Five steps for NetSuite Partners to implement a winning micro-vertical marketing strategy in 2022.

NetSuite Partners that are offering micro-vertical specific solutions are able to better identify and target potential clients and their executives. It can be hard to get C-level decision makers to take notice in an increasingly competitive NetSuite partner community landscape, however showing that your business and team have highly aligned micro-vertical experience and expertise can hugely increase your chances of getting through the door.

Micro-vertical marketing is a modern approach to lead generation.

Going Vertical

Customers want to find a trusted expert in their field, and are willing to pay more for it. A recent McKinsey study on tech start-ups showed that 38% of vertical-oriented companies had an annual contract value (ACV) greater than $100,000 per customer. Only 4 percent of horizontal-focused companies achieved this level of revenue per client. A study on managed service providers found that nearly three quarters (74%) of those at the top reported focusing on clients within specific vertical industries.

Expertise and Vertical Perspective

It is essential to have enough industry knowledge at all levels of an organization. This vertically connected perspective can be found usually at the sales level, with perhaps a few marketing people who can create content that addresses unique industry problems. This is a great start. However, a vertical perspective should also be available in areas such as implementation teams and product development departments. Vertical marketing's purpose is to align with the niche. It is important that the organization also align its perspective.

So why micro-vertical?

The answer is simple: vertical business models work better for service providers and customers alike. A recent study from the Harvard Business Review showed that "verticalized businesses grew revenue at 5x the rate of horizontally focused firms from 2009 to 2013."

The Modern Micro-Vertical Marketing Model

Micro-verticals are largely untapped markets for many NetSuite partners and implementation service providers, and few companies are taking full advantage of them. This is an opportunity for service providers who want to grow their revenue by finding new ideal clients in specific areas.

Micro Vertical Marketing. How to get started? 

These are the five steps you should take.

1. Evaluate your current capabilities. 

First, identify the right vertical markets for your company. Concentrate your efforts on vertical markets where you can provide real value and your NetSuite solutions and customizations and implementation services are most effective. You should consider the business value that you can bring and the capabilities that will make an impact on their organization's performance. Each industry is unique and has its own set of complexities, requirements and challenges. Which one will prove to be most profitable for you? There may also be economic or geographic reasons to favor one industry over the other.

2. You must be willing to invest. 

It takes time, effort and money to establish your organization as a reliable resource or expert in a particular sector. You must be willing to invest. Perhaps more important, you need to be committed to success. Talk with your employees to make sure that you are all on the same page. You'll struggle to reach new markets if you don't have a long term strategic plan, a shared vision with your employees, and the funding and commitment required. Before you move forward, take the time to determine the who, what and why.

3. Learn the language. 

Vertical marketing can be summarized by saying that people will believe you if you speak their language and prove you understand their business. You must ensure you are familiar with the details of your target industry. Your team and you must understand the issues that impact growth, the terminology used in the industry and the buzz-terms. You should be able to communicate with clients in their native language. This is essential to become a trusted advisor for your customers.

4. Identify your personas. 

Once you have an understanding of the vertical you want to target, you can identify specific buyers in the niche and learn how they interact with potential vendors. Who are their decision-makers? What are their demographics? What makes them different from other personas? Different market segments may have different ideal personas. While you may have the greatest success with IT or finance leaders in one niche market, your chances of success in another are better with compliance officers, marketing directors, and sales directors. Don't forget to include all other people involved in the purchasing process. These can often be the difference between success and failure.

5. Create a content strategy. 

After you have identified the buying personas and your target vertical, you can develop a content strategy to support your efforts in a way that resonates. It is essential to communicate clearly and concisely what you do, why it matters, the results, and the steps that potential customers should follow. Without this ability, your vertical marketing efforts will be stymied. Use social media, paid advertising and trade media to communicate "your story". Your efforts to create a vertical marketing strategy will make your message stronger and more credible.

How will you market in 2022?

If you think that your current marketing efforts are not generating the exposure you want or need, consider using micro-vertical marketing. This approach can help you more easily reach specific target niche markets within the larger industries cluttered with competitive marketing campaigns that have higher impacts and lower costs.

SaaSMouth offers services designed to enhance your brand and exposure in key vertical markets including:

• SEO Optimization
• Website Development and Management
• Industry Aligned Content Creation
• Social Media Management
• Lead Magnet Creation

If you are interested in learning more about micro-vertical marketing, or how we have helped clients such as Crafted ERP, WeighPay and TeamBlueSky, get in touch to arrange an obligation free consultation.

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