New Market
or Vertical
“For every successful vertical market expansion, four attempts fail.” TSIA
Many successful companies look for growth opportunities beyond their current markets. Not only do they avoid flatlining revenue or market share when a selling space becomes stagnant, but they also keep pace with or even pull ahead of competitors. While the thought of an untapped customer base is exciting, successfully breaking into a new market or vertical requires careful planning and preparation.
Why It’s Hard
- Solutions, content, and even experiences feel commoditized, so it’s nearly impossible to break through and be seen as offering unique value
- Adjoining industries often have different languages, customer priorities, and competitive landscapes
- You need to translate past success into value for a new audience – which is not always automatic or a given
How We Help
- Set strategy based on identifying ideal opportunities for complementary growth
- Develop messaging and materials that clearly establish ability to drive business outcomes to a new audience
- Train sales reps and partners in how to have a Compelling ConversationTM with prospects in a specific market
