What is data enrichment?
Maintaining your data's cleanliness, accuracy, and current status, particularly in your customer relationship management (CRM) system, is known as data hygiene. An essential aspect of this is data enrichment, which involves enhancing the quality and trustworthiness of your raw customer and lead data through the addition of supplementary information and cross-referencing with external sources.
The end-to-end B2B digital sales flow is as presented above. Enriching is integral to the flow and enrichment of CRM data is carried out at this stage to be used later in the following steps. The purpose of your CRM is not to simply accumulate as much data as possible, but to obtain the most valuable and representative information about your leads and customers, including demographic, geographic, and psychographic details. To gauge the quality of your CRM data, pay close attention to your engagement rates (such as email opens and clicks) concerning your total number of subscribers. These metrics will give you an indication of the overall health of your database.
Why data enrichment?
Data enrichment allows brands to enhance the data they have collected about their leads on their website with additional information about the same customers gathered from external sources as they browse the internet. This enriched data can be used in various ways, such as combining internal sales data with third-party advertisement data to measure advertising effectiveness. Data enrichment offers numerous benefits for brands.
Prioritizing the data that is most crucial to the organization, and emphasizing data integrity, can lead to a streamlined and cohesive set of information can be attained. Data enrichment can be employed to structure and refine disorganized, improperly formatted information. Once the data is obtained, it can be divided into distinct groups based on common attributes. These segments can then be utilized to generate targeted email lists and advertising demographics, allowing for effective and specific outreach campaigns to be executed.
To truly understand and cater to the unique preferences and needs of your customers, a customer-centric approach is necessary. To make the most of this approach and ensure that your marketing campaigns are effective, it is important to have not only your data but also enriched information from external sources. This allows you to create personalized campaigns more likely to resonate with your audience rather than being generic or mass-produced.
Email marketing is a great way to demonstrate personalization. Personalizing emails through techniques like one-to-one email customization has been shown to boost transaction rates, revenue, and return on investment. A simple place to start is by including recipients' first names in the subject line, but there is potential for even greater customization. A more effective approach is to segment your email list and send targeted promotional emails based on each group's persona. This allows you to tailor the content to their specific interests. A personalized email created with the aid of enriched data is as follows.
By eliminating form fields that negatively impact conversion rates, one can increase the number of leads generated. A shorter and simpler form ensures higher conversion rates. Remove the 10 information fields. Prospects often hesitate to provide sensitive information, such as financial data, social media profiles, contact information, etc. However, with data enrichment techniques, this information can be obtained through other means, without needing to directly ask for it on the form.
Ideal Target Audience
It is crucial to determine which data points are most pertinent to your business, as having a large amount of information is of little value if it is not utilized effectively. There are countless ways to enhance your B2B databases, such as by incorporating addresses, phone numbers, Sales Navigator profiles, and customer feedback. Data enrichment allows you to focus on the most relevant data points and disregard others. To do this, it is essential to begin by establishing your Ideal Customer Profile (ICP). This will assist you in determining which data to extract. This approach simplifies the process of identifying and qualifying potential leads, while also facilitating the creation of a structured and relevant database. For instance, if you have a list of CMOs, but your target market is CMOs at software-as-a-service start-ups with less than 50 employees, you can enhance your lead list by adding information such as industry sector and company size.
Through data enrichment techniques, new information and insights can be gleaned, breathing new life into lost leads and uncovering potential opportunities. An older list of potential customers can still possess valuable potential. Revisit and revitalize the leads that were previously disregarded. Circumstances such as budget, requirements, and decision-makers are subject to change over time, and a lack of interest or readiness in the past does not necessarily indicate a continued lack thereof.
Best Data Enrichment Tools
The idea behind using data enrichment in CRM is to gather as much information as possible about your target enterprise and verify its accuracy to ensure the integrity of your reporting. Specialized tools designed to improve your customer database's ROI and conversion rate optimization through data enrichment can help B2B marketers enhance the quality of their inbound leads. These tools, known as lead enrichment tools, aim to provide as much information as possible about a targeted business and verify the accuracy of the data to ensure reliable reporting.
UpLead is a top choice for data collection, management, and enrichment. It allows you to gather, correlate, and analyze business data from various sources, ensuring efficient processes and accurate results. UpLead is a powerful B2B lead generation platform with a comprehensive, reliable database that helps you identify potential leads, connect with them, and ultimately increase conversions. The platform's robust suite of tools also enables users to create targeted contact lists and make data actionable through database enhancements, without duplicating, risking, or losing customer records. You can access all relevant information about your B2B leads, including company name, URL, number of employees, sales volume, social links, industry, and more.
InsideView offers B2B data and intelligence solutions to help you maintain clean CRM data and increase revenue. By integrating your CRM platform with InsideView, you can access detailed information about your leads. The platform's B2B database is specifically designed for sales and marketing leads and is easy to use and quickly provides valuable data. The platform enables you to monitor customer activity and behavior patterns on social media and other sources, allowing you to turn a cold sales call into a potential opportunity with up-to-date data. In addition to data enhancement, InsideView offers other solutions such as market segmentation, planning, and sales acceleration. You can access profiles for more than 50 million contacts and companies directly through InsideView, and this data can be integrated with your CRM software.
LeadGenius is a cloud-based data enrichment tool that helps businesses improve their data with custom data points, buyer personas, and verified leads. It provides personal, international, and vertical data and claims to support your go-to-market strategy. LeadGenius enables you to obtain high-quality, refined customer data, allowing you to effectively communicate with prospects and reduce automated email campaign bounce rates. The platform's in-house team manually verifies the data to ensure accuracy and enriches your contact information based on your specified factors such as company name, demographics, location, etc.
Clearbit is a marketing data engine that can identify prospects and customize your marketing and sales interactions with them. Its solution includes data enrichment, which provides over 25 data points to help sales and marketing teams enhance customer interactions. This data enrichment tool enables you to access new and real-time customer data and get a comprehensive understanding of your potential customers. Clearbit can be easily integrated with your existing CRMs and other marketing platforms such as Salesforce, Zapier, HubSpot, Slack, and Marketo, and is useful for lead capture, lead nurturing, and lead scoring.
DiscoverOrg offers go-to-market (GTM) prospecting solutions for marketing, sales, and recruiting. This B2B prospecting tool helps professionals in these fields find, connect with, and sell to prospects more effectively. DiscoverOrg provides data that can be used to optimize various aspects of your sales development, sales leadership, demand generation, recruitment efforts, and more. The platform also offers integrations with various sales automation and CRM tools.