Focusing on vertical markets offers many benefits to the marketing and operations sides of a print business. The challenge for organizations is that this strategy requires thinking as hard about where they don’t want to sell products and services as where they do.
The key advantage of specialization: It allows organizations to focus their marketing efforts and production resources where they are likely to have the greatest impact. Focusing on key select industries offers printers these five benefits:
1. More effective sales messaging. Understanding the nuances of an industry leads to reality-based sales and marketing messages that demonstrate a clear understanding of prospective customers’ needs. For example, the things that matter financial services firms are very different from the things that matter to retailers.
2. Increased opportunity to position yourself as an expert who understands unique needs. Focusing marketing efforts on a select number of industries and demonstrating industry knowledge and understanding captures market attention and boosts the confidence customers and prospects have in an organization.
3. More ability to target the most profitable customers. Following the trends in an industry, understanding terminology, and profiling industry leaders offers key insights to select and pursue the best prospects.
4. Better use of resources to identify, learn about and reach decision-makers. Focusing attention on an industry to understand its dynamics, characteristics, and key trends provides a solid foundation to identify new opportunities, unmet needs, and key decision makers and influencers.
