Over three decades ago, tasked with crafting a benchmarking report for a specific company and its competitors, we swiftly recognized the limitations of SIC classifications. This realization birthed the imperative for more focused and representative industry competitor listings. The culmination of this endeavor is the inclusion of 1000+ meticulously researched listings in the USP Data app, transforming the landscape of B2B market segmentation with unparalleled accuracy.

Evolution of Business Market Segmentation:

Business Market Segmentation entails breaking down a vast target market into more manageable segments, traditionally facilitated by SIC codes based on sectors. However, inherent challenges like timing (static allocation at company inception) and accuracy (extensive use of ‘Other’ in SIC descriptions) render SIC codes insufficient in many cases. Anyone who has navigated a listing based on SIC codes understands their limited utility.

1000+ Researched Industry Sector Listings:

For benchmarking, where meaningful comparisons are pivotal, we discovered that there is no substitute for meticulously researched listings. Initiated often with association listings, this ongoing process incorporates valuable feedback from report customers, ensuring relevance across all 1000+ sectors. Business market segmentation is dynamic, influenced by new ventures and closures, necessitating continuous research efforts.

Inclusive Search Methodology:

While the USP Data app encompasses standard SIC classifications of all UK companies, our unique value proposition lies in our extensive research overlay. This significantly enhances the efficacy of sector firmographic selections, reducing the likelihood of overlooking key firms. The implications for refining niche listings are profound; the data for sought-after companies is present, and speed becomes the essence in identification and access. Starting with a few known companies of interest, users can identify their sectors and leverage business market segmentation to swiftly 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 delivers precise industry sector listings but also unveils valuable averages and trends. This proves instrumental in identifying opportunities within the vast landscape of SME companies, many of which file incomplete accounts. This is a distinct advantage of the USP Data app, particularly in deal origination within the SME space where nearly 80% of firms (below £10M turnover) submit incomplete accounts. Evaluating comparative offerings must consider this unique strength, recognizing the indispensable role of accurate business market segmentation in unlocking opportunities within the SME domain.