Have you niched down to your target verticals and recorded it in ALL of your company records in your CRM?
No? Well, this message isn’t for you, because you still want to be all things to all people
For those that recognized that their revenue efforts are far more effective with narrow targeting, listen up!
Companies that manufacture different products for different industries have unique challenges.
Targeting the industries that best match your value proposition and in which you have the most experience will lead to increased growth.
But, how do you identify those records in your CRM?
How to identify NAICS codes for your CRM
Say, for example, you target “manufacturing.”
Here’s a brief introduction to NAICS codes (North American Industry Classification System).
Born from the glaring gaps in the old SIC (Standard Industry Classification) code system, NAICS niche down the industry for a company, just like you should.
The NAICS system, which is updated every 5 years, utilizes a 6 character system that comprises 5 levels of accuracy in your industry choice.
Continuing with our example, manufacturing codes begin with 31, 32, or 33.
Using the old SIC system, we would be offered Aviation and Manufacturing as 2 different industries.
But, what if I’m interested in a more specific niche, like Space Vehicle Parts and Equipment? Here’s a list of the more specific NAICS codes, starting with the base for this niche:
3364 Aerospace Product and Parts Manufacturing
From there, we can break it down even further into specific industries.
336411 Aircraft Manufacturing
336412 Aircraft Engine and Engine Parts Manufacturing
336413 Other Aircraft Parts and Auxiliary Equipment Manufacturing
336414 Guided Missile and Space Vehicle Manufacturing
336414 Guided Missile and Space Vehicle Propulsion Unit and Propulsion Unit Parts Manufacturing
336415 Aviation and Aerospace Component Manufacturing
336419 Other Guided Missile and Space Vehicle Parts and Auxiliary Equipment Manufacturing
You can see in this example that there are numerous options under code 3364. However, few of them are in the aviation industry. Believe me, Space vehicle parts manufacturing is vastly different!
So, using NAICS codes allows your team to segment their targeting very tightly and waste less time targeting companies that are not within your target markets.
Configuring NAICS codes into your CRM
Now, it’s important to get your Sales team to ensure that the NAICS code is entered for every account in your CRM.
This process starts with configuring your CRM for NAICS codes. Then, you can send the right content and make the right calls to the right people with less chance that they will ignore you and treat you as spam.
Getting your team to cooperate is change management and due diligence on the part of an effective team and organization.
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