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Is only the contact details enough to convert a lead? Your CRM might have a large sum of data but it actually won't perform much if you ignore CRM data enrichment. Yes, enriching CRM data can only provide you with marketing success and convert prospects into customers.
Everything you must know about your prospect before offering them your products. Only then you can sell your products. Basic CRM data does not contain any specific prospect-related information. So you need to enrich it using specialized techniques and methods.
Let's discuss everything about CRM enrichment including methods, techniques, and benefits in this comprehensive blog.
About Advanced CRM Data Enrichment
Like other enrichment processes, CRM enrichment updates the existing database and adds new data points. Enriching CRM data lets you go deeper level to develop close relationships with your prospects. It helps businesses develop a robust sales strategy and improve marketing performance.
For example, you shared a web form and collected information directly from your targeted audience. Besides the web form, you can get data from sign-ups. However, both web forms and signups can only provide you with names and email addresses. You need to walk the extra mile to add additional data points in order to convert the audience.
So, here you have two options to get more data from your targeted prospects, these are;
- 1
Asking for data directly from the prospects in the web form itself
- 2
Using CRM internal data enrichment process to get all the data
The first plan actually does not make any sense as people are hesitant to share extra information. Further, adding excessive fields to the web form might put off your prospect, so might even fill it up.
Taking risks while collecting data is not an appropriate action when you have an amazing alternative option. Utilize CRM data enrichment to get additional data points into your existing data without putting your prospects under pressure.
The digital world is big and thus you can dig deep to get any type of information regarding your prospect. From knowing the age to the preference for food, you can get anything if you want to. However, data rules also in place restrict data exploration. Good to know that GDPR supports data enrichment practices as it does not violate the terms.
Information you can get from CRM enrichment
Various sets of information you can get from typical data enrichment. Generally, companies ask to get the following data when they enrich CRM.
- Demographic Data (Age, gender, region, ethnicity, etc)
- Contact Information (email, phone number, social account IDs, etc)
- Behavioral Data (frequent searches, website visits, downloads, content consumption details, etc)
- Technological Information (Used apps, software, etc)
Once you get all the details, you can uplevel your sales game and convert more prospects into customers. From sending newsletters to pitching sales, these new data points will boost your marketing journey to reach the next level.
Benefits of CRM Data Enrichment
The core motto behind data enrichment in CRM is to improve the customer experience. Having more data helps frame more personalized offers. Thus, it leads to more conversion because it would deliver customers with a more personalized experience.
Customers only respond promptly when brands offer them personalized experiences. Majorly, customers want brands to understand their unique needs and expectations. Personalized offers attract them the most and they purchase from brands that offer them that.
Therefore, as a brand, if you have to offer some personal offers to your customers then you need more data. CRM data enrichment allows you to deliver more data. Therefore, you can frame personalized marketing strategies accordingly. That's not the end, it's just the beginning. Let's see how it benefits your marketing strategies overall.
Accurate Lead Management
After enrichment, you can discover hidden stuff like prospects' behavioral patterns, their commercial intent, and their genuine buying interests. Therefore, you can prioritize your prospect list according to higher convertibility. It can help you hit your target faster and manage your leads in the proper ways.
Reduce Costs
Quality enhancement is a critical need for any organization, otherwise, it leads to poor results and data loss. Globally, there are millions of dollars are getting wasted due to bad records. CRM enrichment can help you in preventing data loss. Overall, you target a better audience and gain more leads from them.
How to Enhrich CRM Data
In data analytics, there are numerous ways one can enrich CRM data. We are talking here about marketing and business strategies so let's consider CRM enrichment for business data. Therefore, the strategy to enrich CRM data must align with the business goals and the aim should be how brands get the most benefit from it.
I. Set Clear Criteria
Clear-cut criteria must be in place before you start the CRM data enrichment process. Criteria help measure the achievements and evaluate the goals. Setting criteria is not a tough matter, it needs to be simple and achievable.
For example, if you have your prospects' names but incomplete email addresses then the criteria should be adding 95% accuracy to the email list. Following a fixed target bears the best results always.
II. Take Repetitive Steps
Mark every step you make during the journey for further learning. CRM enrichment is typically a repetitive job and you and you have to continue it over time. Taking notes of the process always saves you time and effort. If you want some professionals to do all the tasks then you can outsource data enrichment services for the best results.
III. Scale Your Efforts
With time, you'll have more data and different metrics to frame your sales strategies. So, you need to be flexible enough to scale your work and do the best of your CRM data. You can take the help of software also if needed, otherwise, outsourcing is the best option if you need to scale up your enrichment needs.
IV. Keep it in the Loop
CRM data enrichment is a continuous process and it must be there always if you want to boost your marketing performance. It's better to appoint dedicated and skilled people for this task.
