Precision Unleashed: Transformative Insights In B2b Market Segmentation

By Author: Niel Dalrymple
Total Articles: 5
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More than three decades ago, when we were tasked with creating a benchmarking report for a specific company and its competitors, we quickly realized the limitations of SIC classifications. This led us to see the need for more precise and representative listings of industry competitors. The result of our efforts is the inclusion of over 1000 meticulously researched listings in the USP Data app, revolutionizing B2B market segmentation with unprecedented accuracy.

The Evolution of Business Market Segmentation:
Business Market Segmentation involves dividing a vast target market into more manageable segments, traditionally using SIC codes based on sectors. However, challenges such as timing (static allocation at the company's inception) and accuracy (extensive use of 'Other' in SIC descriptions) make SIC codes insufficient in many cases. Anyone who has tried to navigate a listing based on SIC codes understands their limited usefulness.

1000+ Carefully Researched Industry Sector Listings:
For benchmarking, where meaningful comparisons are crucial, we realized that there is no substitute for meticulously researched ...
... listings. This ongoing process often begins with association listings and incorporates valuable feedback from our report customers, ensuring relevance across all 1000+ sectors. Business market segmentation is dynamic, influenced by new ventures and closures, requiring continuous research efforts.

Comprehensive Search Methodology:
While the USP Data app includes standard SIC classifications of all UK companies, our unique value lies in our extensive research overlay. This significantly enhances the effectiveness of sector firmographic selections, reducing the chances of missing key firms. The implications for refining niche listings are significant; the data for sought-after companies is available, and speed is crucial in identification and access. By starting with a few known companies of interest, users can identify their sectors and utilize business market segmentation to quickly locate competitors using SIC codes or researched reports. Combining these approaches offers an expedited path to the relevant niche group.

Critical Role in SME Space:
Our researched B2B market segmentation not only provides accurate industry sector listings but also reveals valuable averages and trends. This is particularly useful in identifying opportunities within the vast landscape of SME companies, many of which submit incomplete accounts. This is a distinct advantage of the USP Data app, especially in deal origination within the SME space, where nearly 80% of firms (with turnover below £10M) submit incomplete accounts. Evaluating comparative offerings must consider this unique strength, recognizing the essential role of accurate business market segmentation in uncovering opportunities within the SME domain.