An Introduction to Data Enrichment (And Why B2B Brands Should Care About It)

• admin
• Nov, 22 2021

You have analytics tools and some data… But are they sufficient in helping you make informed strategic decisions?

In many cases, the answer would be a big “no”.

Data-driven marketing is challenging. Having all the quantitative information you require to make effective decisions for optimum ROI is not easy.

This is why many big and small B2B brands work with data enrichment services providers. And that is why you should follow suit. In this blog, we cover the basics of the what’s and how’s of data enrichment. Let’s start!

 

What is Data Enrichment?

Data enrichment entails adding more data from different sources to the existing database. The objective is to create one concentrated source of data that’s of higher quality with more value and action points. You can augment your existing datasets by unifying internal data or use quantitative information from external sources.

This whole process of appending more data to your existing database is called data enrichment.

 

Why Do You Need Data Enrichment?

The consolidated aka enriched data provides you with more insights – accurate insights – that you can use to make better business decisions. Sourcing data especially from third parties or external sources is often necessary because your existing database might be insufficient or the analytics tools you’re using may fail to collate the kind of information you’re actually looking for.

So, at times, when your marketing and sales strategies, or any business strategy for that matter, require more data for effective decision-making, you should subscribe to data enrichment.

 

What Are The Benefits of Data Enrichment?

There are many benefits and use cases of data enrichment.

Overall, the idea is simple: The more accurate data you have, the better decisions you can make. And the more better decisions you make, the better it is for your business growth.

But in case if you’re wondering about its definite benefits, here are some of the broad ones:

 

1. The process of data enrichment helps you collect high-value data. And the time we live in now when “big data” is everything, this is the foundational benefit of everything that follows next.

 

2. It helps you personalize your communication with the target audience. A tailored approach with customers or clients increases the chances of conversion and retention.

 

3. It bolsters your lead generation campaign. You get key data points to optimize your lead generation efforts, thereby achieving higher conversion and lower Cost Per Lead (CPL). It also helps in lead nurturing. There’s a reason, after all, why top B2B lead generation companies also have extensive data enrichment capabilities. So, if you’re saying “find me leads”, investing in data enrichment can unlock great results.

 

4. It saves you time and money. Instead of deploying a generic marketing and sales strategy, you create much more personalized campaigns. This optimizes the funnel, leading to quicker conversion. It also results in lower Customer Acquisition Cost (CAC).

 

5. Data enrichment leads to meaningful customer relationships. This, in turn, results in longer customer lifetime value (CLTV), higher brand loyalty, and better brand positioning.

 

Where to Get Data From?

Working with a reputed data enrichment services provider is a great option and also highly recommended. This is what many top B2B brands do. It is cost-effective and also promises to equip you with a consolidated database that’s accurate, refined, and meaningful to your marketing and sales goals.

DAT-A-CCURATE™, one of the top lead generation companies in USA, offers data enrichment services. We have helped many B2B brands to date, enabling their sales achievements. We rely on a diverse range of practices and methodologies to gather data, including interviewing the target audience. Our team of experts specializes in data analytics and different verticals.

Let’s join hands today, tap on our data enrichment services, and give your business the opportunities it needs to grow (and dominate). Book an appointment today and let’s talk.