Categories
- Sabina
- Marketing
- 06-22-2020
Unlocking Vertical Marketing
Developing a Vertical Marketing Plan
As a vertical market strategist, I want to maximize the engagement efforts and likely shorten the sales cycle, and lessen the cost of sales.
Analyzed existing campaigns and sustained the market shares;
Understood their products, product performance, and technology;
Understood their competition and competitors’ products in similar categories.
Acquired and gathered enough data on product and service pricing structure and tried to come up with a competitive price analysis;
Analyzed existing promotions, maintenance services warranty and came up with a competitive analysis. Also, I collected data from the business reports, customer reviews, customers survey reports, product review reports, and other reports that might help me filter and understand the problems;
Also, I checked the data product returns and quality assurance;
Checked and rechecked the list if I missed any important data;
Room for improvements in the present strategy:
Determined strength and weakness by SWOT analysis which was built on the analysis of data I got above
How to incorporate new ideas into existing products and strategy
What challenges the vertical clients were facing using the existing products
What other companies are doing that my company is not doing
Finding new prospects:
Create a marketing profile working with all associated departments, especially with the sales department fitted to “ideal targets”
Analyze existing customer base and marketing campaign
Develop a list of 100 to 200 targeted customers matching the profiles. This might be done depending on the revenues, size of employees, number of locations
Develop a list of Industry Associations using trade shows, current and past leaders of the industry, buying memberships, buying lead generating project database.
Reading different publications to learn the issues that vertical customers are facing and contacting editors to feature the company’s latest innovation. Also generating leads from the publication directories.
Get referrals from different Influencers in the industry by emailing the current newsletter of the company.
Develop a database in CRM with contact information of all potential prospects, influencers and create sales messaging for different types of position
Train staff on how to create ongoing awareness to stay connected with verticals by email marketing, sales calls, new programs, and promotion announcement, sending promotional seasonal products.
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