More data is always welcome, especially in B2B. But the ground reality is that the information is good only when accurate. This accuracy calls for data enrichment.
Data Enrichment
Data enrichment is about turning tons of raw data into cleaned, structured, dependable data with updated data points, which is verified with third-party sources.
Third-party databases and tools make it easier to analyze the accuracy, remove redundant data, and add new insights. We can use this data to build robust account–based marketing campaigns, segment audiences, and more.
Benefits of Data Enrichment
Data enrichment helps teams make better decisions by providing access to more accurate data. It doesn’t just help augment the data but also enhances the quality as there is not just addition but also verification of accuracy. We can highlight new opportunities that otherwise could have been missed by analyzing and enhancing data.
Data Enrichment vs. Data Cleansing
People often incorrectly interchange these two words, even though they are related to data hygiene but mean different things. Enrichment verifies and improves data with third-party databases, while Cleansing removes inaccurate, corrupt, or redundant data.
Data Enrichment Strategies to Amplify Sales and Marketing Outputs
Companies with extensive databases or those which are generating a large number of leads every month find the data overwhelming.
Here are a few strategies that help enrich the lead data.
Starting with a strategy that is the most relevant, and then adding new ones to the process as per the requirements will be a good move.
Creating Longer Forms to Gain More Details
Even though looking for deeper information could result in fewer leads, these will be higher-quality ones. So, instead of wasting time on longer lead gen forms, it may be smarter to integrate a chatbot that asks these questions in a less intrusive way but helps gather more details.
This data can be compared with the CRM or email marketing tool to confirm its accuracy.
Leveraging Lead Gen Tools
Lead generation and data science tools identify online visitors as per IP address and domain and then match that information with the contact database. This tool allows one to check where the company visitors work, the company’s size, location, and the best point of contact.
Cross–checking other databases, adding new info to the current one, and importing into the CRM to see it all together can be done by retrieving the behavioral data about each lead, such as the pages they viewed, how much time they spent on a page, when they exited, what page didn‘t interest them, acquisition source, and so on.
Sending Out Surveys to Prospects/Customers
There are many data enrichment tools in the market; but that also means that competitors also have the same data. Gathering first-party data about the audience is a reliable way to ensure the data is valid and valuable for the organization.
Customer surveys make it easier to obtain the necessary information, which can then be used to segment audiences, target them with upsells, and deliver better customer service.
Using LinkedIn Sales Navigator
LinkedIn Sales Navigator is the best friend of a B2B sales representative as it offers deep insights into individuals and organizations. It helps sales teams to discover target accounts by digging for companies and filtering them based on location, industry, and more. As it also integrates with different CRMs, verifying data that is already there about prospective leads becomes effortless. This sure-shot information helps the sales team cold call with more accurate information about prospects.
Takeaway
Data enrichment is crucial for improving the data quality so the organization can make more profitable decisions. When marketing, sales, and business leaders have sounder data, they can build better campaigns, target more accurately, and make strategic decisions that increase the organization’s revenue.
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