Since I’ve started managing lead qualification initiatives with the B2B technology companies in our portfolio, I’ve seen some excel with flying colors, and others that struggle to build a true engine.
So why were some more prosperous than others? Sure, there have been a number of smaller factors that have impacted the success of these types of programs, but one major trend that I’ve noticed among the teams that have succeeded: They were focused on targeting the few segments that they KNEW they could win based on thorough research and analytics.
Expansion stage technology companies that think that they can be everything to everyone are headed down a dangerous path.
“Well, so many industries can benefit from our product/services! Why should we limit ourselves?!”
Sure, it’s a great thought. And perhaps numerous companies within many industries can use your offering in a slightly unique manner.
But in order to scale at an accelerated rate at the expansion stage, the targets can’t be so broad. Especially if launching a lead qualification initiative, or outbound calling campaign, is a key strategy for your sales team.
Why is targeting specific verticals as a sales strategy so much more efficient?
- More valuable content can be created/shared that is customized towards your target audience
- Overall messaging is likely to be clearer and more succinct
- Share a greater number of success stories that your target audience can relate to
- Relevant features that apply to that particular segment
At the end of the day, if you become the household name within a particular segment, then you are likely to see deals from referrals and word-of-mouth will start to fill your pipeline.
What do you think? Are you going down a dangerous path as an enterprise B2B technology company if you are selling into numerous segments without having a true focus? Please share your thoughts.