A vertical market is a group of similar businesses that has a common set of needs for products and services. Customers in the same vertical market have the same types of applications, and they often have the same business issues.
Getting to know a vertical market helps you sell because you:
- Understand your customers’ business
- Know what products and services they use
- Can speak their language
- Can emphasize the benefits that are important to their business
The more you understand about the concerns and issues of these vertical markets, the more credibility you will have with your customers because you’ll be “speaking their language”. You’ll be in a better position to recommend offerings that address their business needs. Start by focusing on the top two or three vertical markets that your company serves.