Now more than ever brands are looking to enrich data to help them stay ahead of the curve for overall business growth, scalability, and compliance.
But not all data is created equal, and no single vendor can fulfill the unique needs of the worlds most demanding brands. In fact, the average fortune 500 business uses between 4-9 vendors to enrich data across their different business units. Investing in multiple data providers allows top brands to tap into critical insights that drive propensity models and allow their teams to connect with buyers through multi-channels, while ensuring compliance with regulations like GDPR, HIPAA, CCPA, CASL, etc.
While the need to invest in third party data is clear, data enrichment projects often fail due to inefficient data integration processes. Integrating multiple data vendor connectors to CRM, MAP, ERP, etc can be a very inefficient process that requires time-based API calls orchestrated by IT. The result? Sales and Marketing blaming the data for why they consistently miss their targets. This list helps explain how Sales and Marketing can take a stronghold of their data orchestration and make adjustments on the fly.
Why Use a Data Orchestration Platform to Enrich Data:
1) The average company uses about four data providers between different departments, requiring four individual connectors to the tech stach. A data orchestration platform enables you to make a connection to any of your favorite 3rd party data providers through a single connector.
2) A sophisticated data orchestration platform allows you to create custom vendor recipes and dictate which vendors populate which fields. Within RingLead, a user can set vendor hierarchies at a field level, so if one vendor can’t find a match, RingLead calls the next. This level granularity means you can control the quality of the source & match rates to ensure the highest possible standards for data quality.
3) A data orchestration platform allows you to create segmentation libraries and logic to transform input values, further enhancing your data investment (i.e. Job title to Department, Function, Level, Persona or SIC & NAICS codes to General Industry).
4) Key processes in a data orchestration platform like email lookup, website append, custom matching, and data normalization rules allow for higher match rates off of 3rd party data providers.
5) RingLead takes a very unique approach to data orchestration by focusing on actually preventing dirty data from every entering the CRM and MAP without hijacking the system of record. It’s 10 times more cost-effective to enrich a record before it’s created than to cleanse it after the fact. By enriching at the perimeter, RingLead users improve logic for workflows like duplicate prevention, lead to account linking, segmentation, and territory-based routing. All of those workflows can be part of a single web service call!!!
6) Data is being created from more channels now than ever before. It’s flooding into CRM and MAP via list import, web forms, manual entry, orders, etc. RingLead data orchestration has all endpoints covered. Make sure your orchestration platform focuses on actually preventing data at its creation point instead of cleansing after the fact.
7) Without a data orchestration platform, most companies rely on IT-intensive direct integrations with their data providers & workflow apps that cause major delays and time out errors. A data orchestration platform removes delays in distribution by verifying, enhancing, normalizing, linking, prevent duplicates, and routing… all within a single web service call.
8) Data orchestration platforms allow you to score person and account data to help identify Ideal customer profiles that are unique to a company or business unit. By tapping into the power of the data exchange, users can access an unlimited selection of data providers that help drive propensity models for best buyers. The first step to understanding your TAM is knowing who you should be selling to.
9) RingLead is a unique data orchestration platform in many ways. One of it’s unique characteristics is the ability to connect to multiple data providers and search for unique filtering criteria. By using multiple data providers and RingLead together, you can identify new prospects across multiple data sets and prevent purchasing duplicates. You can also pass the new lists through your existing data orchestration workflows that validate, enrich, prevent dupes, link, normalize, segment, and route. Talk about a list builder on steroids!
To experience how RingLead’s platform makes enriching data more intelligent and efficient, set up your free trial today or meet with one of our data SME’s for advice on how to tackle your challenges. If you want to find the best data provider today all on your own… visit the DataExchange and TalkDataToMe.
About the Author: John Kosturos is Chief Revenue Officer at RingLead where he serves as the resident expert on contact data quality and data enrichment. He has helped thousands of customers and partners solve their dirty data issues with custom solutions tailored to their exact business needs. John is an expert inside both Salesforce and marketing automation data.