The landscape of data enrichment providers is vast. These companies are dedicated to enhancing your records with detailed and impactful data, which allows for effective segmentation, scoring, and personalization of outreach, ultimately leading to improved sales outcomes.
The critical question is: how do you choose the right data enrichment provider from the numerous options available? You have found the right resource to assist you in this decision-making process.
Key elements in the selection process for a data enrichment provider
When determining which B2B data enrichment company to partner with, it is vital to keep several considerations in mind. The following points outline what you should assess.
Accuracy
The hallmark of accurate data is its up-to-date nature and factual correctness. During the prospecting phase, you are likely to encounter a multitude of names and email addresses. Enriching this data can help confirm its accuracy and provide additional information, such as details about the company, which can be crucial for evaluating its usefulness. Quality enriched data is sourced from a database that is regularly refreshed, ensuring that you receive specific contact information rather than a general phone number or an “info@” email address.
Scalability
As a company grows its campaigns or expands overall, sales databases naturally increase in size. Consequently, it is essential to utilize a scalable data enrichment service that can deliver comprehensive information about a vast array of potential customers, beyond mere contact details. It is important to note that not all B2B data providers offer the capability for bulk or scaled enrichment. Therefore, if this feature is crucial for your needs, ensure that you select a provider that excels in this area.
Compliance
Regulations concerning privacy, including the GDPR, govern the handling and storage of personal data belonging to individuals. Since data enrichment includes information about specific persons, it is imperative to ascertain that your systems do not violate these regulations. Many companies engaged in data enrichment may claim compliance, yet it is your responsibility to comprehend what this entails and how it pertains to your circumstances. Are they able to provide evidence of their compliance, or is it simply a self-assertion? The outcome of this inquiry may have serious implications for your legal situation.
Integration capabilities
How does the enrichment platform integrate and interact with the other technologies present in your sales stack? What level of ease can be expected when transferring actual data from the enrichment platform to your CRM? It is advisable to look for vendors that provide CRM enrichment capabilities and have a comprehensive range of integrations, particularly those made possible by a data enrichment API.
Cost
While we will delve deeper into the topic of costs later, it is essential to recognize that the factors mentioned above, especially accuracy, will affect pricing. If a data enrichment firm delivers thousands of leads and imposes a charge for them, but you can only connect with a small percentage, this suggests a problem. To determine the reliability of the information from a data provider, consider analysing the sales team’s performance through metrics like connect rates for phone calls and bounce rates for emails.
