Inven is a powerful tool for discovering niche companies across any industry. With our extensive database of over 23 million companies, it's likely we have what you're looking for. Our platform offers a wide variety of filters that help you focus on companies with specific qualities such as operating location, headcount growth, ownership type, and much more.
However, when searching for companies in a very niche industry, your search strategy is key. By effectively utilizing AI and Natural Language Processing (NLP), you can uncover opportunities that others might miss. Here are 10 tips that help you find exactly the companies you're looking for using Inven.
1. Define Your Ideal Company Profile
This crucial step is often overlooked, yet it is essential for maximizing the effectiveness of any market research platform. Whether you're searching for acquisition targets, competitors, or potential buyers, invest time in creating a detailed description of your ideal company profile. The clearer you understand the companies you are looking for, the better you will be able to analyze search results and seize every opportunity.
2. Start with a Broad Search
Contrary to what one might think, when looking for niche companies, it's best to start with a broad search and gradually narrow it down. This helps you avoid missing potential targets. Instead of trying to succeed with a single search, perform multiple searches to capture the entire market. Begin with broader descriptions and essential keywords, and use filters carefully. Review the search results step by step to make it more precise.
3. Use Effective Prompting Techniques
When interacting with AI, the text you write matters. Clear and specific prompts typically yield better results. If your ideal company profile is somewhat ambiguous, it's best to start with broader prompts. Ensure that all information in your search query equally describes the companies you're seeking; combining unrelated queries can lower the quality of your results. For instance, searching for diverse terms like "sausages," "stirrups," and "accountants" together may yield few relevant results, as companies rarely cover all these areas. Conducting separate searches for each term is more effective, easier to combine, and produces higher quality results.
4. Leverage Keywords to Target Specific Industries
Keywords are a powerful tool on Inven, particularly beneficial when searching for niche companies within a specific industry. They enable you to include relevant sectors and exclude irrelevant ones from your search. For instance, if you're exploring solar panel installation companies while excluding manufacturing, use ‘installation' as a keyword and exclude ‘manufacturing’ to refine your results effectively.
5. Utilize Example Companies
Using example companies is an excellent strategy for discovering others operating in a niche industry. Thorough preliminary research to identify ideal company profiles can significantly enhance the quality of your search results. By providing one or two examples, you can help AI identify similar companies effortlessly.
6. Fine-Tune Your Search with Filters
Inven offers various filters such as funding details, intention to sell, and operating location to narrow down your search. However, if your ideal company profile is broad, using too many filters at once could unintentionally exclude relevant results. Therefore, it's wise to begin with essential filters and fine-tune your search gradually to ensure you capture all potential matches. Experiment with different variations to find the one that suits you best!
7. Exclude Companies Already in Your Lists
To explore fresh opportunities and expand your search horizon, exclude companies already listed in your existing databases using the company list feature. This method helps uncover entirely new prospects with ease. Whether you're excluding one specific or multiple lists, including your CRM data is entirely up to you!
8. Combine Multiple Search Results
Instead of aiming for perfection with a single search, conduct multiple targeted searches using different terms. Afterwards, you can save the results into a comprehensive list. For example, if you're looking for renewable energy companies specializing in either solar power or wind power, try searching separately for 'solar power' and 'wind power' instead of combining both into a single search. This powerful method helps you capture the entire potential market.
9. Search within Your Company Lists
Once you've compiled a list of potential targets, you don't have to go through it alone—let Inven handle it for you! You can search within your lists based on criteria such as headquarters location, revenue estimate, funding, and more. Simply choose the relevant lists and let Inven take care of the rest.
10. Use AI Screening to Enhance Your Company List
To further refine your existing company list, consider using AI screening. The AI screener carefully reviews every company on your list, identifying potential matches that you might have overlooked. With AI screening, you can provide detailed description to optimize your list and tailor it to better suit your needs.
In conclusion, effectively using Inven or any research tool requires a clear understanding of your target profile and a strategic approach to refining your searches. Begin broadly, utilize keywords and filters wisely, and harness AI's capabilities to achieve optimal results.
