Article

Sofia Wilton
Sofia Wilton 25 April 2019
Categories B2B

B2B Data Enrichment Strategies to Drive 100X Results

Data Enrichment is a must for business as it helps maintain and enhance your lead list. You can stay in touch with existing customers and yet reach out to new clients. Having enriched data by your side you will not miss out on leads and stay ahead of competitors.

In today’s ever growing data-driven marketing landscape, data enrichment plays a central role. It involves adding new data points to your existing leads by developing awareness and supply sales team with more perspectives. Businesses and marketers must adopt a strategic approach to enrich their B2B data as it has the most potential for both marketing and sales.

When you are planning to launch a data-driven campaign, every marketer should make sure off a few points:

Is the data from a reliable vendor and whether it gives accurate information of the customer?

Is it free from inaccurate or duplicate information?

Is the data on customers sufficient?

When all the above mentioned questions are passed then are maximum chances of you achieving your desired campaign goals along with progress in customer engagement, revenue growth and increase in lead conversions.

Data enrichment tools first procure publicly available data. It is then cleansed, organized and formatted to make it user friendly. It is then packaged neatly and made available through email or IP address.

Top 6 B2B Data Enrichment Strategies to Drive 100X Results

Enhanced Segmentation

The foundation for a successful marketing campaign is to segment your customer data by data enrichment. This gives you an opportunity to segment customers who were previously inaccessible to your business. Segmentation gives you a competitive edge in an important way and can grow your target audience exponentially.

Shorter Forms

The central focus for any marketer is lead generation. It is always better to have a shorter lead form as customers are willing to fill in information than turning away potential leads with long, daunting, or even invasive forms. By asking for just relevant information you are building a better customer experience for your site visitors. Through data enrichment process you can source additional information in real-time to create a more robust customer persona which can be helpful in determining lead quality.

Automatic Lead Scoring

Manual lead scoring processes are tedious and take a lot of your time. So, by getting your data enriched you will remove yourself from the lead scoring process by automatically sorting lead priority based on present enrichment data. For instance, if you only have first name, last name, and personal email address, then through data enrichment tool you can add more information. By including a business email address will helps identify the visitor as a key decision maker at a target account and it can be automatically passed it along to sales. This can further improve conversion rates and develop a successful relationship between sales and marketing teams.

More Personalization

Most customers crave and demand for personal interactions. With enriched data marketers can be more creative and more personal in their campaigns and keep your customers more engaged with your business. With accurate data you can roll out targeted campaigns and derive more value from your personal interactions. This improves customer experience to both new site visitors as well as your existing customer base.

Opportunities with existing customers

Marketers understand that there is tremendous value in your existing customers’ database. If you have good quality data it is easier to find customers who are ready to expand into other product offerings or grow their existing contract. When you opt for data enrichment process you get an opportunity to expand the quantity of your data in a significant way, thereby increasing revenue.

Facilitate machine learning technology

Today marketers can acquire customer data through conversations with an artificially intelligent machine as it has already taken the marketing world by storm. Moreover, marketers can then enrich that data with existing information in their database, or from third-parties. While data enrichment helps you to identify opportunities to grow your customer base it can also help retain your customers.

Data enrichment can transform your marketing strategy and can help you optimize lead generation and improve your impact on revenue. So, using data enrichment to add the right information to your database is a worthwhile undertaking. Data enrichment if done well, it can bring in good quality leads, which can measure the true success of your demand generation efforts.

You can expand your business by introducing cross-sell and up-sell offerings to your customers. The success of your sales strategy will show you how your customers are loyal to your business and how good your connections are with them.

Conclusion

Data enrichment is likely to be the ultimate solution businesses. It is the process which can boost the value of your data assets. With up-to-date and accurate data companies can generate more informed and strategic decisions. Regular testing and monitoring will be required to maintain the quality of data and will continue to add value down the road. Therefore a high level of expectation and forecasting will go a long way in the end.

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