SIC codes are dinosaurs, they have not been updated since 1987. NAICS codes were updated in 2012, but they are still outdated.
No surprise when you think that these codes are kept updated by the government. Important new technologies are not represented by the SIC and NAICS codes.
What this means is that we must leave the SIC and NAICS codes behind if we are looking to have a clean, updated and current CRM system. What is the solution?
First, ask yourself, where is the best description of what a company does? Simple, the company’s own self-description is the best qualified. So imagine if you could have, live inside your CRM, all the keywords that accurately describe what each of your clients and prospects actually do today.
This technology already exists and it is called Market Mapper from Broadlook.
Market Mapper builds lists of companies, based on how a company self-describes itself. In addition, Market Mapper can be used to segment an existing list of companies.
Here is a live IceBreaker Video that talks about Market Mapper