What Are Data Enrichment Services? | Sales Development 101

In the world of sales, you have access to a whole new arsenal of tools today. Technology is making it easier than ever for sales teams to improve their operations, streamline customer databases, and ensure that they have the most relevant, useful information about customers in their hands as possible. There are many services available to assist with that. Even if you do it all yourself, you’ll want to consider adding data enrichment to your list. 

This is a process that allows you to use third-party data to improve your databases and make better decisions about your business and prospecting. Because marketing and prospecting are so valuable to modern business, it makes sense to create stronger, more targeted customer databases. 

The world of technology is changing the way that sales teams today operate. You now have access to piles and piles of digital information, customer data, and other insights to help you create a better target audience and sales strategy. Let’s talk more about what data enrichment is and what it can do for your business. 

Data enrichment services defined

Data enrichment is also known as database enrichment or data appending. It’s the process of using data from a third-party source to enhance your existing customer database, which may only have limited details at the present moment. Brands are using data enrichment to make better decisions about their business. The process involves finding the right third-party source and then using the insights to beef up your database so that you can improve your prospecting. 

Let’s talk more about how the process works and what your business can gain. 

How these services work

When you partner with a third-party vendor to collect more data about your audience, you will want to make sure that you choose a quality provider. Choose one that has a large database of information that doesn’t have duplicates, false details, or other mistakes. This isn’t a simple process of combining data and calling it a day—the information will change over time and the databases should update with the changes. 

This helps you build more complete customer profiles and database entries that will evolve over time just like your customers themselves do. It improves your targeted marketing and streamlines your data collection, and offers a host of other benefits:

• Improved marketing ROI: When you whittle down your database to the best leads and you have the most valuable information available, you’re going to spend a lot less on your marketing efforts. That means you’ll earn a greater return on your investment because your ad placement and messaging are hitting the mark every single time. 
• Better customer experience: This also leads to a better customer experience. When you have a full grasp of the customer needs and how your business can assist with those needs, you will be able to create better relationships and experiences, to improve customer relationships. 
• Better understanding of consumer behavior: Data enrichment can also help you get a better understanding of consumer behavior, your competition, and more. This will uncover valuable insights about your competition and help you make quick, agile changes to stay in the market. 
• Improved AI and automated processes: The depth and breadth of your data are far more valuable than the sophistication of the algorithm in play. When you have sufficient data and more honed, relevant data, you will be able to train AI algorithms better and get more out of automation because you don’t have to physically step in and make adjustments.

When you have a deeper understanding of your customers’ needs, assets, and desires, you will be able to improve your business all around and deliver a better experience for everyone. Plus, most of these services will also validate the existing data that you have to ensure that all entries are correct. It’s a great resource to add to your repertoire of tools. 

How to choose a partner and platform for data enrichment

Of course, a large part of your success with data enrichment is choosing the right partner to work with. Find someone that understands the value of the customer database and that knows how to ensure that you get the best leads possible. 

There are automated platforms and programs that claim to scan and comb your database to find the most insightful data and ensure that your information is correct. Some of these are effective enough, but it’s often better to work with a real person (or team of people) who can handle real-time appending of data for all kinds of business needs. 

Considering that many business deals don’t happen because of bad information or poor lead lists, having a well-defined database can improve your conversions and lead generation, and even make the sales conversation easier because you’re already talking to people that you know have an interest. Having a more complete picture of your customer ensures that you’re going to be able to not only deliver solutions now but continue to provide ongoing solutions for the future as their needs change. 

Understandably, keeping up with all those changes can prove to be daunting. Fortunately, you’re not alone. When you choose the right third-party provider, you’ll be able to trust that everything is handled and your database is as polished as it can be. 

Partner with Smith.ai to improve your lead lists, customer databases, and more

The dedicated team at Smith.ai can assist with all kinds of database and customer data solutions, including providing data enrichment to assist with your sales efforts. Our 24/7 virtual receptionists are available to assist with lead intake and qualification, and we can even integrate with your CRM to streamline all the information. We’ll take care of outbound sales and support, outreach campaigns, and other efforts to hone your customer lists and database. 

If you’re ready to improve your lead prospecting and customer data, schedule a consultation to discuss what Smith.ai can do to assist your business with data enrichment and more. You can also reach us at hello@smith.ai or (650) 727-6484.