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Successful Vertical Marketing

4:00 AM, Posted by Franken, No Comment

While defining their markets, most vendors do the analysis based on what they think. However, the ideal situation should be where they take into consideration how their target customers think. It is here that the concept of vertical marketing comes into existence that champions the cause of doing business based on the specific and specialized requirements of the customers.

Since vertical marketing concentrates on niches or specific vertical markets, you can plan a focused marketing effort to convey the message that's tailor-made to suit what your targeted customers want to hear. So, for successful vertical marketing, your first step will be to find out the customers belonging to a specific industry or discover what your niche markets are. Remember - it always pays to market your products or services to some targeted groups who are likely to buy from you rather than taking it to everyone, most of whom may not have the slightest interest in your offerings.

While doing the research for your verticals, try to learn some basic demographics about them, which in turn will help you to find out the highest concentration of prospects. After you have identified your verticals, develop a common language for your executives in particular and business in general that can address people across the various verticals. Remember - you won't be able to match the vertical market leaders within a few days. So, plan well and start working on your marketing strategies with perseverance while you are positioned lower on the maturity curve.

You next step should be to develop an engagement level between your customers and your offerings. You can do this by achieving a deep understanding of what works the best for your targeted customers and what drives them away. With such a deep understanding of the needs of your verticals, you can design products or services that are bang on target, so much so that even your customers consider your solutions to be the only viable option for their requirements and don't mind paying a premium for procuring the same. So, you not only stand to gain a loyal clientele but can even market your offerings at a higher price tag than your competitors.

If you are wondering how vertical marketing can bring loyal customers your way, here's the catch - unlike traditional marketing where products and services are mixed and matched to serve a wide variety of customer segments, without any of them offering a total solution for the customer, vertical marketing does just the opposite. So, it begins with the process of choosing targeted customer segments, understanding their needs intimately, and delivering a total solution for each of these targeted segments through a vertical marketing system. So, each customer segment gets a total solution and need not shop at multiple places to get all that they need. No wonder that they will find it much easier to stick with a vendor that gives them such an advantage and meets all their needs under one roof.

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