While there’s always room for a little art of marketing in your go-to-market plays, make no mistake: actionable data is what fuels your revenue engine. The better your data, the better equipped you are to personalize, segment, and automate, and those three critical factors maximize engagement with customers deep into their digital-first buying journeys.
Better data empowers you to reach your growth objectives more efficiently. In doing so, you free up scarce marketing resources to drive additional scale.
With the importance of data on the rise, data enrichment solutions have become an important consideration to maximize your revenue team’s data. There are a variety of data enrichment solutions on AppExchange that can help power your RevTech stack and improve your revenue orchestration processes.
What is Data Enrichment?
Data enrichment is the process of expanding upon and/or enhancing your collected contact data with relevant contextual data obtained from additional sources. Typically, B2B data enrichment solutions augment individual contact data with additional information at the contact, account, and/or company level.
Enriching contact data is generally performed in two ways. First, it can be done manually, a time-consuming method that too often takes resources away from selling. The second method is through the implementation of an automated data enrichment solution.
What are the Benefits of Data Enrichment?
Data enrichment delivers an immediate impact on your revenue orchestration efforts.
First, data enrichment completes the data sets you have acquired from your various lead sources, like web forms, event registrations, and trade show booth visits. With data enrichment painting a complete portrait of your prospect, you’re empowered to prioritize engagement and the allocation of resources as appropriate.
In addition, data enrichment improves your lead qualification. Behaviors greatly influence your lead scoring, but they shouldn’t be acted upon in isolation of other data points. Enriched data delivers to you the context necessary to not only determine if the account falls within your ideal customer profile (ICP), but also if your lead is the best contact with whom to engage. Your revenue team cannot run efficiently when its time is misallocated to engage the wrong leads who are sending all the right signals, but are at all the wrong accounts.
Not to be overlooked, data enrichment allows you to have shorter forms at your lead sources. We all know that the longer the form, the less likely it converts. With all the difficulty — and expense — around getting customers to your digital properties in the first place, don’t risk losing their conversion at the point of contact information.
Finally, data enrichment facilitates a smoother lead handoff from your marketing team to your sales team. Enriched data allows operations — RevOps, marketing ops and sales ops — to properly route and prioritize leads. With all the contextual information associated with the lead, outreach can be conducted in a more customizable and personalized manner.
As leads enter your processes, ensure they’re correctly matched to the proper account, particularly if they are part of a complex enterprise with multiple business units. Then, enrich before routing and assigning.
Sourcing the Best B2B Data Enrichment Solution for You
When sourcing an automated data enrichment solution provider, your first concern should be key fields that routinely remain empty and devoid of data. Your lead scoring and routing processes are dependent on those key fields, and empty fields break your entire revenue orchestration process.
In addition to blank data fields, also look for static and outdated data. Static data won’t change after it has been sourced, and therefore it’s susceptible to becoming obsolete. Conversely, dynamic data sources are continually updated to reflect the most recent information available.
Once your data is complete and accurate, you can then confidently progress with your engagement tactics.
The Better the Data, the Better the Prospect Experience
The better your data, the better your revenue orchestration processes perform. Ultimately, the better your revenue orchestration, the better your prospect experience, and that’s a powerful differentiator in today’s digital-first buying journeys.
Data fuels your RevTech stack, which, in turn is the engine propelling your GTM motions forward. Boost the potency of your fuel with data enrichment, then manage your revenue orchestration processes to get the right data to the right revenue team member at the right time.
If you’re ready to start enriching your data, check out solutions available on AppExchange today.
About the writer: Ray Hartjen is the Head of Content Strategy at LeanData, a SaaS provider of native Salesforce applications and an industry leader in the lead-to-account matching and routing space. Connect with Ray on Twitter, LinkedIn, & Trailblazer.
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