Data Driven Demand Generation
The secret to successful marketing is meeting the needs, wants, and aspirations of potential customers. Marketers often spend time getting to know their leads better and improving their lead conversion rates. It's easier said than done to say what drives sales for a particular customer, whether it's a lack of lead information or too much information. This is where data enrichment comes in to give you a clearer understanding of your lead profile.
Enrichment Data
Basically, leads are potential sales contacts. It can be a person, an institution, or a company. The sole purpose of data enrichment is to investigate how your product or service fits your lead's requirements. Data enrichment is the analytical step before lead generation. When a prospect indicates interest in your offer, This gives you quality and accurate insight into your prospects and leads effectively.
Why Data Enrichment?
Collect, organize, and structure your company's valuable data to enable executives and managers to make better business decisions. Improve accuracy and completeness of data entered into CRM.'s quality and accurate lead database increases sales efficiency and sales conversion rates. Several statistics show the importance of data enrichment.
According to Marketo, a 10% improvement in lead quality can lead to a 40% increase in sales.According to the LeadGenius Report, 5% of customer data expires each month due to turnover.
Data Enrichment and Lead Generation go hand in hand.
Demand Generation As a marketer, we know that the success of your marketing campaigns depends on the quality of your prospect data. Poor data can drive down marketing and sales conversion rates, ultimately leading to unmet revenue expectations. Understanding why data is of poor quality can be difficult because bad data comes in many forms, including duplicate data, incomplete data, fake data, etc. This is where data enrichment comes into play. Data enrichment enables sales and marketing teams to increase conversions and achieve superior ROI. What do you think?
Few marketers practise segmentation to maximise customer potential when working with high-quality data. Data enrichment provides marketers with all the information they need to segment customers into different categories, such as company size, industry, location, and job title. Better segmentation means using targeted content based on your needs and goals to improve your leads and customers' experience.
Prospect Nurture:
As a demand generation marketer, one of the most important tasks in your job is to nurture leads throughout the sales funnel journey. I have some leads that need a little more nurturing to convince me to sell. Data enrichment plays an important role in such scenarios. With finely-enhanced data, you have all the information you need to nurture leads across channels, especially social media. Did you know that 70% of US adults are very active on social media channels?
Lead Scoring:
Lead scoring is possible because the marketing and sales teams work together to educate the marketing team on what the sales team wants in a quality lead. It is time to strive to generate When your sales team seeks qualified leads, they indirectly ask for the contact information of interested leads. That's when data enrichment kicks in to support your marketing team.
Brand reputation
Complete and accurate data shows that customers view your company and brand favourably. Incomplete contact information may filter out prospects who ask for more information. Duplicate emails can frustrate customers and even cause them to unsubscribe from your business.
Demand generation at the top of the funnel is highly dependent on data quality. Data enrichment filters out bad data, filters out useful lead insights, and triggers sales efficiency and effectiveness.