High-quality data is the fuel that powers effective B2B marketing and sales. But raw data straight from your CRM or marketing database rarely provides the complete picture required to optimize targeting and outreach. Clean and enriched data unlocks smarter segmentation, more accurate analytics, and higher converting campaigns.
This in-depth report from OnTarget Partners explains what data enrichment entails, why it’s a critical activity, and how to fully leverage enrichment for success.
What is B2B Data Enrichment?
Data enrichment is the process of appending additional details to existing customer, lead, contact, and account records in order to enhance their usefulness. It involves adding more context beyond the initial data collected.
Typical data points appended during enrichment include:
- Firmographic details like company location, revenue, headcount, years in business
- Technographic intel such as technologies used, software installed, tech stack insights
- Individual decision-maker demographic info – name, title, contact information, tenure, background. Direct contact information for outreach like phone, email, and LinkedIn profiles.
- Organizational charts, purchasing committees, and buying process insights
With a more robust dataset, you can personalize touchpoints, optimize budget allocation, and implement more targeted initiatives to drive growth.
The Key Benefits of Data Enrichment
- Increased data accuracy reduces errors from decisions based on incomplete or incorrect intel. With reliable data, you mitigate risks from drawing flawed conclusions. We like to say “garbage in, garbage out”.
- Advanced segmentation allows you to tier and target accounts based on attributes like industry, technologies used, buying stage, role, geo-location, and more. More refined segments means more relevant messaging.
- Higher conversion rates stem from tailored outreach campaigns focused on the highest probability targets. Enriched data helps you hyper-focus efforts only on real opportunities.
- Deeper customer insights enable you to engage contacts based on their priorities, pain points, and success criteria. Understand nuances across segments to boost retention and lifetime value.
- Optimized budget allocation focuses spend only on the best-fit accounts and campaigns primed to deliver ROI. Avoid wasting resources chasing irrelevant prospects.
- Competitive edge comes from leveraging intelligence to outmaneuver rivals. Know their strategies, weaknesses, and customer profiles to occupation expansion spaces.
In summary, highly enriched B2B data amplifies the impact of strategic sales, marketing, and account management initiatives.
Best Practices for Impactful Data Enrichment
Follow these steps to maximize the value of your enrichment efforts:
- Audit current data health – Thoroughly inspect your database to pinpoint gaps that may be negatively impacting decisions, performance, or data hygiene. Assess accuracy, completeness, relevance, timeliness.
- Define specific enrichment goals – Determine precisely what details you need appended to existing records in order to answer key questions, fill insight gaps, and meet objectives. Enrichment goals vary across use cases. Clearly identify yours.
- Rigorously vet potential data partners – Assess their expertise in your industry, technical integration capabilities, data sourcing methods, hygiene practices, privacy standards, and more. Not all partners are equal. Choose carefully to avoid issues down the road.
- Prioritize high-value target accounts – Enrich data on your most important prospects and customers first to gain quick wins. Focus enrichment capital where it will have the biggest performance impact.
- Integrate enriched data across systems – Sync updated account, contact, and other records across your CRM, marketing automation platform, analytics tools, and other systems. Consolidate the single source of truth.
- Closely monitor performance lift – Define KPIs and track impact across lead gen, pipeline velocity, deal sizes, retention, lifetime value, and other metrics. Refine based on insights uncovered.
- Maintain ongoing hygiene – Set schedules for continuous data enrichment to keep details current. Consistently replace outdated or incorrect information to preserve quality over time.
The OnTarget Partners Approach
OnTarget cleans and enriches B2B data using both advanced AI tools and manual research conducted by experts. We uncover the buyer details sales and marketing teams need to drive performance.
Let us customize a data enrichment roadmap tailored to your specific business goals. Contact OnTarget Partners today to get started.