Dragos PetriaMarch 16, 2020

Product update: Industry tags

When we set out building Ocean.io, we had one mission: developing a world-class system of classifying companies, bringing the precision targeting of B2C marketing to the B2B world. We knew industry codes weren’t good enough and we wanted to fix that.

The way we fixed it?

First, we used natural language processing to create a mathematical representation of every company in the world as it relates to any other company. Secondly, we looked at individual companies and assigned what our data team calls “industry vectors” to each of them.

That technology is more than a year in the making. Today, we’re making good on our initial promise with a big update to our Growth Intelligence platform.

We’ve released our industry tags, which bring a whole new level of detail in classifying and finding companies. We know, the name doesn’t sound too exciting — but what you can do with these tags is nothing short of amazing.

Let’s take Templafy as an example. They help companies streamline their document creation, eliminating document anarchy in the process.

Their industry code is 620100: Computer Programming.

On LinkedIn, they're classified as Computer Software.

That doesn’t really capture what they do, does it? Let’s then take a look at Ocean’s industry tags for Templafy:

Slightly different picture, isn’t it? 😉

How can I use the industry tags?

There are many ways that you can use industry tags within Ocean.io.

The simplest way is to identify the right companies by performing a new type of search: you can start a search for prospect companies from scratch by using a combination of industry tags and other filters.

We can combine SaaS and Document management with UK and 50+ employees to find all SaaS companies that offer document management in the UK and are sized at over 50 employees:

There are 62 companies that fit the criteria and you can dig into each of them and reach them with your Sales and Marketing.

Industries are also available as filters for other types of searches. For example, you can search for all ecommerce companies in the UK by technology - websites built on ecommerce platforms like Shopify, Magento, etc. - and then apply the “Fitness” filter to identify the ecommerce shops that sell fitness-related products.

Can I use this data in my CRM?

That’s a great question, glad you asked!

What we’ve shown you above are manual searches. While that is very useful when strategizing and analysing your target market, Ocean.io is built with your CRM and automation in mind.

Having this industry tag data in your CRM system enables both us and you to do all sorts of cool stuff.

First, it will greatly improve our CRM Segmentation. This is the part where we take in your entire CRM system, normalize the data, group companies by accurate segments, and highlight the common characteristics of your best segments - or ICPs, if you will. This will, in turn, allow us to find your ideal target audiences.

Needless to say, this new level of granular industry tagging will enable us to improve our segmentation greatly.

Secondly, data enrichment and normalization are coming! We’ve said before that your CRM is a treasure trove of data and this is true. Enriching your CRM with Ocean.io data turns it into a single source of truth for everyone that deals with customer data in your company.

Want to understand what segments your US-based customers are? Done. Want to know which technologies your SaaS customers are using? Easy. Correlation between your customers’ web traffic and your revenue? Sure thing!

All of the above is coming really soon, so stay tuned and remember that you can always get in touch for a demo.

In the mood for sharing?