Are you looking for ways to improve your sales process and get better results?
One helpful approach that has become more popular in recent years is data enrichment. When used correctly, it helps you understand your target customers better and improve your sales efforts.
This article explains the benefits of data enrichment and how it can support your sales goals.
Why Is a B2B Data Enrichment Process Important?
Around 54% of businesses say their biggest challenge with marketing data is keeping it complete and accurate. Customer data often varies in quality depending on where it comes from. This can lead to poor-quality B2B data that affects how well your sales team performs.
It also makes personalized communication more difficult, which can lower your conversion rates or drag out the sales cycle.
The best way to get value from B2B data is to make sure it’s accurate, up-to-date, and useful. This is what data enrichment helps with. When your team has a clear and reliable view of the data, they can use it more effectively.
How Sales Data Enrichment Works: 3 Common Methods
Here are three commonly used methods to enrich your data:
1. Web Scraping
Automated web scraping collects large amounts of data from websites and brings that data into a spreadsheet or customer database. It’s a practical and affordable way to improve your B2B data.
You no longer need coding skills to use web scraping. Many no-code tools are now available, such as Captain Data, Octoparse, and Diffbot.
Web scraping gives you control over the type of data you collect. Once the system is set up, it runs automatically to make sure your team always has updated and enriched data.
However, not all scraped data is reliable. You should check and confirm the accuracy of the data before using it. Tools like email checkers and monitoring systems can help with this.
2. Manual Data Research
Another method is researching data manually. This involves searching for information on platforms like company websites, Google, or LinkedIn, then entering the data into your system by hand.
Manual research works well when you only need to enrich a small number of leads. But it can become too slow and time-consuming if you’re working with large amounts of data.
3. Data Enrichment Tools or Services
Data enrichment tools and services usually do three things:
- Gather third-party data from different online sources
- Clean and organize the data
- Combine data from several sources
Some popular data enrichment tools include Clearbit, Dropcontact, and ZoomInfo.
These tools are useful but can be limited. Since they rely on their own databases, you might not have as much control over which data you get, unlike with web scraping.
From experience, web scraping gives the most flexibility and value when enriching data.
8 Benefits of Data Enrichment for Your Business
Here are the key ways data enrichment can help your business grow:
1. Organized and Grouped Data
About 87% of marketers think their companies do not fully use the data they have. This is often because the data is unorganized. Data enrichment helps fix this by improving the quality and format of your data.
Once your data is enriched, you can group leads based on shared features like:
- Company size
- Department
- Industry
- Job level
These groups can be used to build email lists and target audiences for advertising, making it easier to run focused outreach campaigns.
2. Better Targeting With Grouped Data
To effectively reach your audience, you need a clear and targeted plan. Grouped and enriched data helps you create the right marketing approach for each group.
This allows you to send more relevant messages, which increases the chances of your leads opening and replying to your emails.
3. More Complete Customer Profiles
If you want to stand out from your competitors, you need to show that you understand your prospects. Having more complete data helps you do that. You can then customize your messages and improve the chances of getting a positive response.
Data enrichment gives you extra details about your leads, helping you build full customer profiles. With this knowledge, you can make your sales pitch more effective.
Keeping customer information current also improves your chances of good communication and stronger sales results. This can lead to a better return on investment (ROI) for your marketing campaigns.
4. Higher Conversion Rates on Web Forms
One benefit of data enrichment is that it can help improve conversions on your website’s lead forms. Most users don’t like filling out long forms.
By using data enrichment tools, you can create shorter forms that only ask for basic details, like an email address. This makes the process quicker for users and improves their experience.
Later, you can use data enrichment to fill in the missing details and build full customer profiles.
5. Faster Reaction to Business Trends
A business signal, or trigger, is an event that shows a new trend or change in your market.
By identifying these signals early, you can adjust your approach and stay ahead of competitors. These signals may come from news articles, social media, or other public sources.
For example, if a new company enters your market, it can be a sign of increased competition. With this knowledge, you can take action to protect your business position.
Data enrichment tools can help collect this type of information and update your contact records with it.
6. Bringing Old Leads Back to Life
Even older lead lists can still have value.
With data enrichment, you can go through past lead data and update it with fresh details. This can uncover new sales opportunities that were missed before.
It’s a great way to give old contacts a second chance.
7. Fewer Unsubscribes and Bounces
Using the wrong data can cause:
- Emails to bounce back
- People to unsubscribe
- Your messages to be marked as spam
This can damage your reputation and even get you blacklisted.
Data enrichment helps avoid these problems by checking and correcting your data before you launch a campaign. This increases the chance that your emails will reach the right people and get better results.
8. Lower Costs Through Better Data
According to IBM, bad data costs U.S. businesses over $3.1 trillion every year.
Data enrichment can lower your expenses by helping you stop storing data you don’t need. It combines your internal records with outside sources to pull only the most useful information.
This allows you to use your budget more wisely and support other important business areas, which can lead to higher profits.
Conclusion
Data enrichment is a powerful tool that can help you get more from your sales process. By using both your own data and outside information, you can better understand your target customers, improve outreach, and get stronger results.
If you haven’t already, now is a good time to start using data enrichment in your sales strategy. It could be the key to increasing your revenue.
The best way to start is by working with a reliable data enrichment service. At Revnew, we help businesses improve their data and connect with more potential leads using accurate and detailed information.
