VerticalTech – More than a new catch phrase; it’s knowing the business

You’ve heard of FinTech, EdTech, ConstructionTech, and more. Well, I am here to say they all should roll up under a new category – VerticalTech. Let’s face it, when we talk about these niched vertical technology offerings most of the time we are talking about ERP, CRM, SCM or another business process solution, but that is just focused and designed for a specific vertical.

Look at companies such as Tessitura Network They describe themselves as, “a unified platform that brings mission-critical functions into a single database — ticketing, admissions, fundraising, memberships, marketing, business insights, education, online, mobile, and more.” In other words, ERP with a big dose of CRM for performing arts and cultural organizations.

Or, look at NeonCRM which helps nonprofits and associations grow, inspire, and scale. Duh, CRM because it is even in their name!

And, BuilderTREND is a construction management software system designed for home builders and remodelers. Are we talking PMS? Project management software. Yes, we are.

So why all the hubbub? Well, I guess it is a way to differentiate and certainly is more catching than ERP for theatres or CRM for nonprofits and associations. But the driving force here has nothing to do with what the actual software is. It has everything to do with who you are marketing it to and who is the purchase decision maker.

That’s why when it comes to marketing and communications efforts you must understand the target market and target individual who will decide on the purchase or at least highly influence it. Personas is the hot topic in marketing today even with b-to-b audiences, but once you understand your targets, you need to know how to message to them and speak their language. That isn’t IT or technology speak anymore and in the world of vertical technology your success is highly dependent on knowing the market, the application and the people making the purchase decisions. Good communicators and marketers can help you do that.

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