Marketers today have access to huge amounts of data, but that data is useless if it isn’t relevant and up-to-date. And it’s not just out-of-date data that’s a problem.
Customer information can come from a variety of different sources, including lead generation forms, social media, and sales calls. This means it can be tricky to make the data you do have cohesive, especially if you don’t have a lot of information about a customer, like just their name or email address. With 88% of marketers claiming that collecting first-party data is a top priority in 2021, it’s never been more important to know where insights can be found.
Data enrichment fills the gaps in the data you have access to, but it also updates inaccurate information and provides a bigger picture of your customers. Using it ensures your marketing messages aren’t delivered to the wrong people and makes it easier for sales teams to identify qualified prospects.
What is Data Enrichment?
Data enrichment is a type of data integration that fills in missing details to give a complete picture of a customer. Often, you’ll only be able to capture a prospect’s name, email address, and maybe their job title if you’re lucky, but this isn’t enough to create personalized messaging that really resonates with them.
Data enrichment works by appending one or more data sets with other attributes and values from different data collection points and sources. For example, it might combine customer information gleaned from sales calls with lead generation information or data from social media and website analytics.
At its core, data enrichment gives you improved and refined data groups so that you can create more insightful campaigns that reach the right people at the right time.
The Benefits of Data Enrichment
The benefits of data enrichment are pretty obvious, but it can help with many aspects of running a business. In fact, companies that use data enrichment see up to a 50% growth in sales and customer satisfaction, while those that enrich data with a company-wide data management plan can record a 2x increase in ROI.
1. Collect Valuable Data
First and foremost, enriched data helps sales teams ask the right questions and collect information that matters. If you know that a prospect’s job title or company name is crucial to your marketing efforts, you can incorporate that into sales calls to make sure you get the data.
2. Improve Data Accuracy
Data enrichment verifies the information you already have to keep data up-to-date. As well as monitoring the information you have and tracking it against any new information you get from customers, enrichment can also help correct typos and remove double entries by comparing data from different sources.
3. Saves Time
Manual data enrichment can be incredibly time-consuming and tedious. Luckily, there are plenty of automation tools on hand to help. Automating the process means you don’t have to enrich data manually by scouring different data pipelines and sources and can instead collect it on autopilot from various places. In fact, 55% of businesses believe the biggest benefit of automation lies in data collection.
Data Enrichment Use Cases: How Does it Work?
Data enrichment can benefit businesses in many different ways, but it tends to have the most positive impact in these areas:
Increase Lead Form Conversions
Knowing what information you need from customers means you can pare back the questions on your lead generation forms. Lengthy forms with unnecessary fields are off-putting to potential customers, so keeping required information to a minimum is key while still getting all the data you need to move forward.
This also means you ask the right questions and get the most valuable information possible for your sales team.
Customer segmentation is crucial if you want to tailor your marketing and sales messages to specific consumer groups. Doing this increases conversion and builds trust quickly, all while getting a better understanding of your customers.
Data enrichment can help you categorize customers to make sure you’re sending them the right message at the right time. Plus, it gives you valuable information about customers that you can use to further segment them into niche groups or cohorts.
Improved Lead Scoring
Manually lead scoring prospects can be tedious, especially when you don’t have a lot of information about them. Data enrichment enhances the information you do have so you can more accurately give leads the right score.
For example, if you only have a prospect’s name and email address, it’s difficult to know whether they are a qualified lead or not. If, however, you enrich that information with their job title, location, and company position, you’re able to make a more informed decision about their score.
Consumers today crave personalized experiences with brands. They want to know that you understand their unique wants and needs, and have a solution geared specifically toward them.
How to Enrich Lead Data
Ready to implement some lead enrichment techniques? Here are some ways you can get started.
1. Identify Your Needs and Customer Profiles
Firstly, you need to understand what information to get from customers to qualify them and provide a good experience. Decide on what data you need to do this and what you will use it for. For example, if you need to know what position a prospect is in their company hierarchy to pitch them the right product, make sure you collect that information.
Use your customer profiles or buyer personas to identify the types of data you need. In particular, look for objective data that can be scaled, like age, location, and job role.
2. Evaluate Your Data Set
Determine the quality and accuracy of the data you already have. Check your CRM platforms and anywhere else you’re collecting data from to see whether it’s valid and relevant. From there, you can identify any gaps in your records or any data that other methods are failing to collect for you.
LeadsBridge makes it easy to manage customer and marketing data across a variety of different platforms thanks to our powerful range of CRM integrations.
Facebook Lead Ads integration with HubSpot
TikTok Lead Generation integration with Zoho CRM
Bitrix24 Integration with LinkedIn Matched Audiences
Salesforce® integration with Facebook Custom Audiences
3. Identify Sources of Data Enrichment
Decide what data sources you will use based on the data you need to get. For example, if you need a prospect’s job title, consider using a platform like LinkedIn as a data source or lead generation hotspot. You can get the data you need through web-scraping, manual lookups, purchasing LinkedIn datasets, or by using a designated enrichment provider.
4. Segment Customers and Enrich Their Data
Finally, tighten up your data sets to align with your customer segments. Beef up your segments with added important data and create personalized content and experiences for each type of customer. Use the data you’ve collected to build out unique journeys for different prospects and craft marketing and sales copy that speaks directly to them.
Data Enrichment Benefits Every Bit of Business
Data enrichment doesn’t just gather data from multiple sources. It gives you a bigger picture of your customers so you can provide better sales messages and create more effective campaigns. Once you learn more about your customers, you’re able to create an entire personalized experience specifically for them.
Through robust integrations for a range of key customer and marketing platforms, LeadsBridge helps businesses collect data in one central place and use it to enrich existing information.