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What is Data Enrichment and Why Your Team Needs It

What is Data Enrichment and Why Your Team Needs It

As B2B entrepreneurs and marketers, we know that generating leads is an essential step on the path to consistent success. You may have crafted a superb website with a top-notch marketing strategy, gathering a flood of leads from eager subscribers to your newsletter or email campaign. Let’s find out why Data Enrichment is an important part of developing your strategy.

In fact, you might even have taken advantage of a first class B2B List Building service.

But is this really enough to put you ahead of your competitors? The easy flow of information in today’s online world means that gathering data is only the first piece of the puzzle. Knowing how to use that data to maximize your sales conversion may be the more critical step towards long term success.

You have the Lead – What’s Next?

Let us say that a visitor to your website has left you their email address or phone number. From this, we know that the client must have an interest in your business. But where do you go from here?

Remember, you have only one shot at making that critical first impression when you decide to make your approach. The last thing you want is for valuable clients to hang up the phone or reach for the delete key. How do you persuade them to listen to what you have to offer?

The first step is to remember that every client is unique – arguably more so in the B2B world than in consumer facing industries. When your clients are businesses, you are not just a store with a checkout. Without establishing the rapport that comes through empathy, your sales may never arrive.

But in assessing our clients individually, we are faced with a daunting barrage of questions:

What is the business striving to achieve?
What is their main product or service?
What are their values?
Are they a small outlet or a large, complex enterprise?
Who are the key contacts?
What is their decision-making process likely to be?
Are they price sensitive, or could they be open to a premium service?

Data Enrichment – The Key to Homing Your Sales Pitch

This is where data enrichment steps in. B2B data enrichment takes the raw data you have, embellishing it with additional information needed for you to refine your approach.

From just that email address or phone number captured from your website or B2B list building service, data enrichment can gather a whole host of essential knowledge about the client’s business, including:

Size and composition
Business Values
Social Media Profiles
Key Contacts

In turn, this new information means you can sift your leads into ranks and categories. By lead scoring in this way, you gain further answers to key questions:

Which are the most promising leads on which you should focus your first efforts?
In which of your products are those leads likely to be most interested?
How should they be approached? Might they be interested in a free consultation or e-book?
To whom, in your team, should you assign the lead?

As a result, you can optimize the use of your resources in pursuing the lead.

For example, say your business specializes in data management and automation. If so, it makes sense for you to look first for particular kinds of client: those with data intensive operations which may be bogged down by manual processes. From this, you can assign a particular lead to a colleague with experience in arranging solutions for similar businesses.

With time and costs always under pressure, you now know that you are homing your efforts as efficiently as you can.

Bonus One: Data Enrichment Enhances Lead Generation
The benefits don’t stop there.
Remember, a busy client doesn’t have much time to hang around on your website. A short form is far more likely to sign them up for your newsletter or email list than an endless questionnaire.
So by reducing the amount of information that you need to capture from the client directly, B2B data enrichment can, itself, enhances the generation of leads.

Bonus Two: Streamlining with a Personal Touch
Emailing dozens of leads from a standard template can save you a lot of time. But the client could see only an inundation of spam.
A better understanding of your potential clients – brought to you by data enrichment – enhances your ability to segment your leads. From this, you can deploy a prepared approach customized for each segment that is more focused on the particular client.
In other words, you can kill two birds with one stone: improving customer engagement through that personal touch while still enjoying the benefits of a streamlined process.

How do I start with Data Enrichment?

So the big question: how do you go about enriching your B2B data?

One possibility is for data enrichment to be done yourself through manual searches for the information that you want. Needless to say, however, this approach can consume precious hours of your time – time in which you could already be in conversation with clients, or even shaking hands over a lucrative contract.

Far better, then, to subscribe to a B2B data enrichment service.

Placing your data enrichment needs in the hands of experts with a keen understanding of your business would not only you save valuable time. They can tailor the information they gather so that it is directly relevant to your own business and the services you have to offer.

From this, you can focus your efforts on pursuing the most potentially profitable clients.

Rounding it Off

Let us review the key benefits of a B2B Data Enrichment service:

Better understanding of the needs of your potential clients and the solutions they seek.
Access to key contacts and decision makers.
Focused communications on the most promising leads.
Enhanced engagement and response rates – no more relegation to the spam folder!
Stronger customer relationships lead to better brand loyalty.

Will data enrichment solve all of your problems? Of course not. There is always an element of discretion in approaching a client. Moreover, you still need to have perfected a top-notch sales and marketing technique. No one ever said making sales would be easy!

But we can do a lot to lighten the load – so harnessing the power of B2B data enrichment should be the next step on your business journey.

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