In a market where companies are increasingly looking to the cloud and hosted solutions, it’s important for partners to recognize where companies are placing their priorities and to recognize the value of vertical marketing. Focusing on vertical markets can help you best target hosted PBX sales.
According to Eastern Management Group’s Worldwide Hosted PBX Market 2017-2022 report, vertical marketing is the next wave of opportunity. And given the growing number of companies you have to compete with for hosted PBX opportunities, vertical marketing makes sense as a viable option to increase revenues. It shrinks the competitive field, while also enabling you to build your knowledge base and credibility.
Consider a common activity when buyers are looking for hosted PBX solutions. These individuals tend to do their own homework. They’ve identified their needs and their budget. They reach out to vendors on their own, likely selected from a list of companies at the top of a Google search. If you haven’t invested heavily or correctly in your SEO strategy, you’re sunk. What’s worse, you can’t control a number of other variables such as a recommendation your prospect got from a colleague – and they didn’t recommend you.
If you could instead select a specific field you want to target, match your pitch to your specific buyers, price according to their sweet spot and become an expert in their challenges and opportunities, how many more hosted PBX clients would you be able to close? Taking such a leap can seem intimidating for those who are used to the size of the target market, but even some verticals are pretty extensive. Plus, many of them haven’t been singled out as much by hosted PBX providers, making them ripe for targeted messages.
The key to success in vertical markets is start small and go after a segment that presents the least amount of risk. While that can also mean there’s less opportunity for higher profits, it’s the perfect place to hone your processes, messages and even offerings. Then, once you’ve perfected your system, you can evaluate the available vertical markets and focus on those with the most money to spend. If you’ve done your homework correctly, you should be able to be the expert these companies need and they’ll pay the price you’re asking.
This is where eXemplify can help. We’ll serve as the ideal partner you need to perfect your vertical marketing message and deliver the value your customers have come to expect. Contact us today and let’s start the conversation about how you can expand your opportunities and turn a better profit.