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I made this prediction earlier this year.

I truly believe that within the next 3-5 years, if not sooner, you will start seeing more SaaS companies begin to expand into new verticals as a means to sustain their growth and hit their revenue goals.

There are a lot of things that have to happen before a company can truly have a vertical strategy, and we can discuss that in a later newsletter. But one critical piece of advice I will give you now is to be ultra vigilant on the industry data in your CRM.

As someone who’s been doing this for over two years, the data you’re receiving from certain providers is far from accurate. These platforms, from what I have seen first-hand have not been built to accurately identify the nuances within non-SaaS industries.

So, depending on the industry that you’re being tasked to target, my recommendation is to start with a small set of target accounts.

The reason being is it’s more manageable to check the accuracy of the industry associated with the target accounts.

1. Pull in the company’s LinkedIn URL in your CRM report. Go through and check their industry label on their company profile and even read through their About section to confirm their industry.

2. Pull in the company’s website URL and further validate the industry that the company is in.

While I know this may seem super manual and time-consuming to do, getting these industries wrong can have a ripple affect across your GTM teams.

Marketing ends up promoting the wrong message and product to the wrong industry. Sales is talking the wrong language when prospecting or customer success is speaking the wrong language when talking to their customers.

All it takes is one wrong experience and you lose an opportunity.

Be cautious, and be very diligent about your industry data.

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