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B2B Data Enrichment — Tools and Best Practices

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Your business success starts with your data quality. This is especially true when it comes to data for sales and marketing. Regardless of how good your products and services are, how talented your sales and marketing teams might be, or how much budget you allocate toward customer acquisition, you’ll be less successful if you’re starting with data that is incomplete or outdated.

To put your business and your prospecting efforts on the right path, you need consistent, reliable B2B data enrichment to ensure that you have the best information to target the most qualified leads with speed, clarity, and confidence.

What is B2B Data Enrichment?

You likely have a lot of customer data (or company data). But do you know exactly where the data derives from, or how up-to-date it is? That’s where B2B data enrichment comes in.

Also known as data appending, B2B data enrichment is using external, third-party data to improve the customer information that you already have. This includes not only firmographic data and data points about companies you’re targeting (such as industry, location, revenue, and contact information), but also personal contact data about employees who can serve as your contacts (such as job title, phone number, email address, department, decision-making ability, and social media accounts).

No matter how conscientious you have been in acquiring and curating your existing data, you can still have entries that are:

  • Missing critical details about a prospect
  • Full of irrelevant details you don’t need
  • Inconsistent across your entire company, depending on where they came from and who entered them
  • Outdated, based on when they were last used or evaluated

B2B data enrichment fills in these gaps, updating your ideal customer profile data with the accurate, relevant information you need to properly evaluate business prospects and make more informed decisions.

Benefits of B2B Data Enrichment

When you prioritize data enrichment, your business sees many tangible benefits, especially on the lead generation and customer experience front.

More targeted outreach

When you’re working with more complete, detailed, up-to-date information, you can better define your ideal customer profile (ICP) and target prospects with actual buyer intent more directly with your sales outreach and marketing campaigns.

More efficient performance

Save time, effort, and money across your entire enterprise by enriching your data. Your marketing and sales teams don’t have to spend precious hours trying to score dead or incomplete leads, and you don’t have to invest money on outreach for prospects who either don’t fit your targeted profile or aren’t ready to buy.

A more successful sales funnel

The more you know about your prospects, the better you can tailor your approach and create a relevant sales pitch that really connects. By providing a better experience for would-be customers, you can increase your engagement and your conversion rates.

A competitive advantage

You and your competition are likely going after the same business prospects. The company that has the best small business database and works with the most powerful, accurate data sources and insights is the one that has a distinct advantage over the competition, and has a better opportunity at converting those prospects into customers.

Smarter business decisions

Remove the guesswork from your day-to-day operations. When you base your business on better data, you can make more informed decisions, whether you’re prospecting for new customers or even revisiting the services you’re providing to existing customers.

B2B Data Enrichment Tools & Best Practices

To make the most of your B2B data enrichment initiatives, you should follow these best practices:

  • Define your goals: Like any business initiative, clearly define up front what you want to achieve, the data you need to enrich, your goals, your KPIs for success, and your process for getting there.
  • Evaluate your current data set: Find out where the gaps in your current data fields are. Maybe you need to fill in missing customer criteria like contact details, update out-of-date information, or just set specific targets for data accuracy within your CRM.
  • Plan for ongoing enrichment: B2B data enrichment isn’t a one-time project—it should be a routine part of your business that you continuously plan and budget for, the same as you would any other part of your sales and marketing efforts.
  • Create a repeatable, scalable process: As part of your ongoing data enrichment efforts, the process you choose should be scalable across your entire organization and simple enough that it can be repeated easily at regular intervals.

B2B data enrichment can be done manually. However, because that is a major time and resource commitment, many organizations opt for a variety of enrichment tools and software plug-ins to help streamline the process. For example, some tools can integrate with platforms like LinkedIn and Gmail to easily mobilize your teams’ research and outreach efforts.

There are also a number of data enrichment services that companies can partner with to elevate their data sources even more, often done automatically without any extra effort needed on your end.

As with any sourcing decision, you should evaluate any potential data enrichment tool or service to ensure that it:

  • Provides the quality data you need
  • Works with your budget, staff, and workflows
  • Aligns with both your present and future enrichment goals

B2B Data Enrichment to Boost Your Business

Ultimately, B2B data enrichment is about making sure that your sales and marketing teams are using the best possible data sources when working with a target audience for customer acquisition. For companies that are interested in having the highest-quality data to make their prospecting decisions, Data as a service (DaaS) providers like Enigma are a powerful option.

Using our proprietary blend of online, offline, public, private, and third-party data (powered by machine learning), Enigma provides a complete picture of any small and medium business. We consider everything from government filings to social media posts to assemble the type of actionable data you need to make informed decisions, including business identity, transaction, revenue, profitability, and risk factor data, so you can better identify and target your prospects.

Search and sort by custom lists, find new prospects, and re-evaluate existing prospects—quickly and efficiently, with APIs and generated reports that integrate into your current systems and workflows, so you don’t have to overhaul your processes and personnel.

If you want to learn more about Enigma, our data, and the ways we can help your B2B sales cycle, sign up for your free demo today.

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