Top 3 Data Enrichment Use Cases in B2B Sales and Marketing
In this blog post, you’ll learn about the data enrichment use cases and how you can use the enriched data in today’s data-driven B2B marketing and sales universe.
In this blog post, you’ll learn about the data enrichment use cases and how you could use the enriched data in today’s data-driven B2B marketing and sales universe.
It’s hard to imagine modern B2B marketing teams without a marketing automation platform such as Marketo, Pardot, HubSpot, and others, isn’t it? These days not a single marketer is sending mass emails or nurturing campaigns manually. Thanks to the magical power of marketing automation tools, we don’t have to worry about such things anymore. Much like with the marketing automation tools, the latest trend on the marketing technology (#martech) market is an increased adoption of the data enrichment services and data enrichment tools by B2B marketing and sales operations teams all over the world. While we won’t focus too much in this article on the question of what data enrichment is, since we already covered it in a separate report, we’re going to cover the reasons why data enrichment technology is becoming increasingly popular through the lens of the critical data enrichment use cases.
1. Company data enrichment is a major component of B2B lead scoring models
If your demand generation is generating, on average more than twenty Marketing Qualified Leads (MQLs) per salesperson per day, you’ve likely got some form of the lead scoring model in place. The best B2B lead scoring models take into account not only the behavioral factors, such as the actions performed by leads (free trial registration, pricing request, webinar attendance, etc.) but also firmographic factors (company size, industry, company location). That way, your lead scoring model becomes multi-dimensional, and you can assign different scores based on what a particular lead did and what type of a company this lead represents.
With enriched lead data, lead scoring models become multi-dimensional and more precise
2. Data enrichment is an essential process for event managers
How many times have you been at a trade show where you crushed your lead goal, then came back with thousands of fresh leads and realized that the majority of the leads are missing the company information that is crucial for your sales team? If this sounds familiar, then you’ve probably been dreaming about a bulk lead enrichment tool that would allow you to get the missing company information quickly so you could upload the enriched data to your CRM system right after the show. Well, this exactly the use case that data enrichment tools are capable of solving for you. The leaders in data enrichment technology - MARCOM Robot, and Clearbit both have convenient online portals where the event managers could log in to and enrich their leads. The online data enrichment service portal comes handy when your team hasn’t yet implemented the data enrichment and email validation API into your CRM or marketing automation system.
Data enrichment extends targeting options for lead nurturing programs
The one-fits-all approach to lead nurturing is not the most effective one. More and more organizations make a move to target vertical-based marketing campaigns and nurturing streams. They’re not trying to boil the ocean, though, and they’re focusing on five or ten verticals that have been consistently demonstrating higher average sales price and faster velocity. Obviously, in the vertical-based marketing, the one critical step that defines the success of the entire nurturing stream is clean data. Imagine how “successful” your lead nurturing for the financial sector organizations would be if you mistakenly put a healthcare company through it. With data enrichment, your marketing team eliminates the guesswork and user error when populating the sign-up forms on landing pages, thus increasing the quality of your data and making your nurturing streams more effective.