Data enrichment is a fundamental process for any organization that gathers first-party customer data. While the majority of consumer data is collected through forms, it is important to recognize that not all individuals will provide accurate information. The growing prevalence of spam communications, such as phone calls and emails, often leads individuals to either withhold or falsify their information when completing forms. Data enrichment is vital for ensuring data quality by addressing the gaps that may be present in the information provided.

The data enrichment process:

One of the most effective strategies for conducting the data enrichment process is to incorporate it within your CRM system. Tools for real-time data enrichment, like A1 database Data Activation Platform, can be integrated into your CRM through native integration or API, facilitating the automation of the data enrichment process.

The automated data enrichment workflow is structured as follows:

When a contact, lead, or account is added to your CRM, A1 database automatically enriches the raw data by sourcing over 100 data attributes to complete the profile of the contact, lead, or account.

Data enrichment can increase form conversions

 B2B brands experience an average form conversion rate of approximately 2%. Forms continue to be the most effective means of collecting lead information, such as email addresses, names, and phone numbers, enabling marketers to assess the compatibility of a lead with their ideal customer profile. Regrettably, many individuals are increasingly resistant to completing forms, often resulting in the submission of false information or the decision to forgo the process altogether.

Data Enrichment Best Practices:

In a highly competitive business environment, possessing the appropriate marketing data is essential for elevating an organization to new heights. Although an organization may have access to a wealth of customer and prospect information, challenges arise when determining which datasets to prioritize, retain, utilize, or trust. This is where data enrichment plays a vital role.

Data enrichment is a fundamental aspect of data management, enabling the integration of new information into existing records to enhance their accuracy and overall value. It involves the amalgamation of various data from external sources to generate actionable datasets that facilitate improved business decision-making. Beyond rectifying basic inaccuracies such as spelling errors and typographical mistakes, data enrichment also eliminates duplicate and outdated entries while validating current contact information.

Once the records are cleansed and confirmed, the subsequent task of appending missing or incomplete data, addressing necessary gaps, and augmenting records with available data attributes becomes paramount. In the present day, email stands out as the quickest and most cost-effective marketing channel, prompting many organizations to utilize it for reaching potential clients.

If you regularly rely on custom databases to engage with your customers, it is crucial to ensure that these databases are consistently updated with the most current information. Any shortcomings in this area can adversely affect your outreach efforts and, consequently, diminish conversion opportunities. Data enrichment provides a viable solution to navigate these challenges.