How to Scale Your Business Quickly with Data Enrichment Services
The practice of appending or otherwise augmenting the data you’ve gathered with relevant context gained from extra sources is known as data enrichment. Let us underpin this data enrichment definition by a practical example. Imagine that you need new sales leads quickly — you can acquire their true name, job title, and other crucial details, initially applying a third-party tool to find their username. As a result, every B2B sales lead will be highly relevant, matching your industry and your unique offer, which will positively impact your revenue.
Data Enrichment Definition
|What is data enrichment? Providing more details to the data enrichment definition mentioned above, we can conclude that it is all about merging information coming from a variety of sources. Brands resort to this option whenever they feel the need to update their database with new information. In fact, they merge third-party data coming from an external (yet authoritative) source with the existing first-party prospect info.
All the client data initially comes in its most basic form. When such information is gathered, it is sent into a central data storage. Once this happens, the system frequently ingests it as discrete datasets. Then, the data is typically thrown into a data lake full of raw information. The latter has no significant value outside of certain contexts.
Data enrichment services can greatly assist you with making use of this unprocessed data. At least, learning this third-party data will help you acquire a deeper understanding of your consumers' lifestyles. It can also enrich your business strategies if you use it correctly.
For instance, you can customize your marketing communications more readily if you’ve properly investigated your customers’ likes, dislikes, and behavioral patterns. Effective techniques can boost your efforts and help your brand ensure personalized experiences in line with the long-term objectives of your business.
Most Common Types of Data Enrichment Services
There are lots of information enhancement types, and B2B sales outsourcing companies usually apply as many as they can. However, there are two popular data enrichment examples that are most certainly worthy of your attention.
- Demographic Data Enrichment
It is a process of complementing an existing consumer dataset with additional demographic data, such as a job title, income level, number of children, and current marital status. Moreover, it is also possible to find out more personal details, such as the type of the car and the average value of the customer’s property. You can even see the person's credit rating by browsing information from the relevant database. This knowledge can significantly help you enhance your offer, which is critical in an age when personalized marketing is the new normal.
- Geographic Data Enrichment
This type involves adding postal info to your current dataset that includes your customers’ addresses. Alternatively, you can add longitude and latitude. You may obtain this data from a variety of sources, including ZIP codes, mapping insights, geographic borders between cities and towns, etc.
Obtaining this information is beneficial in various situations, for instance, when a retailer is thinking about the best location to open a new store. Furthermore, you can apply geo-enhanced data to attract the most people within a certain radius, say 40 miles. Additionally, this information can be used to make your campaigns more targeted.
Advantages of enriching your data
- Improved and precise data
Expand your marketing campaign options by utilizing additional communication channels and improving your targeting. Your enhanced list will be as accurate as possible if you use the technique alongside email verifiers.
- Enhanced lead scoring and segmentation
The more information you acquire, the more precise your lead scoring will be. It will also be easier to segment your audience according to essential criteria. Additionally, you can update the conversion strategy in line with the stage in the funnel.
The days of mass marketing efforts are coming to an end, while an individual approach is finally in the center of attention. Initiate meaningful conversations with your prospects and provide them with value. As a result, your targeting will get more precise, and your open, click-through, and conversion rates will be higher.
Data enrichment companies provide numerous customer details for you to create an effective lead nurturing strategy. Make sure to approach each segment separately to gain a more loyal audience.
- Incredible user experience
Synchronize the new information with the one available in your CRM to ensure an awesome customer and user experience. No worries — security and data enrichment go hand in hand, so you can be sure that all your files will be well-protected.
Your primary objective should always be increasing sales. If you utilize your enriched leads to boost marketing efforts, you can expect a significant rise in sales and a boost of your email campaign results. You see, more personalization comes from enhanced data, and tailored outreach leads to improved KPIs, more impressive sales results, and, thus, better ROI.
How about some data enrichment examples? Investigate a few data enrichment tools to see how they operate in practice.
Top 3 data enrichment tools to leverage your marketing efforts
Enriching leads on your own may be extremely time-consuming, and often, there’s no need to perform this task using your own hands. Here are the companies that can help you fetch the necessary details.
Examples of Data Enrichment Tools
Here are the top 3 tools to provide you with information enhancement services.
- Snov.io API
Allowing for the full integration with any popular CRM platform, this tool will provide you with extensive client data. The only thing it requires to conduct profound research is an email address. Thus, get up to 1,000 API requests for $39 per month and benefit from excellent email sending features, extra lead generation and verification services.
This tool will also ask only for email addresses to get you a list of top-notch leads. Seamlessly synchronizing with your CRM, it will supply your business with highly qualified leads. InsideView is rather quick and user-friendly, boasting of its easy navigation. You can try the tool for free and pay $99+/month to get the necessary services.
Clearbit is well-known for outstanding lead generation for beginner startups. Its major advantage is providing support to companies that are entering the business arena alongside with the enrichment services. The tool will ask you to embed a corporate website or an email address to get the necessary insights. Clearbit operates with popular CRM systems, as well as with Zapier and Salesforce. You can make 1,000 requests for $99/month.
Why You Should be Continuously Enriching Your Data
Information enhancement (just like any other aspect of managing your company) isn't a one-time activity — you shouldn’t forget about it for a long time. To be achieving your sales goals on a regular basis, you should ensure an ongoing lead generation process.
Business security and data enrichment are practically synonymous when it comes to growing your company steadily. Although you can get a list of new prospects quite fast by utilizing one of the tools mentioned above, there’s a risk that you will have to do lots of data cleaning. Unfortunately, vendors providing such services don’t always check the relevance of the information they sell, so you might get the wrong details. We don’t recommend you upload the data you haven’t properly checked to your CRM.
|At Belkins, we firmly believe that the best way to be constantly attracting leads is to outsource this task to professionals skilled at prospect nurturing. Our experts know how to find high-quality leads and keep them interested. Thus, all the contacts you get from Belkins will be highly relevant, and their buying intentions will be checked.