Growing your business doesn’t have to be risky
It goes without saying that finding new clients and continued growth is a priority for any business. The tricky part is working out which companies your business should target. Companies House has more than 5 million registered businesses. Establishing a list of trustworthy and suitable potential clients can be a minefield.
The past few years have seen businesses deal with consecutive market shocks, from geopolitical disturbances, the COVID-19 pandemic, economic disruption, and soaring inflation. Many companies have found themselves in impossible situations. This has caused increases in unscrupulous behaviour, insolvencies, and businesses taking on bad debt. A recent study found that more than half of SMEs have bad debt of up to £10,000. Over a quarter say that they don’t have sufficient cash flow for business growth.
When prospecting for new business, how can you narrow down the vast number of unstable companies and mitigate risk? That’s where our Data Search function comes in. In this article, we’ll explain how you can use Data Search to find new clients and grow your business without leaving your company vulnerable.
Introducing the Company Watch Data Search function
Our market-leading Data Search function is a powerful search tool. It enables our clients to interrogate the entire Companies House database using granular queries and filters. This narrows down millions of companies by flagging any potential issues and identifying opportunities. The user is left with a list of potential new clients who have been vetted based on a range of specific criteria. Data Search is capable of segmenting this data using a wide range of information, in a number of ways:
- Data Search allows you to filter any general company information, including things like company type, incorporation date and company size.
- Data Search also filters companies by using our financial health scores, like a company’s H-Score®. It also analyses information like profit and loss statements, turnover, and net worth.
- You can also filter using adverse event queries to determine if a company has any negative history, including things like CCJs or administration notices. You can then filter these over specific time periods.
Data Search is one of most technical, easy to configure tools on the market. Other tools don't allow you to filter and segment the data using specific criteria set by you. Data Search works with a configuration that you set, allowing you to make an informed decision on which businesses are safe to work with.
Data Search also uses live data, so as you introduce new filters it updates in real-time. The more you filter and segment using different criteria, the more manageable the process becomes. Companies with unethical practices may go under the radar with tools less technical than Data Search.
Grow your business with precision targeting
Data Search is the ultimate tool to help you cut through the noise and create a list of potential clients that match your criteria. There are a number of different ways to take advantage of Data Search’s high levels of configurability to create a targeted list of businesses for prospecting. Here are some examples:
- Filter through business charges, combined with filtering by a specific region or postcode to target companies that might have a current charge with a competitor.
- Filter by a specific turnover band to find suitable potential customers for business development teams to target.
- Use the scheduling tool to set up searches with saved filters. Data Search will update automatically and notify you of any significant change e.g. a new mortgage is created or there is a change in director.
High street banks use our Data Search function to empower their business development teams to create lists of highly targeted sales prospects. The high degree of configurability makes it an invaluable tool for aiding business growth. Data can be manipulated depending on your needs, without the restrictive aspects of other tools on the market.
Get in touch to see the power of Data Search first hand and discover how it can turbocharge your business development.
