Understanding your customers' vertical markets can elevate you from being a commodity supplier to a trusted partner in the business-to-business marketplace. This is critical in today’s competitive marketplace, where personalized, relevant communications are crucial to success. In your next marketing communication, having a more profound understanding of your customer's vertical market can help you in three key ways:
Reflecting your understanding of the latest trends and challenges in your customer's market.
Speaking the same language as your customer.
Crafting marketing messages that emphasize the benefits most important to your customer's business.
For example, let's consider the challenges faced in the healthcare industry. As a B2B company selling medical supplies to hospitals, say you have developed a solution that streamlines the supply chain, reduces costs, and ensures compliance with regulatory requirements.
Your marketing copy could emphasize the benefits of your solution, such as improved patient outcomes, reduced waste, and increased efficiency. But you want to speak your customers’ language, too.
Here are three ways to do that:
1. Use industry-specific terminology that is familiar to healthcare professionals. Instead of using generic terms like "supplies" or "inventory," you might use terms like "medical consumables," "durable medical equipment," or "pharmaceuticals."
2. Address specific pain points or challenges that healthcare providers face daily. For example, you might highlight how your medical supplies help hospitals with their most pressing needs, such as reducing waste, improving patient outcomes, and complying with regulatory requirements.
3. Demonstrate your expertise. Don’t just say it — show it! Demonstrate your expertise in this vertical market by highlighting your experience working with hospitals, your knowledge of industry regulations and standards, or your partnerships with leading healthcare organizations.
These examples come from the healthcare industry, but the concepts apply to any industry. So take the time to understand your customers' vertical markets. This will help you build a stronger relationship with them, differentiate you from competitors, and create a more valuable and long-lasting relationship.