Business Services Make The Business World Turn
What Are Business Services?
Business services provide the manpower, logistics, and technologies that support what their customer enterprises make and do. Industries within business services are Consulting, Professional Services, Product/Software/Infrastructure as a Service, Leasing, Consumer Services, and Quality of Life. Many of these operate on pay per use or subscription model. Leading revenue generators in the U.S. are employment services (about 40%); services to buildings and dwellings, including landscaping, pest control, and janitorial services (about 15%); and waste management and environmental remediation services (about 10%).
Nearly every business in operation needs one or more of the various business services offered by the industry. The roles they play include administrative roles, HR, process monitoring, inventory control, on and off-site security, travel services, workplace maintenance, and recycling/disposal. They can also perform many of these same functions in the residential space, especially now, since working from home has taken on added importance. In other words, they are the often unseen force that helps the economy run smoothly. The business services sector is composed of companies of all possible sizes, from sole practitioners to global giants. Some fight well above their weight, so none should be taken lightly.
How Big Is The Business Services Industry?
Globally, the business services sector is well entrenched in the U.S. and Europe. The U.S. alone accounts for 17.3% of the world’s business services companies. Future growth is likely to be substantial in the Asia/Pacific and Africa regions as they continue to develop. This puts global providers with well established knowledge bases and operational platforms in a good position to meet emerging needs. Globally, the professional services industry, has grown rapidly, and is projected to reach more than $8 Trillion by 2022. The IT business services industry is worth more than $1 Trillion.
Reach Business Services Industries With The Right Data
Mailinglists.com offers marketers the business services data which enables them to reliably reach this valuable and disparate audience. Our 25 year partnership with Dun & Bradstreet puts the most accurate, comprehensive business database at our clients’ fingertips. World-class resources, including the D&B Data Cloud contribute to the depth and quality of our business services data. The result is a full range of demographic, firmographic and geographic data for businesses of every size.
Popular tools are available for identifying viable business services prospects. Our SIC & NAICS databases list entire industry sectors. Potential prospects for leasing, equipment, and infrastructure can be identified by analyzing UCC filings. These initial steps tend to require selective fine-tuning to be efficient for marketing purposes. Whatever the target audience, marketers need a solid understanding of who they are, what they do, what they need, and perhaps important, who makes their decisions.
Mailinglists.com provides the data that reaches executives by title, age, and at home. Many business services require professional accreditation or certification. Take advantage of our databases of licensed professionals to reach them. Data append services help marketers complete their records for past and current customers, and prospects. In many cases sole practitioners are simultaneously CEO, COO, CIO, head of procurement, licensed practitioner, and “staff”. When their day is done, they lead lifestyles that make them open to relevant offers consistent with their personal behaviors and interests. Being able to reach executives at home, away from their challenging work lives (or even as they work from home) is valuable.
Those low barriers to entry facilitating startups, combined with the existence of vast, global business services providers employing armies of personnel can contribute to a high churn rate among companies and people. Data decay is therefore an issue that must be recognized planning and deploying marketing campaigns. People change jobs. Companies go out of business, making an up to date suppression file a must-have. It is important to stay on top of this reality when budgeting for a wide ranging campaign. To meet the demand for accuracy and freshness, compiled data sources are continuously monitored through our HyperHygiene® process to ensure high levels of deliverability and response.
From top to bottom, in and among any number of business services sector industries, Key Opinion Leaders and Decision Makers are ripe for receiving information and offers of products and services that can enhance their role in the business services universe.
Examples Of Major Business Services Providers Include:
- Consulting – Accenture, IBM, Gartner
- Shipping & Logistics – UPS, YRC, FedEx
- Recycling & Disposal – Waste Management, Republic Services
- HR – Hay Group (Korn Ferry), Mercer Human Resource Group
- Security – Brinks Company, G4S, ADT
According to the Bureau of Labor Statistics, as of July 2020, total U.S. employment in the Professional & Business Services Supersector, which is part of the Service-Providing Supersector Group, was 19,902,000. The Q1 2020 total of private industry establishments was 1,946,440. The Q4 2019 total number of Local, State and Federal government entities was 7,961.
This supersector is divided into three subsectors:
- Professional, Scientific, and Technical Services: NAICS 54
- Management of Companies and Enterprises: NAICS 55
- Administrative, Support, Waste Management and Remediation Services: NAICS 56
(Consult your data provider for NAICS>SIC Crosswalks.)
Top 25 Business Services Companies Worldwide (D&B)
- DavidTan Associates (S) Pte Ltd – $700,080.00M | Singapore
- China Construction Bank Corp. London Branch – $156,043.53M | UK
- Mitsubishi Corp – $145,272.05M | UK
- Nestlé S.A. – $93,588.33M | Switzerland
- Nestlé Operational Services Worldwide SA – $93,588.33M | Switzerland
- Maggi-Unternehmungen AG – $92,007.93M | Switzerland
- HNA Group Co., Ltd. – $89,659.39M | China
- Shanghai Zhonghao Chemical Online Exch. Centre Co., Ltd. – $83,486.56M | China
- China Energy Investment Corp. Ltd. – $78,112.07M | China
- INA-Holding Schaeffler GmbH & Co. KG – $68,283.15M | Germany
- Procter & Gamble Services (Switzerland) SA – $66,832.00M | Switzerland
- Roche Holding AG – $64,247.56M | Switzerland
- Bank of Communications Co., Ltd. London Branch – $62,582.09m | UK
- Coles Group Deposit Services Pty Ltd – $59,363.78M | Australia
- China Merchants Bank Co., Ltd – $52,655.60M | UK
- Vodafone Group Public Limited Company – $49,286.99M | UK
- Sellers (S.A.) Pty Ltd – $48,454.86M | Australia
- China Huaneng Group Co., Ltd. – $47,782.76M | China
- Novartis International AG – $47,498.00M | Switzerland
- BHP Group Operations Pty Ltd – $44,288.00M | Australia
- AB Volvo – $43,411.22M | Sweden
- Dow Europe GmbH – $42,951.00M | Switzerland
- Goldman Sachs (U.K.) L.L.C. – $42,254.00M | United Kingdom
- China Merchants Group Co., Ltd. – $40,772.33M | China
- Xiamen Xiangyu Co., Ltd. – $38,717.87M | China
Business Services Industry Trends
Business services providers have benefited from the move to outsourcing. In fact, outsourcing itself is considered a business service, as customers entrust entire departmental functions into one end to end solution from an external provider, such as shipping and logistics. This approach can be an attractive option for startups seeking to grow with less investment, or companies in volatile industries who need to keep their operational costs flexible.
Competition is robust. Barriers to entry are relatively low. Competitors can come from across the street or the other side of the globe. In many cases all that is needed are technicians, software, telecommunications, maintenance equipment, or trucks. The bricks and mortar, the hardware, and disposable waste belong to the customer. Making sure everything works as it must is the role of business services providers.
Another source of competition for business services providers is often their own customers, who may bring these services in house. This may happen for a variety of reasons, including re-structuring or financial pressures. While the sourcing is internal, the organizational needs are the same.
Build Your Business Services Marketing List
Whatever product or service you offer, Mailinglists.com has the data and the expertise to build the right mailing list to reach your ideal audience in the diverse categories that comprise the business services sector. We begin with your customer and contact list. Then by matching and adding relevant records, and appending data elements wherever needed, we help you build out a robust foundation of marketable leads targeting the industries you want to reach. For 25 years our goal has been to help marketers reach the right audience with the right data at the right price.