Today’s businesses rely heavily on data. You’ve most likely done significant research on your industry, rivals, and the market as a whole before launching your brand.
And after your company is up and going, data and analytics will be your best friend when it comes to everything from website optimization to selecting what products to offer next.
But beyond simply gathering data, you need data enrichment to get maximum results. Otherwise, you could gather the wrong data and lose millions.
In this article, we’ll explain 7 Ways your business can use data enrichment.
What is Data Enrichment?
Data enrichment is a technique for improving the quality of your existing data by keeping it up to date, double-checking it for accuracy, and adding information from both primary and secondary sources.
Data enrichment, when used with customer data, attempts to create more thorough and accurate customer profiles. It accomplishes this by completing details in a variety of categories, including demographic, behavioral, geographic, and firmographic data.
How to Use Data Enrichment: 7 Ways
1. Boost Leads With Shorter Forms
Finding the right balance with lead capture forms can be difficult. The fewer fields you have to fill out, the more likely you are to obtain a conversion. The down side? you won’t get so much information doing that.
Thankfully, shorter forms will still work well for you if you use data enrichment. This is because, after you have the fundamental information about the lead, you can use data-gathering technologies to supply the other facts rather than asking the lead to enter them in.
2. Gather Data Based On Your Exact Customer Profile
Want a better notion of the blanks you need to fill in your customer records, and where to acquire that data? You should get a comprehensive, in-depth description of your ideal customer.
Meanwhile, you can improve your ideal client profile to even greater degrees of exactness by employing data enrichment techniques to obtain this information.
Your marketing and sales departments can leverage these ever-improving profiles to inform their lead qualification and engagement tactics.
3. Save Cost
It costs money to gather data. This means you’re essentially wasting money if you’re storing erroneous data. Thankfully, you can feel comfortable that your data is reliable and useful with data enrichment. The approach makes the cost of data worthwhile.
4. Achieve Maximum Personalization
Personalization in marketing has become so common that it’s difficult to attract someone’s attention without it.
For example, imagine that you’re considering how to build a diet app. Before you build, you need as much data as possible to personalize your app to your target audience.
The greatest material to work with is data that has been sourced, updated, and checked through enrichment processes. It allows for the timely delivery of communications that apply specifically to the interests, difficulties, and concerns that influence prospects’ purchasing decisions.
4. Score and Group your Leads Better
The more data you have, the more opportunities you get to create audience groups that are more narrowly focused. Better segmentation allows for a lot of personalisation and allows you to try out different types of targeted outreach.
Data enrichment also improves the accuracy of automated lead rating systems when determining whether a lead is a good fit and ready to buy.
6. Achieve Better Customer Experiences
The ultimate goal of data enrichment is to please your customers. By providing them with the information they require, focusing on the areas that are most important to them, and responding to all of their questions.
Full data sets help create lasting customer experiences during sales and marketing interactions. Data enrichment is the trick to convincingly demonstrate that you have the answers your customer needs. This is what convinces them to buy from you.
7. Get Greater Sales
Imagine spending a significant amount of money on a contact list in the hopes of attracting clients and prospects, only to learn that the list is outdated. Such losses are devastating for businesses.
To maximize sales efficiency and ROI, data enrichment guarantees you have a clean and accurate contact list. It also allows for upses and cross-sells. Why? because your company has the correct data and understands its customers well.