If you’re in sales and are planning to segment customers based on an industry or a particular vertical, SIC/NAICS codes can come in very handy. New to the topic, or wondering how you can make use of them? Allow us to help you out!
What are SIC/NAICS codes?
Standard Industrial Classification (SIC) codes and North American Industry Classification System (NAICS) codes are numerical classification systems created by the US government. These classification systems are used to club similar companies into industries for the purposes of collecting, analyzing, and publishing statistical data.
Below are some SIC codes for industries under the Life Sciences category:
SIC/NAICS Codes: How Do They Help?
- Industry Targeting: The first and most obvious use of NAICS & SIC codes is that they allow you to target your marketing to specific industries.
- Market Segmentation: You may have an idea of who your ideal customer is. With market segmentation by NAICS or SIC code, you can determine which of those industries best represent your ideal customers.
- Identify Potential New Markets: The first two digits of a NAICS or SIC code is an industry title. You can use this number to find similar lines of business to those you already serve!
Using SIC/NAICS Codes On The Slintel Dashboard
Lets see how you can put this to use through Slintel’s dashboard. In this example, we are taking a look at the restaurant industry. Let’s say you are looking for restaurants in the “California” location:
- Go to your Slintel dashboard and login.
- Go to the “Branch Insights” Tab from your dashboard.
- Branch Insights has two views: Overview and Branches.
By default, the “Overview” tab will show you the entirety of companies Slintel has Branch Insights for. You can select filters from the list below to narrow down the segment of your target companies:
- Company & Website: Enter any company or website name you would like to see company and branch information for.
- SIC Codes: Filter companies using their SIC Codes
- SIC Categories: Filter companies using SIC1, SIC4 and SIC8 Categories
- NAICS Codes: Filter companies using their NAICS Code
- NAICS Industries: Filter companies using their NAICS Industry
- Business Type: B2B/B2C
- To find restaurants and bars in the California location, click on the “Branches” tab. This tab gives you the flexibility to additionally search by the “Location” and “Zip Code” filters. Also, this tab shows you all the locations for branches of restaurants/bars that might exist.
Simply type in “Restaurants” under the “SIC categories” filter, and set location to “California”.
Additionally, you can search for the SIC code on this website, and simply type in the code, in this case “5812” is the code for Restaurants under the “SIC Code” filter, set the location to “California” and it will give you the same results.
You can see the total number of results on the top right corner of the page.
SIC/NAICS codes are a great way of prospecting and looking for potential customers. If you haven’t used them yet, we would highly recommend giving it a whirl. These codes also help you find similar companies in the same sphere that might be interested in buying your products. So, go ahead and start! Happy prospecting 🙂