Vertical IQ launched a freemium market research service that provides “foundational information” for over 280 industries. Vertical IQ writes plain English industry overviews for bank managers, consultants, and accountants. However, the research has broad value to other functions such as strategic sales, market planning, and procurement.
Previously, professionally sourced industry research was only accessible by purchasing individual reports or subscription licenses, but the business model is evolving. To fill a market need, Vertical IQ is now offering much of its valuable industry insights for free. This innovative approach delivers market research on a freemium, just-in-time basis – a first in the marketplace.
“Vertical IQ Freemium was created to fill the void for an easily-accessible, user-friendly industry research product. This new free version of our popular research platform puts valuable industry insights at the tips of your fingers in a matter of seconds.”
Vertical IQ co-founder, Bobby Martin
The free content covers the first three sections of the Vertical IQ reports: Overview, Industry Structure & Forecast, and Industry Trends. Full reports are available on a pay per view basis ($99) or via a subscription ($1,099). The Full report spans an additional nine chapters:
How Firms Operate
Risks to Watch Out for
Call Prep Questions
The Full report is downloadable as a PDF file and includes access to report
updates over the next year.
The annual subscription covers 400 industries and 325 local US economies. Updates and industry news alerts are emailed quarterly. The subscription service also supports mobile access, a Sales Kit which “Integrates industry insight into your contact strategy by sharing deliverables with business owners,” and an industry ranking tool.
Vertical IQ competes against D&B First Research and IBISWorld. All three provide plain English market research for financial services firms and sales professionals. Vertical IQ has over 35,000 users. Research is updated monthly.
ReferenceUSA, the library and government sales division of Infogroup, is partnering with Plunkett Research to sell their industry almanacs. Plunkett offers three dozen almanacs including fast-growing sectors such as Green Technology; Artificial Intelligence and Machine Learning; Internet of Things and Machine-to-Machine; and Nanotechnology. Plunkett reports are written for the “general reader to readily access and understand the most vital trends, technologies and companies creating change within given industries—even if the reader has no current expertise in that industry.”
Jack Plunkett, CEO of Plunkett Research, said, “We’re excited to team up with the terrific people at ReferenceUSA. Their deep relationships with librarians and understanding of libraries’ unique needs make them the ideal group to spread the word about the Plunkett Research Online industry reference platform. At the same time, ReferenceUSA and Plunkett Research products are perfectly complementary–libraries that subscribe to both will be able to harness the full power of our deep data analyses.”
Plunkett almanacs cover both US companies and industries. They are available as online subscriptions, eBooks, and printed subscriptions. Plunkett helps close a gap in the ReferenceUSA product line. Infogroup provides a deep set of US and Canadian company and consumer files along with new companies, new households, family trees, and prospect list building. The partnership helps ReferenceUSA compete against Mergent Online which provides a company and industry research service in partnership with Dun & Bradstreet.
Subscription users can download custom industry reports as PDFs. Tables, company lists, and association lists may be downloaded to Excel.
View only subscription pricing begins at $1,295 for a single seat with downloading available for $1,995. Printed almanacs and ebooks are priced at $380.
It only took twenty-five years, but Congressional Research Service (CRS) reports are finally available through the Library of Congress. Members of Congress have long released the reports to third-party databases, but now the reports are available directly from the Library of Congress. As the research is paid for by taxpayers and conducted at the behest of Congress, limited access to this research has long been an affront to legislative transparency.
According to their FAQ, the CRS is “a federal legislative branch agency located within the Library of Congress, [which] serves as shared staff exclusively to congressional committees and Members of Congress. CRS experts assist at every stage of the legislative process — from the early considerations that precede bill drafting, through committee hearings and floor debate, to the oversight of enacted laws and various agency activities.”
CRS research is non-partisan and takes a multi-perspective approach to current issues and legislation. Reports are both on demand and anticipatory. “CRS approaches complex topics from a variety of perspectives and examines all sides of an issue. Staff members analyze current policies and present the impact of proposed policy alternatives.”
CRS services include reports on major policy issues; tailored confidential memoranda; briefings and consultations; seminars and workshops; and expert congressional testimony.
“With public policy issues growing more complex, the need for insightful and comprehensive analysis has become vital. Congress relies on CRS to marshal interdisciplinary resources, encourage critical thinking and create innovative frameworks to help legislators form sound policies, reach decisions on a host of difficult issues and address their constituents’ concerns and needs. These decisions will guide and shape the nation today and for generations to come.”
Congressional Research Service FAQ
The CRS database was included in The Consolidated Appropriations Act of 2018. “We worked closely with Congress to make sure that we had a mutual understanding of the law’s requirements and Congress’ expectations in our approach to this project,” said Carla D. Hayden, Librarian of Congress.
As governmental work product, CRS research is not subject to copyright. Thus, CRS research may be broadly disseminated without permission. However, some research may contain copyrighted third-party images or material.
The new website provides the same search functionality as Congress and is keyword searchable. Full-text searching is available along with filtering by topic, date, author, and additional keywords.
One of the key aphorisms in architecture is that form follows function. The quote, attributed to Louis Sullivan, holds that a building’s design should be based upon the underlying purpose of the building, not driven by ornamentation. Twentieth century design took this maxim to heart with similar thinking spreading through industrial and software design.
In the case of information services, a focus on flashy design or “bells and whistles” can be a distraction if the underlying service fails to meet the basic informational and workflow needs of its users. One of the great things about Google is that it returns high precision results from a few words entered into a search box. It was this simplicity that allowed them to grab and hold two-thirds of the search engine market share, leaving Bing and Yahoo! to pick up the scraps.
A well-designed sales intelligence solution supports multiple sales and support workflows. These users span multiple functions and departments (e.g. sales, sales directors, sales operations, sales support, service departments, business development, and marketing). Furthermore, there are multiple types of sales reps within larger organizations so your sales intelligence platform needs to be flexible enough to meet differing information requirements and workflows.
Thus, tactical sales reps need to quickly locate contact information and a few prospect qualification variables. They want to make sure that the contact they are about to call is in their territory and doesn’t work at a subsidiary of a named account.
Conversely, a strategic rep has broad information requirements around companies, company structures, executives, and key events. Strategic reps are focused on who to call, when to call, and what to say. Sales triggers are not only a flashing green light that a prospect is more likely to buy, but conversational material for catching the prospect’s attention and signaling that the rep has prepared for the call. Likewise, SWOT reports, biographies, industry market research reports provide insights into client interests and needs.
Named account reps sell only to a few firms so need a deep understanding of their target accounts. They need to be apprised of key events at an organization that could positively or negatively impact their pipeline. Furthermore, named account reps are looking for additional contacts and locations for extending their corporate footprint. Thus, searching across a company for specific job functions and then reviewing subsidiary profiles and bios is an important task in growing the account. Named account reps also benefit from PDF exportability so they can review the latest information about their client or prospect while traveling. These reports can also be shared with other members of the sales and support team.
Territory reps and financial services relationship managers need to be apprised of sales triggers within their territory, quickly research and qualify companies, and dig deeper on larger opportunities. Furthermore, as they generally sell cross-industry, they also benefit from industry overviews from vendors such as First Research. These primers are written in plain English and provide a set of Q&A sections by topic and job function.
Most reps work within a CRM, so review the capabilities of sales intelligence CRM connectors. The tighter the integration the better. If your CRM is your system of record, you want the sales reps working within the CRM on desktops and mobile devices. Services that bounce the user between a web browser and the CRM are less effective than those that provide most or all of their content and functionality within Salesforce.com, MS Dynamics, or other CRMs. Also, look for “stare and compare” updating of records, batch and real-time synchronization of data, custom fields, and duplicate checking.
Many sales intelligence services also support the marketing department. Standardizing the two functions on a common vendor helps reduce cost and channel conflict. It also provides a basis for successful ABM programs which cross the two departments. Several years ago, sales intelligence vendors only offered prospecting to marketing, but now they also support web forms, real-time and batch enrichment of leads, lead-to-account mapping, marketing automation connectors, lead scoring, segmentation analysis, Ideal Customer Profiling, TAM analysis, and net-new leads and contacts. A few also offer standalone services for the marketing department such as programmatic advertising, visitor id, multi-channel marketing, and SEO.
When evaluating sales intelligence solutions, you should understand the workflows and information requirements of each of your sales groups along with other potential beneficiaries of the service. Don’t evaluate simply on counts and features, but on the information needs and workflows of your various sales and marketing teams.
North American Sales Intelligence Market Sizing Model (Excel)
The 2017 Market Size of North American Sales Intelligence Vendors. Includes vendor product features, market share, and notes. GZ Consulting Copyright 2018.
For the past few years, I have been sizing the North American Sales Intelligence Market. This is the largest of the markets as Europe and AsiaPac are more fragmented (the UK is the only other mature market with Bureau van Dijk, Avention UK, Artesian Solutions, and DueDil offering full solutions).
In 2016, I estimated the market at $770 million with LinkedIn Sales Navigator as the top vendor. While new firms continue to enter, the top ten firms (now eight following the 2017 acquisitions of Avention and RainKing) earn seven of every eight dollars in the industry.
I am making my market model available for license (See PayPal button at top) as an Excel spreadsheet. It includes revenue numbers by company along with market share, key features, and notes.
I have also broken out two sub-categories: Predictive Analytics and Tech Sales Intelligence. Predictive Analytics vendors continue to scuffle in the marketplace. Last September, Gartner sized the global market at between $100 and $150 million. I have gone back and forth on whether to include them in the larger sales intelligence space, but several of the sales intelligence vendors have added light predictive tools (e.g. Avention, DiscoverOrg, RainKing) while the predictive analytics companies have moved to add enrichment and provide more insights to sales reps. As such, I see the two product categories moving towards each other so chose to include Lattice Engines, Leadspace, and similar firms.
The Tech Sales Intelligence category (e.g. DiscoverOrg, RainKing, Aberdeen, Corporate360) continues to show strong growth and makes up just over 15% of the market. Both DiscoverOrg and RainKing have posted remarkable growth over the past few years and merged their efforts last month. Post acquisition, they are the number three vendor in the space and may hit $120 million in 2017 revenue. The new powerhouse has 4,000 customers and is looking to expand beyond technology sales to become a general purpose sales intelligence solution.
Acquiring RainKing should move DiscoverOrg well past Data.com (Salesforce) which will likely see declining 2017 revenue. Salesforce has dropped the ball on Data.com. They overpromised and under-delivered for years, relying on their ability to bundle the offering with other SFDC products. As of last month, they are no longer able to deliver Dun & Bradstreet content (D&B WorldBase, Hoovers, and First Research) to new customers (legacy customers retain access). Unless Data.com has a major content partner announcement at Dreamforce, it is likely to see significant revenue declines in 2017 and 2018 as customers switch to D&B Hoovers for Salesforce and other offerings.
Dun & Bradstreet re-established itself as the #2 vendor in the space with the January 2017 acquisition of Avention and the rebranding of Avention OneSource as D&B Hoovers. Both companies have struggled to grow revenue with Avention growing slowly over the past few years and Hoovers declining. However, infusing Avention products with Dun & Bradstreet content both reduces the underlying cost structure of Avention offerings and improves the depth and quality of the content. Furthermore, Dun & Bradstreet has a much larger sales force which previously has lacked a credible global sales intelligence offering. Hoovers classic generated nearly all of its revenue in the United States. Over the next two years, expect to see significant revenue shift from Hoovers Classic to D&B Hoovers.
Finally, LinkedIn Sales Navigator has established itself as the clear number one vendor in market revenue. The product didn’t exist five years ago and its competitors still tend to dismiss this gorilla in their midst. How can they be missing the #1 vendor in the space? Easy — the gorilla is well camouflaged and appears to be more of a three-toed sloth sleeping in the forest canopy. Sales reps all use the freemium version of LinkedIn so give little thought to delve further when they ask “how are you obtaining your account intelligence today?” and the response is LinkedIn. Thus, they enter LinkedIn as the competitor into their CRM, not Sales Navigator. A few months later when they lose the opportunity, the rep then enters “no decision” into the CRM instead of recognizing a competitive loss. I have been warning vendors in the space for years about this phenomenon, but they have failed to understand the threat of a gorilla that looks like a three-toed sloth.
N.B. Three-toed sloths inhabit Central and South America and gorillas Central Africa. This is a metaphor.
I answered the above question on Quora, but I thought it was worth posting the answer on my blog as well.
B2B is a broad category, so I will be providing a high-level process:
Start with the open web — the company website, corporate blog, Facebook, Instagram, Twitter, LinkedIn, YouTube, Vimeo, and SlideShare.
Jump to the LinkedIn and Twitter pages of key executives.
Continue with third-party review sites such as TrustRadius, G2 Crowd, Glass Door, and Quora. Also compare web (Alexa, SimilarWeb) and social media activity (Owler) of the company vs. its top competitors.
If a US public company, obtain their 10-K, 10-Q, Annual Report, Proxy, and 8-Ks. Also, review all material on their investor page and look for Fair Disclosure Earnings Transcripts (Seeking Alpha, NASDAQ), investor presentations, financial models, etc.
If a US or global public, analyst reports are often available subject to a one week embargo. Vendors with analyst reports include D&B Hoovers, Factiva, Zacks, FactSet, Capital IQ, and Investext. Reports with fewer than five pages tend to only look at the stock, and provide little in the way of detail. Particularly good are the Initiating Coverage reports as they often entail an overview of the business.
If a US or global public, review the synopsis of material events going back over a decade. Significant Developments are available from Reuters, Factiva (Reuters), D&B Hoovers (Reuters), Capital IQ, and FactSet.
If a European private, they are likely to have filed financials, directors, and shareholdings with a local registry. You can obtain these through D&B Hoovers, Bureau van Dijk Orbis, or local registries.
Major companies are profiled by MarketLine and Global Data. Check to see if they or key competitors are profiled. Industry vendors also profile companies and products within their target segments. These profiles include SWOTs, company histories, market shares, and overviews of key products and segments.
Determine the firm’s list of competitors. If it is a public company they will list this in a proxy. If it is a private company, refer to Hoovers, Global Data, or Marketline.
If you are looking for technology employed, refer to Datanyze, HG Data, BuiltWith, DiscoverOrg, or RainKing.
Review all news for the company. The open web thins out quickly, so you are best off using an archival service such as Factiva or LexisNexis
For Intellectual Property and Legal, use LexisNexis or Westlaw. You can also search the USPTO site for trademarks and patents.
Check research from industry vendors. Most focus on only one or a few sectors (e.g. Gartner, Forrester, and IDC for Hardware and Software). A few provide higher level market overviews at the country or global level which include national or regional market shares, forecasts, and mini-profiles of the top 3-4 competitors in the market:
MarketLine (country and global)
Euromonitor (country or global)
BMI (Emerging Markets)
IBISWorld (US, China, Australia, Global)
A few US industries are required to file with state or federal agencies. These include banks (FDIC), insurance (states), and nonprofits (990 forms with the IRS).
Larger companies file ERISA forms (5500s) annually with the Department of Labor. This filing covers benefit plans so is useful for direct research on a company and plan advisors. Judy Diamond offers a freemium service (FreeErisa) for ERISA filings.
If the firm has PE or VC funding, refer to Crunchbase, DataFox, Mattermark, PrivCo, or other vendors that collect this detail. Crunchbase and Owler provide this information for free.
Setup news alerts on the company and competitor you are evaluating. This can be done via Owler, Contify, InsideView, D&B Hoovers, Factiva, and LexisNexis.
Obtain a credit report (D&B, Experian, or local credit company if overseas)
Research the company family tree and review major subsidiaries and recent acquisitions. Global Family Trees are available from D&B Hoovers, Bureau van Dijk, and InsideView (parents and subs only). Public companies also list their subsidiaries in their 10-K (Note 21).
M&A research can be performed with Zephyr (Bureau van Dijk), Mattermark, FactSet, Capital IQ, and other vendors.
This is a quick overview for secondary research. For primary research, reach out to customers, partners, and former employees. They can be identified via Case Studies (generally fans so don’t be overly reliant on them), customer references on site, TrustRadius, G2 Crowd. Former employees can be determined via LinkedIn. Partners are generally listed on the company website.
One area that is particularly difficult to obtain is pricing data. Some B2Bs are transparent while others publish virtually no details, particularly if they have complex product lines and pricing. Don’t be surprised if you find little in this area beyond “Pricing begins in the five digits” for many vendors. Pricing details may require primary research and this will provide data points, but not full price lists.
If you are performing regular competitive analysis work, consider joining SCIP (Strategic & Competitive Intelligence Professionals).
MarketLine, formerly known as DataMonitor, is expanding the content and functionality of its MarketLine Advantage research database. The service is designed for management consultants, investment bankers, trade agencies, lawyers, and academic research. While its company and industry content has long been licensed by the sales intelligence vendors, the additional datasets found in Advantage provide only limited incremental value to sales teams.
MarketLine is expanding profile coverage of both companies and industries, but not expanding the licensed dataset it makes available to sales intelligence vendors such as Factiva, Bureau van Dijk, LexisNexis, and Avention. Industry coverage has roughly doubled to 6,000 country/industry pairs. For company intelligence, they are trebling the number of company profiles to at least 100,000 firms; likewise, the number of company profiles with SWOTs is quadrupling to 12,000.
Company profiles are available in multiple formats and can be selected at the table or chart level. Thus, users can perform a one-click export of a company or industry table to PowerPoint, Word, PDF or Excel files. Unfortunately, company and industry news is maintained separately from company and industry profiles; thus, users cannot create a unified report containing editorial research plus news. This lack of unification adds to the search and export work of researchers.
Marketline is one of the few vendors that provides global and regional industry research across a broad set of industries. Most vendors focus on a subset of countries (e.g. emerging markets, United States) or industries (e.g. Consumer Products). MarketLine publishes industry research at the country, regional, and global level allowing users to compare the same industry in different countries or many industries within a country. This ability to compare across countries and industries – with standard terminology, methodology, industry definition, and economic assumptions – assists with market entry analysis, whether it is researching new sectors or researching new countries. It also helps sector-focused sales reps adjust their messaging and targeting across markets. Furthermore, by including Five Forces Analyses and the top company profiles for each country, it is possible to determine whether new companies should be added to your ABM target list as well as assess potential obstacles when entering a new market.
Because MarketLine research covers so many regional / industry pairs, the reports should not be considered detailed industry research. Industry specialists generally write technically oriented reports on specific industry topics. Instead, the focus is on market size, key segments, current trends, top competitors, and market growth projections. MarketLine focuses on actionable information that can be understood by industry generalists and researchers operating across many industries.
MarketLine also offers a set of country profiles which assist with market entry decisions and help users develop a basic understanding of local dynamics and risks. Country profiles utilize a PESTLE framework.
Each of the major profile categories contains a standard Competitive Intelligence / Strategy tool employed by B schools and analysts:
SWOT – Strength, Weakness, Opportunity, Threat analysis looks at a company versus its competitors and the overall market. Thus, opportunities might include emerging technologies or newly opened markets while threats cover exogenous variables such as government regulation, market substitutes, and competitor actions.
Five Forces – This industry tool was developed by Michael Porter and covers Buyer Power, Supplier Power, New Entrants, Threat of Substitutes, and Degree of Rivalry. Within each of these elements, a set of sub-topics is covered. The Five Forces analysis is discussed at the sub-section level and displayed as a spider web graph.
PESTLE — Political, Economic, Social, Technological, Legal and Environmental analyses for 150 countries.
Other MarketLine Advantage datasets include:
Deal profiles spanning venture capital, private equity, mergers & acquisitions, partnerships, private placements, and joint ventures. Deal profiles are generally available within one business day of the transaction announcement. The deals database is screenable and goes back at least three years.
Country and city demographic datasets gathered from governmental resources (e.g. OECD, Eurostat, CDC) covering 750 macroeconomic and demographic variables. Launched just a few months ago, the cities database covers approximately 2,000 global metropolises and can assist with initial planning intelligence for locating international offices and projecting which regions are poised for rapid growth. Multiple visual formats are supported including bar, line, and pie charts. The datasets are exportable at the field and location level, allowing users to build custom datasets.
Company News written by MarketLine’s analysts. MarketLine reports on 11,000 companies with 60,000 articles per annum. The current archive exceeds 300,000 articles.
Market Data Analytics for major consumer product categories including food, drink, and personal care products.
Company and investment prospecting.
The Home Page is a bit flat with no dynamic content. Users are presented a single Google-style search bar along with database browsing options. This format is in line with a reference service, but the layout indicates a lack of personalization for frequent researchers. This is a missed opportunity. Frequent users should be able to track specific companies, industries, and countries with homepage and email alerts. These alerts could cover both company news and updates to key reports.
MarketLine Advantage customers benefit from access to MarketLine’s team of 178 researchers that conduct both primary and secondary research. Users may pose questions to the researchers subject to a 24 hour SLA. Other benefits of directly licensing the Advantage service is data currency (aggregators generally receive monthly report updates), broader content sets, custom screening tools, and the ability to quickly export report sections in multiple formats.
MarketLine Advantage is sold on a named user basis with annual subscriptions subject to volume pricing. Users have unlimited access to reports, datasets, and downloading. Pricing for MarketLine Advantage was not disclosed. When MarketLine Industry reports are sold on the GlobalData store, they are priced at $350 for single user access to a report, $700 for a site license, and $1,050 for an enterprise license.
Advantage is available via web and mobile browsers but the service lacks CRM connectors and mobile apps.
I’ve long respected the First Research industry overviews assembled by Dun & Bradstreet. While most industry research runs from complex to arcane, First Research reports serve as industry primers providing plain English overviews of an industry. If you were to read the report for your own industry, you would probably find it useful only for new hire training.
And that is the beauty of the reports. They are for novices lacking an understanding of an industry which makes them perfect for territory sales reps or relationship managers. In fact, they were originally designed for relationship managers at banks before First Research realized that sales reps were equally in need of their research. If your job requires you to interact with individuals across many industries, then First Research may be the perfect resource for “getting up to speed” on an industry. They can also be valuable for job hunters looking for a basic set of questions to ask about an industry.
Content includes an Industry Overview containing the following sub-sections:
Products & Operations
Sales & Marketing
Finance & Working Capital
along with these additional sections:
News and Social (FirstRain)
Quarterly Industry Update
Industry Growth Rating (High, medium or low)
Executive Insights and Questions
Call Prep Questions Websites & Acronyms
First Research contains several sections of Q&A content including Call Prep Questions and Executive Insights which are questions specific to C-level executives. Sometimes in life, you need to “fake it until you make it” (i.e. develop expertise) and First Research is designed for this purpose.
Through an OEM deal with FirstRain, high-precision industry news is included in the service along with FirstRain topic tagging and visual tools. FirstRain content includes Latest News, Top Business Tweets, Management Changes, Event Timeline, Industry Health Indicators, Analyst Commentary, and Recent Transactions. FirstRain does not archive this content but provides six months of open web news links.
First Research covers over 500 US and 35 Canadian industries spanning 1,000 NAICS codes. While the reports are US-centric, they have recently begun adding international sections to the reports. As a bonus, the product includes regional reports for US states, the District of Colombia, and Canadian provinces. Country briefs are also available.
Other tools include a set of sales and marketing templates providing examples of how to use First Research content in various scenarios and an industry prospector tool for assisting with market development planning.
First Research reports are available as a standalone offering or integrated into the Hoover’s database, D&B360 CRM connectors, and the D&B Direct API. A subset of the content is also being delivered via Data.com. For library patrons, Dun & Bradstreet has partnered with Mergent to deliver the reports as a standalone offering or integrated into some of their products such as Mergent Intellect.
First Research should be viewed as industry insights for non-experts. You won’t find depth on key trends or issues, but the service is easily accessible and walks the user through industry basics. You generally don’t find industry news or Q&A sections in other industry services.
If you are looking for more advanced cross-industry research, you can step up to
MarketLine (global and regional research)
Euromonitor (global and regional research)
IBISWorld (US, Australian, Chinese, and global research)
BMI (emerging markets)
EMD (emerging markets).
These services provide more complex reports while retaining readability. While you won’t find as much handholding (e.g. Q&A sections), you will find broader industry trend and forecast content along with profiles of the top three or four competitors in the market. As many are globally focused, they may be better sources for international market entry decisions.