Purchasing Resources for Standard Industrial Classification ( SIC )

Standard Industrial Classification ( SIC )

How to use SIC codes to your company's advantage
By Patricia Flinsch-Rodriguez, Freelance writer Self-Employed The Standard Industrial Classification was created by the United States government as a means of classifying industries by the use of a 4-digit coding system to collect economic data on businesses. A SIC code directory can be a useful tool for enhancing your business if you know how to use it. Conducting company research by targeting the results to standard industrial classification code is the most efficient use of your resources.

Most establishments conduct business across several SIC codes, and so the entity may have multiple SIC code listings. Company SIC codes are self reported which means that they are obtained from information the business establishment provided on census or survey reports. Listed below are just some of the ways that you can use company SIC codes.

1. Decide on a list of industries to market to by SIC information

2. Create mailing lists by standard industrial classification number

3. Recruit employees by industrial classification

Target the right SIC codes in your search

SIC code lookup can be somewhat confusing because the classifications are extremely broad. They were purposefully created broadly to encompass many classifications, but you will have to find SIC codes that are precisely what you need. If you are looking to sell to hospitals then you might select code 8062 for General Medical & Surgical Hospitals rather than code 6324 which is for Hospital & Medical Service Plans.
Try:  Browse these free electronic SIC manuals by OSHA, EHSO and Websters Online to target the best SIC code match for your search.

Find SIC codes to create mailing lists

Once you have determined which company SIC codes are best suited for your products and services, purchase mailing lists. The mailing lists allow you to focus your advertising dollars on the best possible prospects for your products.
Try:  There are a lot of service providers for mailing lists. Marigold Technologies, Salesgenie, ListsAreUs and Hoovers are online mailing list providers that are easy to use.

Recruit employees by industrial classification

After you have narrowed your search to the industrial classification of your choice, you can find potential new employees. Purchase mailing lists comprised of specific job titles and/or functions within your targeted SIC code. This will enable you to recruit people who already work in your industry.
Try:  SIC codes, while still widely used have been replaced by the 6-digit North American Industry Classification System (NAICS). Many sites offer SIC to NAICS conversions. Try the U.S. Census Bureau or NAICS Association for SIC to NAICS conversion tables. You can search Corporate Affiliations by SIC, NAICS and by personnel title and job function to target your recruitment activity.

• Before purchasing any industrial classification mailing list, find out how often the information is updated. Out of date data will be useless.

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