NAICS stands for North American Industry Classification System. It is a six-digit code that the federal government uses to classify businesses by industry. NAICS codes are used for a variety of purposes, including statistical analysis, economic development, and government procurement.
For businesses that want to sell to the federal government, NAICS codes are very important. Federal agencies use NAICS codes to identify and categorize potential contractors. When a federal agency has a contract opportunity, it will publish a solicitation that includes the NAICS code(s) for that opportunity. Only businesses that are registered with the System for Award Management (SAM) and have the appropriate NAICS codes will be able to bid on the solicitation.
In addition to helping businesses identify and bid on federal contracts, NAICS codes can also be used to develop marketing and sales strategies. By understanding the NAICS codes of their target market, businesses can develop targeted marketing campaigns and sales pitches that are more likely to be successful.
Here are some specific examples of how NAICS codes can help your company win business in the federal marketplace:
Identifying target markets: NAICS codes can help you identify the federal agencies that are most likely to be interested in your products or services. This information can help you target your marketing and sales efforts more effectively.
Finding contract opportunities: NAICS codes can help you find federal contract opportunities that are relevant to your business. You can search for contract opportunities by NAICS code on the System for Award Management (SAM) website.
Developing marketing and sales strategies: NAICS codes can help you develop marketing and sales strategies that are tailored to the needs of your target market. For example, if you know that your target market is NAICS code 541512 (Computer Systems Design Services), you can develop marketing materials and sales pitches that highlight your expertise in this area.
Overall, NAICS codes are an important tool for businesses that want to sell to the federal government. By understanding NAICS codes and how to use them, businesses can increase their chances of winning federal contracts and growing their businesses.
Here is a detailed list of the top performing NAICS CODES in the federal marketplace with the latest dollars associated with it, based on data from the U.S. General Services Administration (GSA) for Fiscal Year 2022:
NAICS Code | Description | Dollars Associated |
|---|---|---|
541512 | Computer Systems Design Services | $15,644,814,812 |
541330 | Engineering Services | $10,721,855,853 |
541712 | Research and Development in the Physical, Engineering, and Life Sciences (except Biotechnology) | $9,412,992,973 |
541611 | Administrative Management and General Management Consulting Services | $7,793,119,761 |
541511 | Custom Computer Programming Services | $7,425,953,064 |
Top 10 NAICS codes for IT
Comments