Having struggled through years of stagnant growth and market uncertainty, telecommunications and IT professionals are now sensing recovery. However, with the lessons learned from adversity, these professionals are looking at new methods for driving organic sales growth and enabling their customers' businesses to function better. Specifically, these companies continue to migrate toward a vertical marketing strategy wherein the providers come closer to their customers by educating sales and marketing teams, while developing customized product and service solutions toward specific markets.
Telecommunications and IT vendors continue to focus on their core products and services but are becoming more interested in understanding growth verticals and in expanding solutions and improving relationships. Key industries such as financial and healthcare are directly contributing to strong telephony growth for IP data and wireless solutions. After years of stagnation, spending for new hardware, software, and even IT consulting is poised to rebound; the providers that can tailor these solutions to specific industries, with the customers' needs in mind, are likely to be the winners.
Focus on vertical markets is contributing to trends such as growth in enterprise sales, targeted marketing initiatives, development of customized solutions, start of new partnerships and alliances to expand solutions, and educating staff to enhance their knowledge of core industries. IT/ telecom companies that aid their customers through these efforts are likely to be rewarded with higher/greater revenue and higher customer satisfaction.
Frost & Sullivan's 2004 Business Vertical Markets Subscription is a continuing service from 2002. Updates on the banking and financial, retail, and manufacturing verticals will be provided to subscribers through interactive briefings. New verticals covered in 2004 are set to include insurance, energy, and transportation. Recently added services to the 2004 subscription include a vertical briefing of your choice, along with the Decision Support Database (DSD) that will provide side-by-side vertical market forecasts in a spreadsheet format.
Frost & Sullivan remains the leader in providing both qualitative and quantitative research services within the vertical market space. The importance of vertical markets and developing strategies around key industries makes this subscription a valuable tool to help you remain a competitive participant in the telecom and IT markets.