Two Categories of Competitors

When you have a vertical market focus, you have two categories of competitors:

• Generalists

• Vertical Specialists

Generalists are businesses that serve customers of all shapes and sizes. 

For example: Facebook Ad Agencies, CPAs, Financial Services firms, etc., all serving a broad audience.

Vertical Specialists are businesses that have a concentrated focus on a vertical market. 

For example: digital marketing for HVAC, PR for non-profits, web design for multi-location medical practices, etc.

Your customers are being targeted by both types of competitors--Generalists & Vertical Specialists.

Knowing how to effectively position your company against them is essential.

Hint: you position against each category in different ways (more on this soon).

Questions to ponder:

👉 Do we know who our Generalist competitors are?

👉 Do we know who our Vertical Specialist competitors are?