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Marketing Verticals
They Just Don't Fit Your Business.....
Do you get annoyed when people ask you what is your marketing vertical?
This is a common problem for businesses that provide Software as a Service(SaaS), App Developers and Technology providers.
Your product and service is not limited to a marketing vertical.
How do you create a marketing plan when your marketing vertical is horizontal?
Get the free ebook now.
This ebook will teach you how to:
- Ask the right questions from your current customer base to develop a marketing strategy.
- Develop a content strategy based on your customers.
- Present a concise description of your ideal s that sales & marketing will understand.
- Create a Marketing Plan when your Marketing vertical is Horizontal.
What Is a Vertical Market?
A vertical market is a market encompassing a group of companies and customers that are all interconnected around a specific niche. Companies in a vertical market are attuned to that market’s specialized needs and generally do not serve a broader market. As such, vertical markets typically have their own set of business standards. They may also have high barriers to entry for new companies.
Vertical Market Explained
The global business market provides a multitude of opportunities for all types of businesses. Vertical market providers are focused on specific goods and services that meet the needs of a niche customer group. These markets are the opposite of horizontal markets which sell their products and services across multiple industries with broader association among a variety of businesses and business segments.
A company operating or seeking to work in a vertical market will generally need to take somewhat of a different strategic approach than a horizontal market company. Vertical market businesses may be industry-specific or demographic-specific. Regardless, they seek to target a narrow market that has its own idiosyncrasies. In some cases, business managers in a vertical market may find certain advantages over operating in a broader, horizontal market.
Advantages of Vertical Markets
Operators in a vertical market can target a particular segment where they have a comparative advantage. As these operators grow within a specified vertical market environment, they also gain expertise in their market’s trends, terminology, regulations and level of competitiveness.
Some of the most considerable advantages for vertical market businesses come in the savings from marketing expenses. Vertical market businesses have the benefit of targeting a narrower customer base. This narrow focus can lead to more streamlined and focused marketing campaigns which are less costly than those seeking to reach a wider mass audience.
Overall, a company that specializes in a vertical can provide targeted insight and specialized services to clients, becoming an integral component of their business over the long term. With specialized products and services, a vertical company can justify charging higher rates which can result in higher profits from a narrowed market focus.
Source: Investopedia