How can you segment customers by industry vertical?

1 What is industry vertical segmentation?

Industry vertical segmentation is the process of dividing your potential and existing customers into groups based on their industry sector, such as healthcare, education, retail, or manufacturing. Each industry vertical has its own characteristics, such as size, growth, regulation, competition, and innovation, that affect the demand and preferences for IT products and services. By segmenting customers by industry vertical, you can identify the most profitable and attractive markets for your IT solutions, and focus your resources and efforts on them.

3 How to segment customers by industry vertical?

To segment customers by industry vertical, you need to research your target markets and gather data and information about each industry vertical. Sources such as industry reports, trade publications, online databases, and market research firms can help you identify key decision-makers, influencers, and stakeholders in each industry vertical. You should also define criteria and categories for grouping and labeling customers by industry vertical. This can involve using NAICS or SIC codes or creating your own categories. Additionally, you need to evaluate and validate your segments by collecting feedback from customers and prospects. Surveys, interviews, focus groups, or case studies can help measure the characteristics, needs, preferences, and behaviors of each segment. Finally, you should monitor and update your segments regularly as industry conditions and customer expectations may change over time.

4 How to use industry vertical segmentation for IT sales?

To use industry vertical segmentation for IT sales, you need to develop a sales strategy and plan that is tailored to each segment. This includes aligning your sales objectives, activities, and resources with the segments, setting measurable goals for each one, assigning roles and responsibilities to your team, and establishing a sales process with the appropriate methods and tools. Additionally, you need to customize your sales offer and message to the needs of each segment, using language and terminology that resonates with them. Finally, it is important to nurture and grow your sales relationships by providing relevant information and support throughout the buyer journey, following up regularly with each segment, offering incentives, soliciting feedback, and providing upsell and cross-sell opportunities.

5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?