Vertical IQ’s Enhanced Localized Industry Data Drills Down to Local Market Level
Raleigh, N.C.
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March 13, 2024 09:00 AM Eastern Daylight Time
Vertical IQ, a leading provider of Industry Intelligence, has rolled out their latest product enhancement: Localized Industry Data. Developed in response to customer feedback, Localized Industry Data gives Vertical IQ users access to even more in-depth local market data — down to the metropolitan statistical area (MSA) and county level — precise insights that previously were difficult to find in one place.
Trusted advisors such as bankers, accountants, insurance producers, and others that advise small businesses can save research time by using Localized Industry Data to learn about the number of establishments, spending patterns, incomes, population growth, and wages of an industry in a specific geographical area — with the ability to see the 10-year trends in each of these areas — as well as to gain increased insights and understanding of what the data means.
Updated quarterly, Localized Industry Data is valuable to incorporate into prospecting and relationship management efforts, allowing users to better advise clients/prospects on an industry’s potential expansion or contraction. In addition, these insights can help financial institutions assess lending and investing risks with greater precision.
“At Vertical IQ, we have long-known that professional services providers who advise small businesses need to be experts in their local economy, but it should go one step further,” says Bobby Martin, CEO and co-founder at Vertical IQ. “Whether they are working with an HVAC contractor, engineering firm, physician practice, or veterinary clinic, they should also be experts in the unique local economic drivers that impact their customers’ industries and businesses.”
The addition of Localized Industry Data to the Vertical IQ product fills a previously unmet need while also saving users’ valuable time. “We heard from our users that local economic data was researched sporadically — or not all — because there was no central place to get the information,” notes Ingo Winzer, chief economist at Vertical IQ. “Google searches are too time-consuming with search results that are potentially inaccurate/out of date, and other industry data providers only go to the state level. To truly move the needle for our customers, we wanted to go a level deeper, to the MSA/county level, which is what users really want.”
Vertical IQ customers are already reaping the benefits of this new Localized Industry Data. Ken Bostwick, senior vice president and director of retail sales at Lakeland Bank explains: “If you want to understand what drives the success of a local company, you need to know what is going on in their industry at their city or county level. Vertical IQ’s Localized Industry Data arms me and my team with the local economic insights we need in order to strategize on industries or geographic areas to target. It also allows us to provide business owners with more tailored advice so they can in turn make data-informed business decisions.”
ABOUT VERTICAL IQ
Headquartered in Raleigh, N.C., Vertical IQ is a nationally recognized leader in Industry Intelligence. Whether they’re pitching a local brewery or a national biotech company, successful sales, marketing and customer success teams use Vertical IQ to better understand a prospect’s or client’s business challenges before, during and after meetings. Covering more than 560 distinct industries, 3,400 local economies and more than 97 percent of the U.S. economy and Canada, Vertical IQ equips users with the confidence and credibility to make memorable first impressions and sustain enduring relationships.
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Jessica Teal
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