For any organization, It is crucial to ensure you’re up to date with the information of your target audiences on a high level of precision.
In short, data enrichment is an advanced way to gain a deep insight into your audience and utilize your efforts effectively and help an organization to stand their steps in the online market.
Let’s first define Data enrichment
Data enrichment is a suite of processes which carried out from when the data is collected in a raw format to get it in an enhanced form of a profile of a particular customer.
Generally, the data which we get it is in an unstructured format, to make it useful, we require to put some efforts to make it in a structured way. Otherwise, it’s like money to burn.
During this data enrichment process, it is subject to a series of interdependent steps such as- extracting data, transforming and loading information to make it more valuable to target an audience in a more precise way.
Data enrichment process mainly commences from the extraction of data- it generally involves collecting data from various data sources from the first-party, second-party and third-party.
Next comes the ‘Transform’- means verifying the data for any errors or need for any changes or updating it based on some factors and changing it to the ready to use format.
And the last step comes to the ‘loading’ of the data at the destination.
Data enrichment main motto is to get deep insights into the customer and make it more valuable.
In the end, knowing your customer is only the magical mantra that will only help you to generate leads.
How can you perform this?
It can be performed either by manually or automated process.
In this era, with the advancement in technology, every business is producing a vast amount of data every day.
Besides this, an increase in the use of new devices & modification of technologies leads to the production of data at exponential speed.
In these circumstances, do you think it’s easy to manage all these data manually using a human? Definitely not.
Let’s discuss how these both works individually.
The manual process is a conventional method of adding data attributes whatever they find matched with the customer profile.
Obviously, humans are more intelligent than the computer in taking decisions and go forward according to the circumstances. Humans can spot pitfalls and change choices accordingly.
However, going with humans against a computer is an excellent choice to get better insights.
But, organizations daily produce a massive amount of data and examining it manually by a human is something a never-ending task.
The automated process goes through a list of algorithms, ways, executions and integrations. For correcting-
- Spelling mistakes
- Checking for duplication
- Filling missing attributes
- Segmenting audience based on their interest and preference.
- Appending datasets
- All of these can be executed automatically by using machine learning technology.
Usually, customer data enrichment tools follow a basic three steps- Match, Clean and Append.
During this process, data appended to the currently available data from the third-party authoritative sources.
It commences with matching, where the available data is matched with the incoming data from the various external sources.
This process is followed by correcting invalid data as per based on other available data.
However, there are some situations which are not same for every targeted audience.
For instance, while filling the form for men and women, they are some differences which may show gaps for others if it does not belong to others.
Data enrichment tools collect different data attributes of a customer, but the commonly used types are- Demographic, Geographic, Behavioural, Psychographic, and Census.
The process of automation can be done with the help of different data enrichment tools available in the market.
These data enrichment tools transform your customer single piece of data into their complete profile.
When you enter the details of your customers’ any attribute and hit on the search button, data enrichment tools will generate a complete profile of a person, which may include-
- First & last name,
- Social media accounts,
- Professionals profiles,
- And many more attributes.
Let’s discuss some of the most used data enrichment tools.
Leadspace takes into account the entire data from digital devices across the web and gathers that data into your available customer and prospect database.
The collected web data attributes, integrated with predictive analytics.
It helps you to get a better insight into your customer, which customer is more likely to get converted with the current information of the customer based on their previous actions.
This data enrichment tool also helps you to get the ideal customer.
It collects the entire information of the audience whenever they perform specific actions like when they visit any website, signup, subscriptions or similar other actions on the internet.
Leadspace offers both lead scoring and data enrichment in a single platform that works together.
Thus reduces the number of efforts you put for lead enrichment where you need to manage and improve your segmentation abilities.
LeadGenius is the pioneer in sourcing worldwide data.
It implements best practices and a consultative approach to disclosing your international ICP, compliance, TAM analysis, data sourcing and validation.
It updates information on an on-demand basis to deliver actionable data.
LeadGenius implements country-specific data strategy to-
- Make sure a flexible ROI appropriate method which meets your objectives.
- It crosses the limits of technographic and firmographics for intense customer division.
- Focus on the tough to find data attributes that reveal your greatest opportunities.
- Fill data gaps at the extent with present data management.
LeadGenius fills the data gaps and makes it cleaner and more useful.
When you integrate your marketing automation and email marketing platforms; LeadGenius claims to build your outbound process more capable and cheaper than inbound by reaching the right leads and refreshing your positive feedbacks in real-time.
Openprise delivers data enrichment that fills the different data attributes gaps based on existing customer information and readily available web data.
Openprise compares your customer data attributes over internal and government sources to locate missing attributes and find new leads for, mainly targeted accounts.
It can assist you in finding the right person in the account with the help of job title, and matching with your internal buyer personas.
In Openprise, you can integrate your third-party apps and create discovery rules to extract out the valuable information available.
You can extract reference data from some of your apps or create your database, and then build personalize rules to refine that data for later use.
All these features of Openprise help you in marketing, sales- inbound & outbound.
It adjusts audience data and brings confidence that they are targeting the right audience at the right time to simplify the funnel.
InsideView provides a complete service platform for marketing, sales and data needs throughout the organization.
Data providings includes –
This platform can clean and remove the outdated or redundant data from your current lists, then connect with your marketing and sales platforms.
Once the data is cleaned, it then automatically fills the data attributes gaps with new prospects data once it comes in, which saves your time in the long run.
Utilizes short forms to improve conversion rates, and this tool automatically fills the gaps once the lead comes in, which gives ready to use data.
Customer Data Validation
It removes duplicate or inaccurate data from the profiles. It creates a single profile of the customer to avoid considering different profile for the same profile with varying attributes of data.
It helps in improving engagement with customers and reduces the buyer’s journey for leads.
ClearBit primary purpose is lead improvement through which you can pull out the lead information from social media sites in a short period.
The pull out data from this data enrichment tool directly get appeared in your sales force. Thus it saves your time and efforts in research and data entry.
This data enrichment tool just asks you for the single data attribute of an audience then it will furnish you with the complete data information of that particular audience.
For instance, if you’re submitting an email ID of a person, it will provide you with a mobile number, first name, second name, location, Job title, company size, and even the types of devices they use.
All the information which is furnished by the Clearbit is verified and that data you can use effectively to generate leads.
This software you can integrate with Marketo, Segment, Salesforce, Slack, and Zapior.
In addition to this, you can also connect your present services by using Clearbit API.
Data enrichment tools are not confined to these five tools.
There are plenty of comparable tools in the market which has different features & benefits that you can adapt according to your business needs.
Data enrichment is something like a booster for you to get better insights of your customers and target accordingly to get maximum hit for your efforts.
It helps you in getting complete information of your customer. Even if you have a single data attribute of your customer, you can extract the full information of a customer based on-
- Interest and Similar other factors.
Data enrichment can be performed either manually or automatic process. But, the manual process can’t work in this era, because of the massive amount of data producing every day.
In the market, you have multiple options to select automatic data enrichment tools. Based on the current needs of your business, enrich your database and target the right audience with granular level precision.
The above mention data enrichment tools are just for your reference to exemplify how these data enrichment tools benefit you.
Hope you’re now clear with the concept of data enrichment and how these data enrichment tools can help you in improving your leads with fewer efforts. You can refer to this Martech leader website for more information regarding advanced technologies trending in digital marketing.
Please comment on your experience with us, if you’re already practising data enrichment tools.