Vertical Markets focus on a specific niche and target audiences in a customized manner. Businesses offer goods and services specific to an industry, trade, profession, or other groups of customers with specialized needs. Contrary to a horizontal market, in which businesses offer a non-specific, broad range of goods and services to a large group of consumers with a wider range of needs.
Embrace Smart Marketing
If your business model fits a vertical marketing platform, you are able to laser focus your efforts and embrace modern marketing as a way to navigate your specific industry while increasing awareness of your products or services. As a result, you will inheritably build community relations, awareness and leverage growth opportunities.
For example, companies that produce highly specialized products will often appeal to a narrow target demographic utilizing vertical marketing strategies.
What the Experts are Saying
Economists have identified 13 categories for vertical markets in the United States. Of these Financial Services and Healthcare have the highest concentration of audience and opportunities for marketers.
- Wholesale trade
- Information technology
- Retail trade
- Financial services
- Educational services
- Transportation and warehousing
- Entertainment, accommodation, and food services
- Healthcare and social services
- Public administration
Vertical Markets are First and Foremost Consumer Focused
You must fully understand the demographics, needs, and desires of your target audience. For example, what are the major market trends? Where do they buy? How do they spend their money? Do they shop online or in person? Where do they research? Are they active on social media? What age group are they? What are their saving and spending habits? All these traits are factored into your marketing plan and how you will engage with them. Once you have a distribution model you can now choose how to communicate your message.
Next, build your plan and create beautiful, compelling and professional marketing materials.
Will you use a digital platform: emails, newsletters, web site, and social media? or Will your audience require one on one interactions such as brochures, events, booklets. Either way, doing the work up front to identify your audience and designing a modern marketing plan that is smart and efficient will propel you ahead of the pack.
For more marketing and creative design ideas contact us at Alpha Graphics Alpharetta