectively.
Rather than using the Range operator, you consider using the Min-Max operator for to score revenue. This operator assigns a maximum score of 100 to the highest input value and a minimum score of 0 to the lowest input value. Breyta automatically scores the interval values relative to the range, providing you with a clear understanding of where each customer falls within the spectrum without having to manually enter revenue ranges.
Click + Condition and select Range of values.
Search for and select Number of employees in the select field dropdown.
Select Min-Max as your operator.
Enter your minimum and maximum scores.
Finding the Revenue raw data in Clearbit integration
Once transformed, the Revenue origin field was added to the default Revenue field.
Creating an Industry condition
With Clearbit's comprehensive list of industries, you can easily narrow down potential customers that align with your product or service offerings.
Click + Condition and select Range of values.
Search for and select Industry in the select field dropdown.
Enter the Industry you'd like to include as it appears in the Industry column in Clearbit's documentation
Finding the Industry raw data in the Clearbit integration
Once transformed, Industry origin field was added to the default Industry field.
Condition weights
After setting up your score conditions, you can adjust their weights to prioritize the most important ones and lower the priority of those that matter less. To do this, simply go to the upper right corner of each condition and modify its weight. As you adjust the weights, the total percentage impact of all the conditions will automatically update to reflect the changes.
Learn more about Scores and score conditions.
Summary
The Customer Fit score is a valuable tool to evaluate whether a potential customer is a good match for your product, maximizing conversion rates, and minimizing wasted effort. With data enrichment products like Clearbit, you can automatically update user records with verified company and contact data, gaining valuable insights into prospects without relying on direct feedback. By taking into account firmographic and demographic data based on your Ideal Customer Profile, you can set up a Customer Fit score to boost your sales efforts.
FAQs
Why use the Range of Values condition instead of Part of a Segment?
The Range of Values condition enables you to add and prioritize multiple values for a field while incorporating an 'or' function within the condition.
For instance, let's consider the Industry field: with the Range of Values condition, you can score on Internet Software & Services, Software, and Professional Services, giving each value a ranking based on its importance. Conversely, if you use Part of a Segment, you would need to create a separate condition for each value, which results in an 'and' scoring function rather than an 'or.'
As an example, if a potential customer fits the Internet Software & Services industry and you use the Part of a Segment condition, they would get a score of 100 for that condition and a score of 0 for the other two. This would lead to an inaccurate total score, as two of the score conditions wouldn't be met.
What happens with values that I don’t include in a Range of values condition?
Values that are excluded from the condition are not taken into account during the scoring process. For instance, if you exclude certain countries from your country condition, those countries will not be scored. Only values that are included in the score will be taken into consideration.