How to Identify New Small Businesses Before Your Competitors

Learn how to use signals of business establishment to find and reach new SMBs in specific locations before your competitors.

Selling to SMBs (small and medium-sized businesses) requires speed and efficiency. You must close deals quickly to reduce customer acquisition costs and increase profitability.

Most sales go to whichever company engages a prospect first, in fact, we found that a prospect is 40% more likely to close with the first company that approached him. So timing is important, competitors have likely already reached fresh openings by the time overcrowded public databases update.

Missing those critical early windows means losing potential customers. Yet, trying to monitor all local registrations yourself manually is overwhelmingly difficult. Your sales teams need a better way to target and engage prospects.

In this article, you will learn how to use Tarci’s data to identify and profile new local businesses without wasting time and resources on public data or cold leads.

 

The Difficulty of Identifying New SMBs

SMBs are the backbone of the economy, drivers of innovation, and the backbone of growth. But finding them quickly is not always guaranteed. Here’s why it’s so complicated:

1.    No Central SMB Database

There is no single database tracking all SMB openings across different states and industries. Instead, that data lives in fragmentary forms across various registrations, licenses, permits, leases, etc. Without a central database, you have to search across various state/local agencies and documents. That takes up a ton of time.

2.    Minimal Initial Advertising

Brand-new SMBs rarely advertise or market themselves at first. Their priority is just getting open for business. With limited budgets and staff, it will be difficult for your sales rep to discover the new business as it opens.

3.    Staff & Budget Constraints

Large companies have teams of 10-20 employees solely analyzing markets for new SMBs. You likely don’t have the resources and knowledge to extensively monitor various data sources and documents daily to pinpoint openings.

When you learn about promising new SMBs, your competition is probably already connected with them as well.

But new data technology by Tarci can help you get the competitive edge.

How Tarci Pinpoints New SMBs

At Tarci, our software platform tracks over 33 million existing SMBs across the U.S. and constantly identifies new business openings. Here’s how our proprietary technology accomplishes this:

1.    Continuous Monitoring Across Networks

Tarci connects to multiple databases aggregating official business registrations, leases, and permit requests. Using real-time automated monitoring, Tarci’s system spots new entries any time an SMB files paperwork for a new location. Even home-based businesses are monitored.

2.    Analyzing Multiple Signals

Mere registrations aren’t enough. The Tarci engine goes further, analyzing additional signals to confirm SMB openings conclusively:

  • Executed location property leases
  • Requests made for new utility services
  • Permit applications filed to pass inspections
  • Early hiring of staff
  • Purchasing of inventory or equipment
  • And much more

3.    Pinpoint Locations

The Tarci advantage means not only detecting openings but also their precise locales, industries, and other important metrics. Our technology pairs signal analysis with geographic coordinates to pinpoint precisely where “Main Street Cupcakes” is setting up its first shop.

4.    Up-To-Date SMB Intelligence

Finally, the Tarci platform categorizes new SMBs by pertinent traits, including business size, industry vertical, ownership model, and more. Instead of just generic openings, you get real-time alerts on new SMBs perfectly matching your ICP.

The power of technology makes SMB identification possible. Keep reading to learn how Tarci puts new SMBs within your reach.

 

Making the First Move with Tarci Data

With Tarci, you pinpoint fresh new SMB prospects before competitors. Now, let’s explore how to make the most of this advantage across crucial industries.

Financial Services

Banks, credit unions, and alternative lenders aim to finance entrepreneurs right when founding new ventures. With Tarci, swiftly introduce loan and funding options:

  • Connect food truck owners to equipment financing to buy vehicles
  • Inform tech startups of working capital loans to cover software needs
  • Guide retail boutiques to business credit cards for inventory or overhead

Insurance Providers

Every business requires coverage. Use Tarci to quote must-have policies proactively:

  • Empower law firms to compare professional liability plans
  • Ensure manufacturers have essential commercial property insurance ready on factory opening day
  • Verify construction companies are compliant with state workers’ compensation rules

Business Services

New SMBs desperately need providers to handle critical functions:

  • Assist communication companies in pitching co-working spaces and studios to manage Wi-Fi, printing, room bookings, and other services
  • Enable HR/payroll providers to pitch nanny agencies and home contractors on outsourced support
  • Accounting companies can offer their software to assist with growing SMB’s accounting needs

The opportunities to align with new SMBs in your sector are endless. Tarci data turns possibility into profitable customer partnerships.

Start Identifying New SMBs In Your Industry Today

 

Small businesses account for 99.9% of all US businesses. Therefore, the 33.2 million small businesses operating in the US represent an abundant source of revenue potential. However, identifying and connecting with these customers early on has posed an ongoing challenge – until now.

The Tarci platform solves this problem through unrivaled capabilities:

  • Real-time monitoring detects new SMBs before everyone else
  • Tracking millions of registrations, leases, permits, and other signals combined with advanced algorithms pinpoints the launch of new SMBs
  • The granular analysis then filters and qualifies these openings to reveal niche, targeted new businesses, in the location you need, that perfectly match your customer profile (ICP)

Data and alternative signals are the bedrock of modern marketing and sales. However, seizing the advantage comes down to timing. Request a demo to unlock exclusive access to the newest SMB openings in your backyard startin.

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