Many government contractors may only think of NAICS (North American Industry Classification System) Codes as a simple identifier for their specific industry, but they can also be powerful tools for determining business size and finding relevant contract opportunities. Especially now that we are in the midst of the Q4 spending spree, you can use NAICS Codes to your advantage. Read on to learn more about ways you can identify your best contracting opportunities with NAICS Codes.
How to Get Started Identifying Opportunities with NAICS Codes
To begin a search with NAICS Codes, you must first determine which codes are important and relevant to your organization’s offerings. If you already know your primary NAICS Code, you should start with that. But if you are new to the process, we suggest you use the the Census Bureau’s website here and narrow it down to 5 codes. As a reminder, if you hold a GSA Multiple Award Schedule (MAS) contract or any other federal contract, you should already have NAICS Codes identified.
Using SAM.gov to Find Opportunities
Narrow Your SAM.gov Search
Once you enter them, relevant opportunities will pop-up related to your products and/or services. However, it still might be an overwhelming amount to comb through. You can use other filters such as "Notice Type," "Dates" if you are looking for a specific time period, or refine your keywords to narrow it down more.
For example, you might want to look for only Requests for Information (RFIs) or related opportunities to get your foot in the door. In this case, you would select "Pre-solicitation" and "Sources Sought". Additionally, if your team is looking for current opportunities, you can narrow the time frame down to the next month, week, or even a custom timeframe.
You can also use other filters as seen below like set aside if you only want Women-Owned Small Business or 8(a) opportunities, or a specific agency/place of performance.
Search Quality Matters
When searching for opportunities, you need to use as much criteria as possible to filter your search if you want to avoid sorting through results that aren't a good fit for your organization. NAICS Codes are a key piece of this strategy, and will greatly improve the quality of search results.
However, make sure you are focusing on keywords that really represent your business. If you don’t find good opportunities with your chosen keywords, you might need to expand your search or refine what you really are looking for. For example, "Computer System Design Services" is broad. Maybe your company specializes in Local Area Network (LAN) integration, computer software consulting, or Audio-visual and IT systems integration. Use those keywords instead.
Using NAICS Codes to Research Your Competitors
You can also use sites like NAICS.com/search to gain more information about your competitors. On the NAICS search you can find information on the top businesses by annual sales for each NAICS Code (seen below).
On SAM.gov, you can use the "Contract Awards" function to research top competitors, recent awards etc. for your specific NAICS Codes, but you must have a SAM account to complete the research for this function. This search replaced the legacy FPDS.gov.
NAICS Codes and Business Size
NAICS Codes also determine your company's business size. You can use the Small Business Administration's (SBA) Size Standards Tool to plug-in your primary NAICS Code and use either the number of employees or receipts (depending on the NAICS) to see what your business size is. If you don't already have your primary NAICS, you can use this tool as a preliminary search for business size opportunities.
For example, if your company is just over the size limit on one NAICS, but is considered small on another relevant NAICS, then you can use the NAICS that will optimize your business opportunities. Of course, you must still use a NAICS that corresponds with your primary industry.
If you are considered a small business, then you will have access to additional small business set-aside contracts, support, or other socio-economic programs.
Need Help with Your GSA Schedule?
Once you get your GSA Schedule you have access to a whole new marketplace, but it might be overwhelming to keep up with the regulations, maintenance, and finding opportunities. If you need help figuring out where to start, or need help with managing your GSA Schedule, one of our consultants would be happy to help you.
If you are unsure which NAICS Codes to go after, we can also help you to determine which NAICS Codes are the best for you and your business.
