Praxis Communications, Inc.

THE VERTICAL MARKETING CHALLENGE: HOW MUCH IS ENOUGH?
Challenge:
If your company is like so many others we've represented, you have a broad product line with applications in a wide range of industries and environments. You would love to be recognized as the industry expert in many of them, but you are also realistic about how difficult it is to devote as much time and manpower as necessary in any single vertical to own the category. There’s just not enough time or money to do an effective job everywhere, so you have to choose carefully what you can realistically accomplish.

Solution:
Compare your product line and your intellectual assets (market experience) with those of your competitors and ask yourself where you can really do a good job in differentiation. Pick one or two verticals (of the many where you have opportunities), and create a budget specifically for them. At the same time, develop realistic objectives and expectations, so you can make a accurate assessment of your program’s accomplishments at the end of the period.

Always start with fulfillment – that's what you're selling. Find or create the material that's going to convince a potential customer that you know what you’re talking about, and create web pages specifically for them. Host application notes, case studies, bulletins and presentations here. Make sure you’ve included a strong call-to-action. Good. Now move on to lead generation and brand-building. Look at available media for each vertical and develop the message and creative. Maybe it’s digital; maybe it’s print; maybe it’s both. That depends on your objectives and budget. Finally, put together a sales plan with presentation materials, and train your sales people how to sell to this market.

Getting it done:
  1. Conduct a short internal survey among your product/application sales and marketing team to determine which verticals are worth pursuing.
  2. Define objectives, budget and media.
  3. Assemble the best minds in each vertical to provide input on your company's selling advantages, and start developing the fulfillment materials.
  4. Research available media and develop a potent creative message for each target.
  5. Develop compelling sales materials for your troops, such as PowerPoint presentations and leave-behinds.
  6. Train your sales staff how to find and pitch the prospects that represent the best opportunities for growth.
  7. Evaluate the program, adjust your tools, media and techniques, and continue.
  8. When you're satisfied that you've mastered each vertical, move on to another one.Develop a group representing each business line/audience segment you represent and have them evaluate each component of “their” web site.

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