You have everything you need to build your next marketing campaign. But you also get the eerie sense that something is missing because your sales team has incomplete customer data.
How can you get a campaign to work without the whole picture? It's like trying to go in a boxing match with Mike Tyson blindfolded (though to be honest, would it matter if we're blindfolded? Better not to see what's about to happen, right?! 😬).
That's where data enrichment comes in. And no, it doesn't mean spending hours scraping for this data personally.
Using automation for data enrichment, you give your sales team the whole picture. Every customer preference. Every e-mail. Every phone number.
This doesn’t just help you connect the dots. It changes the game entirely by letting you personalize interactions and enhance their experience. Your sales team shows up informed and ready to deliver with data enrichment on their side.
Here's how to leverage these key tools and use automation to do it.
What Is Data Enrichment?
Data enrichment, as its name suggests, is all about making data more valuable. But what does that really meeeeeean? Well, it's a process used to enhance, refine, or improve raw data. This means taking basic information you already have and adding valuable details to it.
For example, if you know a customer's email address, an enrichment tool might be able to find their social media profiles or phone number. This helps tell a more complete story to the sales team or provides alternative methods of contact. More ways to reach people to sell them? Boom. That's a win across the board.
But why would we want this additional information? Well, think of each piece of enriched data as another clue into your customer's behavior and needs. Like pieces in a puzzle, they help paint a clearer picture so businesses can make better decisions.
We live in an age rich with data, but too many companies don't know how to use it properly. With a solid data enrichment strategy in place, you position your company to outperform the competition with more personalized interactions from the sales team.
Research from S2W Media shows that 75% of modern companies don't have the technology or expertise needed use data effectively to maintain a competitive edge in their industry. The last thing any customer wants is to feel like they're on the receiving end of "spray and pray" marketing, so the more your team can individualize and segment your efforts, the better. Data enrichment to the rescue!
And according to McKinsey, companies that use data properly are more profitable when compared with those who don't collect it or don't analyze and use it properly.
The Role of Data Enrichment in Sales
Enriched data significantly improves customer experience by allowing brands to understand unique needs and personalize sales efforts. The goal of enriching data is not just about improving its quality but also about making it more useful without noticeably increasing costs or risks.
For instance, when sales reps have access to accurate demographic details such as job title or industry sector--gathered from multiple sources including first-party (internal) and third-party (external) databases--they're able to segment customers effectively for targeted marketing campaigns.
Distinguishing Between Data Enrichment and Data Cleansing
There are two parts to ensuring high-quality customer records: Data Cleansing, which involves correcting errors like duplicate entries, misspellings, and outdated info. Then there’s Data Enrichment, enhancing those clean records with additional relevant information.
While both are essential, a surprising stat shows that over 50% of organizations spend more time cleaning data than using it. However, an effective enrichment service could help businesses get past this roadblock and into making use of their data.
The Benefits of Using Data Enrichment
Adopting data enrichment strategies can provide numerous benefits to your sales team. These range from reducing costs by eliminating redundant information, improving the relevance and accuracy of customer data, to tailoring unique experiences for customers based on their backgrounds and preferences.
You Can Take A More Personalized Approach In Your Marketing Campaigns
Data enrichment enables a more personalized approach in your sales strategy. By using enriched customer profiles, you're able to understand individual needs and expectations better. In fact, 66% of customers want brands that recognize their unique demands. Your customers are more likely to feel like you're talking directly to them (in an authentic way, not a creepy-Facebook-ad way that makes you wonder if someone's listening to your conversations.)
A further benefit is the ability to customize offers according to each client's preferences; after all, 71% desire personalization in every offer they receive from a brand. This leads not only to improved relationships but also increases chances of achieving business goals through higher conversion rates.
You Can Reduce Costs With Accurate Data
An important and often overlooked aspect is how focusing on enriched data can help cut costs in an organization. By honing in on relevant details about prospects or existing clients like email addresses or phone numbers obtained from multiple sources like social media or third-party platforms, it's possible to avoid redundancy - saving both time and resources.
Besides cost-saving benefits, this focus enhances the precision and relevance of our database content leading us towards our machine learning objectives much faster than otherwise would be possible if left dealing with irrelevant or inaccurate datasets.
You can also more effectively deploy your marketing campaigns to segmented groups of users based on your data analysis rather than trying to throw spaghetti at the wall to see what sticks.
What Are Some Data Enrichment Tools?
Vainu specializes in company information and provides insights that can be used by sales teams to target potential customers better. This enrichment tool has the ability to tap into various data sources, helping companies get a more comprehensive view of their ideal customer.
Clearbit focuses on gathering specific data points about individual users. It offers an email lookup feature where you can enter an email address and obtain valuable demographic data associated with it.
An interesting fact is that these operations automatically match, correct or interpolate data values with some "confidence" level—meaning they might sometimes make mistakes. But given the sheer volume of raw information these tools process, such instances are few and far between.
Magical is an innovative AI tool that brings your customer profiles to life by enriching them with relevant information. On a LinkedIn profile, simply click the Magical button to see a prospect's details in one click. It's that simple!
How To Enrich Your Data
Step 1: Collect and Manage Your Sales Data
To start the process, you must acquire data from a variety of sources. Gathering data might involve acquiring details like age, area of residence, online activity on websites or social media sites, and contact info such as email addresses or telephone numbers.
After gathering this wealth of first-party data, managing it becomes paramount. The aim here is to organize collected customer profiles in a structured manner so they can be easily accessed by your team when needed. A data warehouse, serving as a centralized storage place for both your external and internal datasets, can be useful in this scenario.
Step 2: Identify Relevant Data Types
If you're downloading reports of your own data, you may need to manipulate it and reorganize it. With a large volume of collected raw information, the next step involves identifying specific types relevant to your goals--referred often as 'defined' data enrichment. You might want specifics like purchase history if you're looking at past behaviors while email lookup would come in handy when tracking communication effectiveness with customers.
Understanding these defined points allows better segmentation, thus making targeted marketing more effective because messages are personalized based on individual needs/preferences rather than broad strokes over entire demographics.
By focusing efforts towards what matters most--whether improving customer experience through tailored messaging or creating comprehensive ideal client profiles--businesses avoid wasting time sifting through irrelevant material and instead concentrate resources where they'll yield maximum return.
Using Magical for Data Enrichment
As the data enrichment process can be time-consuming and complex, tools like Magical help simplify this task. This tool not only assists in collecting and managing sales data but also enriches it by identifying relevant types to give you a more accurate customer profile.
What's unique about Magical is its ability to enrich data directly on a LinkedIn profile. No need to go to a separate application or enrichment database. You can get an email address right there on the profile, where you're doing your work.
Follow these steps to grab someone's e-mail for a personal outreach or follow-up:
- Visit their profile with the Magical extension plugged in and active
- Click on the green Magical button to the right of your screen
- If the e-mail address is grayed out, click on it for Magical to pull it up
- Copy the information over into a spreadsheet or wherever else you need it!
When you click Magical open, you'll see all kinds of data you can use.
You can easily port this data over into a spreadsheet or somewhere else to make it easy for the next step in your workflow.
A Final Word
The more you know about someone, the better you can use that for marketing purposes. Instead of going in with 75% of the picture, data enrichment can give you the whole picture. That way your marketing efforts aren't wasted and you get more highly qualified leads.
Using tools like Magical will help you collect and refine your data easily and painlessly. All you have to do is download the Chrome extension (it's free). It takes just a few clicks to get set up and you're off to the races. The average Magical user saves 7 hours a week. What could you do with an extra 7 hours this week?