Competition is tough, and it is getting tougher. Unless you are at a critical size to service everyone, it’s often recommended that you specialise. By vertical, functional process, or by technology. The fact is that even the biggest solution providers out there would probably benefit from some specialisation.
WHAT DOES IT TAKE?
It's a big question but what does it really take to be a successful reseller, in today’s market? The bottom line is that when there is a general lack of differentiation in the market, price ends up being the primary differentiator. As you all know, this can erode margins and trap resellers in a business they can’t afford to invest in. The good news is that since most resellers have not yet differentiated, if you begin your differentiation journey now, you will be ahead of the curve.
We can no longer afford to be all-things to all-people. The pressure on pricing, and therefore margins, is too extreme, and it is not what customers want. They want to work with experts who deeply understand their business. Being the best integrator in a local region is no longer a competitive advantage. Today, customers can easily find experts with a simple web search.
BECOME AN INSIDER WITH MARATHON
Becoming an expert, especially a vertical expert, is a tremendous opportunity. The deeper you build your skills and market understanding, the more competitors you eliminate and the greater your influence. Services from Marathon can set you apart, without a major investment, giving the ability to scale as your business grows. Ultimately, your goal should be to be perceived as an “insider” in the market, which eliminates all competitors who are not. As you gain market expertise, see if you can further refine your specialisation to a more specific customer profile.
HOW TO START
1. Focus on a market that you have had success in and define what makes that market unique. Is the market a vertical, a function or a process?
2. Build a target market profile for that focus, including a market “needs and requirements” section. Keep a central record of this market profile so that all employees can access it and provide input.
3. For each project you complete in your target market, look for learning and common requirements to add to the target profile. Continually refine your target market profile as you gain experience.
As always, the Marathon team are on hand to help you plan this out and provide structure, resources and marketing support. Book a meeting via with Marathon PS and let us help you make it BIG as a specialist!