Are you seeking ways to improve your sales process and drive better results? One strategy that has gained significant traction in recent years is data enrichment. In fact, you can better understand your target customers and optimize your sales process by incorporating data enrichment.
This article discusses data enrichment benefits and how this approach improves your sales endeavors.
Why Do You Need A B2B Data Enrichment Process?
About 54% of businesses state their biggest marketing data management challenge is data completeness and quality. In fact, your available customer data’s consistency varies depending on its source. This issue leads to low-quality B2B data affecting your sales team’s performance.
Furthermore, it negatively impacts personalized customer interactions resulting in lower conversion rates or unnecessarily extended sales cycles.
The best way to leverage the B2B data is to ensure that it is accurate, current, and relevant. This is where data enrichment comes into play. With a complete and accurate view of the data, your revenue team can use it more effectively.
Data Enrichment Benefits for Sales
Let us explore the valuable benefits your business can have with data enrichment:
1. Segmented And Structured Data
87% of marketers believe that their company underutilizes available data. Generally, the reason is data mismanagement. However, data enrichment lets you restructure disordered and poorly formatted data into a well-organized format. The process emphasizes enhancing the data quality that is paramount for your business.
2. More Tailored Outreach With Data Segmentation
A well-structured and customized approach is necessary when targeting your audience. You can use segmented data obtained from data enrichment processes to develop the appropriate marketing strategy for each target group.
It allows you to create highly targeted campaigns for every segment, emphasizing the key value propositions. Consequently, your prospects are more inclined to open and respond to your emails if the messaging is more relevant and meaningful to them.
3. Richer Customer Profiles
Demonstrating that you understand your prospects is vital to differentiate yourself from your competition. The quality of the data you possess about them significantly enables you to understand them truly. Further, you can personalize your messages accordingly.
4. More Web Form Conversions
One of the best benefits of data enrichment is that you can visibly increase lead conversion rate through web forms. Generally, visitors are reluctant to fill out lengthy lead capture forms.
But, data enrichment tools offer a beneficial solution for both you and your site visitors. You can use shorter forms requiring only essential information, such as an email address.
Consequently, this fosters a superior user experience for website visitors and aids to boosted conversions.
A data enrichment tool can then be used to acquire additional information and build a more accurate customer persona.
5. Quicker Response To Business Signals
Signals or triggers in the business world are events that indicate a shift or significant trend in your relevant operational landscape.
By promptly monitoring and identifying these signals, you can take advantage of the opportunity to prepare for upcoming changes. Hence, you can establish a competitive edge.
This type of information is typically time-sensitive and comes through different media outlets, including your company’s social media profiles.
6. A New Lease On Life To Lost Leads
Your old prospect list still holds potential value.
Using data enrichment methods, you can review your old list by supplementing it with current data and insights. As a result, it can unveil new opportunities that were previously overlooked. In fact, it’s the perfect approach to highlight new possibilities.
7. Reduced Opt-Out Rates
Inaccurate data leads to high:
- Campaign bounce rates
- Opt-out rates
It can label marketers as spammers or get their companies blacklisted. As a trustworthy marketer, you would not want to take such a chance.
However, using data enrichment and audit can mitigate the risks of bad data.