We all know today practically everything pretty much depends on data directly or indirectly. The same goes with marketing sectors and maybe even you have been making data based decisions. It is safe to say that being successful in some fields requires more dependence on data than others. If you have data quality to nurture leads, you already have half your homework completed. More the data quality more is the profit. How? The answer is Lead enrichment! Lead enrichment enables us to work towards improving leads and the data correctness also. Whom to contact, based on their roles and position, company are all parts of lead enrichment.
On the other hand, there is also the problem of bad data. It might not be possible to detect whether the data is bad or not. Data enrichment takes the stage here.
Lead Enrichment has a very positive impact on lead generation. Let’s discuss in a bit more detail below:
The Impact of Enrichment on Lead Generation:
Very few marketers use segmentation to its full extent today. While some may be using it already but not in the way it can be. In fact, the point here is its full potential can be explored when combined with data. On using data to support your segmentation- which after all is what the segmentation is used for- leads to better productivity. Using elements like location, job profile, company name, and so on can lead to better segmentation. This also lead to better content delivery for leads and customers alike and more revenue generated.
2. Lead Scoring:
Using lead scoring as a collaborative activity can prove highly beneficial for the sales and marketing teams. Being able to know the best leads to follow or act upon can help all the teams in saving time searching for the best. Additionally, lead scoring and lead grading should be done for this purpose only. Lead enrichment can be done after lead scoring based on what is the demographics and position of the lead.
3. Lead Nurturing:
Nurturing leads is an activity that should be followed throughout the entire marketing cycle. Since customer only trust a company based on certain factors, it is essential to know those factors. Using this knowledge lead nurturing can also be done via lead enrichment. Using already enriched data, you can already have everything in your arsenal to use across any platform. Social media lead nurturing is one of the easiest way across all the options available.
4. Brand Reputation:
Using appropriate and valid date gives a big boost to your company. How? In terms of customer opinion. Using data that is not enriched, corrected and treated properly can lead to duplicate emails and calls. This means UN-subscription rates going up and eventual fall of your lead numbers as well.
The purpose of lead enrichment is to improve conversions to be straightforward. By improving initial conversions at each step it can help in boosting every step of the marketing cycle. Using data enrichment is the all-round help you are ever going to need for your data related woes. It is not just data filling or data correctness. It starts all the way from customer forms and goes till data demographics and validation. Using lead enrichment software can help in shortening customer forms and therefore help in more focus on customer numbers that data. This gives a much needed boost to your pipeline and definitely the company revenue.
The Impact of Lead Enrichment on Sales Prospecting:
As lead enrichment not only helps with marketing, it also has a positive impact on sales prospecting practices.
Prioritization refers to selectively contacting leads based on several criteria. Sales reps that lose out on quality leads randomly pick out leads to contact without any planning. Instead, sales reps who plan out their strategy of contacting and prospecting for the day get much higher conversions. Using segmentation can also help the prospecting stage if lead enrichment has been done properly on the data. Using such practices that leverage the power of data that has been enriched can help any team or company achieve great results.
2. Contact Information:
The sales prospecting simply would not exist if there isn’t any information to begin with. If sales reps do not have any way of contacting leads, the sales prospecting ‘session’ is pure imagination. Using just a contact number is not done anymore. It is important to have other means of reaching out to prospects. It is important for sales reps to have multiple open channels of reaching out like social media platforms. Channels like social media and email play a vital role in the marketing cycle. To ignore these is to intentionally skip on the opportunities for improvement.
Poor data also causes problems as well as no data does. If you have to utilize data, make sure it is correct, because if not it can do more harm than good. Lead enrichment can combat this problem by fixing all the problems with data. Imagine it like a specialist looking at your system and fixing it before it is ready to go. You wouldn’t want your system or product to be faulty and launched to the public. The same applies to data. Doing proper lead enrichment on your data definitely brings out the best of the best. Additionally, it can also help you correct any errors in the data. If the company is contacting people based on ‘bad’ data, it will only hamper the company image and thus the profits.
These are few of the reason to love lead enrichment. There is so much you can do with the technique and to ignore it is also disastrous. We love lead enrichment as all the processes like segmentation, personalization, email marketing, social media marketing are dependent on it. In some way or the other good and bad data makes a huge difference to your company and lead enrichment is the savior.