- What is Data Enrichment?
- Diverse Sets of Data Enrichment
- Advantages of Data Enrichment
Are you still keeping an overused email database? Then it is the right time to gain sound knowledge about Data Enrichment. Undoubtedly we can say the businesses are relying on new network building and customer retention. The point of keeping an up-to-date email database is increasing; since the market is witnessing high race. Indeed Data Enrichment is requisite in B2B businesses to stay top on the market.
What is Data Enrichment?
Data enrichment is a process of associating publicly available third party data on a prospect or customer with what you already know about them in their present lead or customer record. Through this process, we are increasing the capability of the existing data. In simple term: renovating the current data by adding the latest information about the leads. Moreover, an enriched database captures real-life; it is lively, and it can offer endless insights and opportunities.
Why do you need to enrich the database?
Data enrichment can solve multiple issues that can be faced by B2B marketers:
Segmenting the database would be a great strategy for the leaders to implement now. Based on various attributes such as interest, locality, job titles; the marketers can segment the database. It would assure an organized structure; organized data would nevermore fail to bring a visible change in the result. Enriched data will open enormous opportunities since it will expand the range of customers, and it will empower you to work without putting much effort.
Customized experiences will cater to extra satisfaction among the clients. While we consider "Customization" in a business aspect, gaining customer attention is extremely crucial for expanding brand awareness and brand loyalty. Thus, knowing the customer's pain points, interests, and priorities can let you provide them with personalized experiences. Nothing more you need to do for developing a space on the client's mind; hence, gaining brand loyalty and brand awareness is no longer a burden.
Data compliance and data privacy regulations can be gained through the data enrichment process. Since many countries have strong laws and regulations regarding the storage of data, it has turned mandatory to keep sensitive data with legal and governmental regulations. The data enrichment process would help to make sure that your data driven marketing can generate better results. Periodical enrichment of the database would allow keeping the data legal even if the regulation gets changed in the future.
Diverse Sets of Data Enrichment
Indeed, a thorough knowledge about your customer base is essential before you choose specifications in the data enrichment. A proper understanding of the customer base will let you combine several datasets into one single data enriched reference. Along with it, it would be an exceptional strategy for key contact discover. The combined database has the power to conquer the B2B market. Find the various types of data enrichment:
Demographic Data Enrichment
As the term says, demographic data enrichment requires gaining new demographic data like marital status, income, age, qualification, and other personal information of the client into the existing data. Since data enrichment boosts the personalized experience of the customers, it's vital to gain demographic data to ensure the best. Customer experience is a mandatory aspect of focus this year.
Geographic Data Enrichment
Targeting the audience based location is one of the prime strategies that have to be done by marketers to gain more profits. Customers always search for services that are close by. Geographic data enrichment involves incorporating geographical knowledge such as zip code, postal address, mapping insights, home address, office address, and phone numbers. These data will enable the marketers to target the right audience.
Advantages of Data Enrichment:
Build an effective database. No other marketing tools can bring a crucial change in your sales and revenue; since it appends the missing data or the latest data to your existing database. What else can make your business email lists fresh and up-to-date.? An overused data would be boring for marketers; it will obstruct the sole purpose of marketing. Data enrichment ensures the marketers to keep a segmented database. What else can bring ease and enthusiasm among the marketers? Time is here for marketers and leaders to think critically about data enrichment. Don't get bored with your hackneyed database.