When a company focuses on acquiring new business within specific industries, it’s often referred to as vertical marketing. Common industry markets include healthcare, legal, banking/finance, education, manufacturing, shipping, oil/gas, and government.
What Is Vertical Marketing?
Segmenting your sales efforts by industry can be a powerful way to boost results because you make it easier for your prospects to say “yes” to what you offer. For example, let’s assume your company has a technology or communications focus. How would you begin?
You’ll want to select two or three industries you think optimal. This shouldn’t be too difficult once you evaluate your customer list. Here are some ideas for what’s next:
1. Research Your Markets
Work to understand the biggest challenges for professionals within each industry. Would people in these markets implement your products in different ways depending on their profession?
2. Identify and Assemble Customized Solutions
How do your current clients use your products or services? For instance, if you have healthcare-related customers, are there patterns to what they are buying? What other insights can you draw?
Consider packaging several items together into customized solutions for each industry. If your offerings alone don’t comprehensively address a certain market’s pain points, consider strategic partnerships with other companies. When you combine their offerings with yours, everyone stands to benefit.
3. Illustrate Your Solutions
Topics like “technology” or “communications” often involve abstract concepts that require many words to explain. Keep in mind that your audience won’t want to wade through pages full of technical jargon and complex marketing copy.
Find ways to illustrate your solutions for them. Meaningful infographics and workflow diagrams can be very compelling tools. The less time it takes a prospect to understand what you offer, the faster they’ll be able to authorize a purchase.
4. Develop Targeted Sales Tools
Product brochures are fine. But customized sales tools like one-sheets can convey detailed solutions in the context of their industry. That will resonate in a way that typical brochure product specs just can’t compete with. Vertical market intelligence can also empower your sales teams to pursue new business with more confidence and authority.
5. Animate Solutions When Possible
An investment in video or interactivity is more affordable than ever, and will support efforts on your site, in sales presentations, and at industry events.
If you’d like to learn more about how we can help with your vertical marketing efforts, don’t hesitate to contact us. We can help you reach your customers, speak their language, and encourage them to respond.
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