What is Data Enrichment?
Incorporating third-party information is a common practice to leverage data for strategic decision-making. Whether you’re trying to gain better insight into targets accounts or looking to personalize your engagement programs, third-party data can dramatically increase the value of the existing customer information in your database.
Relevant Marketing Through Hyper-Personalization
Your data helps you segment and target different types of customers in order to curate their brand experience and shape their buyer journies. But one dataset by itself doesn’t include every field needed to build a comprehensive single profile.
Enriched data shows a much more complete profile of the target, almost like looking into a crystal ball into both the lives of your leads and the inner workings of key companies.
Enrichment pulls fresh information from different channels and data vendors, fills in missing record details, and helps you achieve unprecedented levels of personalization. Lead nurturing becomes more comprehensive with relevant content, targeted messaging, and behavioral metrics behind it.
Optimizing Lead Management with Better Routing, Scoring, and Segmentation
All too often when a lead enters your system, it lacks the data points that your lead assignment model relies on for proper scoring, segmentation, and routing. Most lead assignment models work based on one or more of the following:
- Geographics e.g. city, state, and country
- Firmographics e.g. industry, sector, and revenue
- Demographics (more common in B2C) e.g. age, ethnicity, gender, income, and education level
- Behavior e.g. search intent, buyer-readiness, and purchase history
Missing indicators from any of these criteria will prevent your model from qualifying new leads and funneling them to the appropriate channels. Enriched data fills in the missing fields so your assignment and scoring models can more effectively manage incoming leads. Insufficient information is the biggest restrictor to comprehensive lead management.
Data enrichment helps all facets of lead generation, giving your team the upper hand to connect quickly and meaningfully. Did you know that the odds of qualifying a lead when contacted after thirty minutes drop by 21% versus contact within the first five minutes? With enriched data powering your lead assignment, you will never miss this window to connect.
How to Avoid the Pitfalls of Email Marketing
A 2017 study by Hubspot reports that a sales professional spends 21% of their day writing emails. This means that hours of precious sales time gets wasted each day when that perfectly-crafted email does not reach its target. With the impossibly high volume of emails reaching the average inbox each day, you need to make sure your message breaks through the noise.
Validating your email addresses with enrichment:
- Improves sender score
- Increases email deliverability
- Reduces bounce rates
- Increases open rates
- Helps avoid spam traps
- Enhances brand reputation
Verifying the recipient of an email is the best way to make sure the right message gets to the right person at the right time. After all, isn’t that the point of marketing?
Let’s take a moment to think about the B2B business cycle. As you identify, engage, build rapport, perform a demo, and finally close the opportunity, which data elements contribute most to your success?
Data helps define your cadence and lays the groundwork for an optimized pipeline, but it is up to your team to leverage this information for all it is worth. Delivering your personalized message to the target in a timely fashion can make the difference between closed lost and closed won.
New business lies at the intersection of eager engagement and meaningful communication. Don’t fall behind as a result of missing information.