Launching a New Vertical Market

As we roll into 2024, I’ve started a new role as a global lead in building an IT Channel practice from the ground up. I’ve been fortunate enough to have developed IT Channel practices a few times prior in my career.  During this venture, I’ll be occasionally documenting my efforts along with the successes and challenges in posts on LinkedIn.

              My current employer, DemandScience, is a global leader in using AI-powered insights to assist both tech marketers and tech buyers during the latter’s buying journey.  Developing a higher propensity and engagement model during a buyer’s journey enables tech brands and the channel to cultivate a buyer’s interest – and later, their business. The company has been a leader in the marketing technology space for over 10 years now – and serves primarily high-tech clients globally.

              During my first month in the role, I’ve spent significant time in preparing to set the stage for 2024 – both looking with an internal ( sales / marketing ) set of eyes and external ( the clients we aim to serve ).  Here are 3 key areas that should be first steps in launching your new programs :

Take Time to Build Your Vision

              For anyone in sales longer than a year, the old adage ‘ Time is Money ‘ is a simple yet true statement. Prior to starting at a company, you do your best to do your research, speak to your own professional network and develop some type of internal understanding of the organization from your past experiences.

              The real work begins your first week, however, on the job. It is then that you speak to various department leads, listen in on customer calls and go through the employee training so you can begin building a holistic mental framework.

              Takeaway :  Allow yourself at least a month to put together your vision

Find Internal Champions

              Let’s face it – not everyone will be as excited as you are in building your program. And that’s to be expected. During that first month, however, you will begin to see individuals who ‘ catch ‘ your vision, passion and desire to build and succeed in your new venture. Take at least a few weeks to conduct your own ‘ interviews ‘ within the organization so you can continue to create internal champions by clearly explaining the vision and opportunity.

              Speaking from a sales lens in particular, your ability to be an evangelist for whatever service or product offering you have has to be a passion. If you lack enthusiasm for what it is that you’re responsible for developing – well, people will see that right away.  Be positive – stay bullish. The vision you lay out early in the process is how you begin to build not only your brand but champions.

Data Is Your Friend – Embrace It

Once you are in role and can access internal systems and dashboards, do everything possible to get as much historical data as possible – not just about the organization itself, but seeking data and insights about the marketplace from research firms, etc, that will inform the decisions you make early on. External analysts, industry reports and your own professional network are critical to building your business.

Some of the data you view may not be comforting. It can show large gaps, missed opportunities and a low level of understanding and uncertainty. But remember another old adage :  When ( data ) gives you lemons, turn it to lemonade. The gaps and missed opportunities to serve markets in the past – make those your friend.

              Look for more articles in the coming months !

About me  :   I’ve served in various leadership positions across the high tech IT Channel, including companies such as CDW, AMD, CBS Interactive & LinkedIn for over 25 years. I’m an experienced high tech sales leader having sold solutions ranging from SaaS, DaaS, Cyber & Analytics. The most enjoyable parts of the roles I’ve held always involve coaching people, developing new initiatives and engaging with customers in helping them solve their own market challenges.

The views contained in this article are solely my own – and may or may not reflect my current role, colleagues or organization past or present. Drawing from my own 25+ years of experience in the IT Channel, I’ve put this article together.