Improving lead quality and creating an actionable database with Data EnrichmentMoumita Chakraborty
What is a business without data and what makes a business stand out from others? It is the quality of data it possesses. Years and years of data collection can be nugatory if it is not enhanced or looked upon appropriately, which is why ‘Data Enrichment’ is an essential part of any business or organisation, for, it gives a customer a deeper knowledge of who they are and what they are seeking.
As marketing today is mostly data-driven, it makes it a fundamental aspect of the marketing arena. But having surplus data only adds up when you have a clear and bigger picture of the owned data to achieve the desired results.
What is Data Enrichment?
When external, the third-party data from an external, authoritative source is merged with an existing database of customer information you’ve gathered yourself, it is known as Data Enrichment.
The third-party data can be from various sources like Google analytics, customer surveys, or mobile data, basically any data about customers that haven’t been collected on your own.
Importance and benefits of Data Enrichment for B2B
When a lead is captured at first, a handful of details such as the name, email address, and company is acquired, but usually, that is not enough to qualify a lead or plan a personalised outreach campaign. However, data enrichment gives the companies a better chance of converting a prospectus into successful leads.
Moreover, when the data is constantly updated, the team is focused on bringing max value to the organisation. It also helps in cutting down on excess spending. The company ends up spending double when every time a salesperson ends up calling a wrong contact.
Data enrichment also creates meaningful customer relationships. No customer wants to be treated generally that has a ‘spam sound’ to it. Users want personalisation and feel like they are important. This creates space to have more meaningful marketing, messaging and interactions with customers, which translates to better sales.