How To Quickly Identify & Target Industries That Are Crushing It In 2023!

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Recently, the first thing that most business bankers have been telling me is how slow the market is and then proceed to tell me all the reasons why the market is slow! The truth is that “we believe what we think about most often.” If you believe that there are no deals to be done, you will stop looking! If you internalize all the doom and gloom news and opinions out there, you will succumb to mental incapacitation and throw in the towel!

What would Business Banking Superstars do in this type of economic environment? They would roll up their sleeves and pounce on businesses that thrived during covid and continue to thrive in 2023! There are plenty of deals getting done in 2023. The business bankers who are actively looking for them are the bankers who will thrive!

I recently came across an article that talked about the volume of SBA franchise deals that have been approved this year! I then did a simple Google search for the top 5 industries thriving in 2023 and “Travel and Food Industries” was ranked #3…which jives with the point the article was making! What should you do at this point? Continue the Google search and find the top 10 industries. Go grab the NAICS industry codes (https://www.census.gov/naics/) and start reverse engineering a list of the businesses within the industry codes. You can also cross validate the industry performance using a service like VerticalIQ.

If you have access to Dunn & Bradstreet, you should be able to pull a list of businesses within these industries that are located your specific market. Or use whatever tool your bank provides to build a list by industry type. There also other tools like Prospect Now (https://www.prospectnow.com/)  that enable you to build targeted lead lists. Now, you need to put together a sales drip strategy (phone, email, social, and site visit) to get in front of the business owners! Most business bankers don’t spend nearly enough time putting together a highly effective hook sales pitch! A hook sales pitch will quickly grab the prospect’s attention and convince him or her that the banker has the solutions the prospect needs! If you can put together a highly effective sales pitch, you are likely a Digital Marketing Black Belt! Business Bankers who’ve learned how to be Digital Marketing Black Belts are the bankers that consistently get their foot in the door!

If you want to become a Digital Marketing Black Belt, keep your pipeline filled and exceed your production goals, you should enroll in the Business Lending Master Course. The course teaches you everything need to know to become and remain a Business Banking Superstar!

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