Selling niche software vs general software?

Thinking about my next steps in my career - hoping to jump from SMB to MM.


I currently sell a one-size fits all tool - good product and does what it needs to do, but I lose out on specific use cases or specific industries.


Curious to what the community's thoughts are regarding this issue.

Would you rather sell

Attached poll
*Voting in this poll no longer yields commission.
☁️ Software Tech
🤷‍♂ Poll
10
Sunbunny31
Politicker
1
Sr Sales Executive 🐰
I personally like selling into many industries because it keeps me on my toes, so I appreciate software that is essential for many industries.   However, there's a good deal of value in deep knowledge of a vertical - so even if you have software that can work for many industries, you could still be working in a vertical where you can speak to how your software solves their unique challenges.  That becomes something to consider as well, IMO.
countingmyinterest
Politicker
1
Account Executive
It's interesting, more of mile wide or mile deep question. 

I'm looking at a niche where I have more credibility and knowledge to and where ROI is more easily calculated. 

My product right now has been commoditized and it seems like we just discount our way to deals 
Sunbunny31
Politicker
1
Sr Sales Executive 🐰
That can suck the fun out of sales for sure.   

Niche may be the way to go - sounds like you already have a good insight into what will work.  The ability to express ROI is a solid factor.
DungeonsNDemos
Big Shot
1
Rolling 20's all day
I find it interesting that at this point it's almost a 50/50 split with 40 votes in.
My current product applies in many industries, but I do sometimes miss the simplicity of focusing just on one niche.
jefe
Arsonist
1
🍁
Niche is great, but there can be challenges with prospecting. 

My company's product only integrates with one type ERP software, so if they don't use that then there's literally no opportunity to work together.
Blackwargreymon
Politicker
1
MDR
Personally, I think Niche (coming from one) as Niche is harder which equates to a better commission. However, it's hit and miss on when you actually get the chance to sell it. Whereas a broad software will have loads of employees usually which don't get much of the cut! But that's just from my very limited knowledge! 
Maximas
Tycoon
1
Senior Sales Executive
I would say Niche software in a niche industry.
cw95
Politicker
0
Sales Development Lead
Personally, I think Niche (coming from one) as Niche is harder which equates to a better commission. However, it's hit and miss on when you actually get the chance to sell it. Whereas a broad software will have loads of employees usually which don't get much of the cut! But that's just from my very limited knowledge! 
Diablo
Politicker
0
Sr. AE
Multi industry product is what I prefer for many reasons - larget target group + lots of product development opportunity (new verticals)

Clashingsoulsspell
Politicker
0
ISR
I'm sure the responses will be mixed, but if it's true PTO then I would answer no. Plus with email on your phone, laptop is overkill even if you wanted to work a little.
MR.StretchISR
Politicker
0
ISR
I'm sure the responses will be mixed, but if it's true PTO then I would answer no. Plus with email on your phone, laptop is overkill even if you wanted to work a little.
15
Members only

How does having a niche knowledge about the industry helps you in selling the product?

Question
38
7

Software Vs Services Sales: Which is better?

Question
7
6

Selling at conventions

Advice
15