Companies/businesses with detailed customer information can survive today’s competitive data-driven world. Extracting the information from the available data is a complicated process. Hence, several tools and services are available in the market that enriches these data and provide the information that helps companies target their potential customers with a personalized marketing campaign.
The process of merging and adding either first-party or third-party data to a dataset you’re already working with is known as Data Enrichment.
Lead scoring is an excellent example of data enrichment. Let’s say you want to track the evolution of a user’s lead score over time. You can see how a user’s pattern of behavior changes in real-time as their lead score changes thanks to data enrichment.
This blog post talks about various aspects of Data Enrichment Services and it also looks at the leading Data Enrichment tools available in the market.
What is Data Enrichment?
It’s not uncommon in large companies with multiple disparate systems and fragmented data to supplement information from one source with data from another. This is especially common during data migration when customer data is fragmented across multiple systems and data from one system is combined with data from another to create a more complete data record in the MDM repository.
Data Enrichment refers to extracting the additional information from the collected data to relevant context obtained from additional sources. The information can be a username, department, roles, etc. If a username is discovered in an application log, it can be checked against a central IAM system (or an ICS application if Application Security is used) to obtain the user’s real name, departmental roles, privileges, and so on. This added context “enriches” the original log.
The additional information extracted from the data makes leads more valuable. For example, if in extracted data, you found the email of the user, which you can use to create a highly personalized email campaign that users can find helpful.
Along with the email, you can also find some other information like:
- Geography: country, city, time zone
- Demographics: age, gender, income, education
- Behavior: requirements, desires, aches and pains, and preferred modes of communication
- Professional data: company size, job position, business niche
The Data Enrichment process also contains the Data Cleansing process, which cleans the data, such as email validation/verification. Email Verification helps remove invalid, mistyped, and abandoned emails to reduce the bounce rate and improve email deliverability.
Data enrichment improves the utility of this raw data. Brands gain a better understanding of their customers’ lives by incorporating data from a third party. The enriched data results in richer and more detailed, allowing brands to personalize their messaging more easily because they know more about their customers.
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Key Benefits of Data Enrichment
Data Enrichment is useful for marketing and sales. Some of the benefits of Data Enrichment are as follows:
- Accurate Data: Data Enrichment cleans up the data by removing the junk values and validating them against standard values. It provides clean and compelling data that can be highly useful for marketing campaigns and improving sales. Several tools are available in the market that performs enhancement on the data. You will see some of that tool later in the section.
- Improved Lead Scoring and Segmentation: As it says in marketing, “The more you know about your customer, the more accurate your lead targeting and scoring will be.”The Data Enrichment provides essential data that can be used to improve the lead scoring and create a market segmentation. To improve the lead scoring, you need the data such as location, demographics, search patterns, etc. Data Enrichment provides this information by digging into the vast ocean of data and helps to build an effective market campaign.
- Improved Personalization and Targeting: Data Enrichment provides personalized information like emails, behavior patterns, locations, and many more, allowing marketing companies to create personalized marketing campaigns per individual. This helps to communicate with the lead successfully and delivers something of value in this highly competitive environment.
- Better Nurturing: Having more information about your customer can help you focus on what customer needs and their pain points. Data Enrichment provides enough information to help you build an effective leadership strategy to reach out to your customer at a faster rate.
- Increased Sales: Customized and personalized marketing increases your sales and, therefore, higher ROI. Everything is connected as enriched data leads to better personalization, and personalized outreach leads to better KPI, sales, and higher ROI.
What are Data Enrichment Services?
Processes that improve marketing databases are known as Data Enrichment Services. They assist you in obtaining accurate leads by removing outdated and incorrect data, as well as other errors. To put it another way, Data Enrichment Services improves the quality of your database, making it more useful for marketing campaigns.
Because it solves long-standing challenges in illuminating missing knowledge about current customers and identifying new audiences who are likely to become high-value customers, marketing is one of the most common and lucrative applications of Data Enrichment. This enables targeted campaigns to be more precise and effective.
What are Data Enrichment Tools?
Data Enrichment Tools are a part of Data Enrichment Services. They enrich the data from a pool of data and take data from different sources and merge them into a single stream of data which can then be used for detailed analysis.
It often merges the party data received directly from contacts or third-party platforms on their platform.
Data Enrichment Tools are crucial as the Data is typically spread out amongst various platforms, and it isn’t easy to sync it all up correctly. You can easily track a customer who sees an ad on any social platform and clicks on it and buys the product, but other customers click on an ad and visit the website but don’t purchase anything. You need to target such customers with a more personalized email campaign.
The Data Enrichment tool gives you an accurate look at what’s happening with customers and how these data are linked together. It also gives you much more detailed and accurate information that your team can act on immediately.
Choosing the Right Data Enrichment Tool
Choosing a Data Enrichment tool is a complicated process. You need to look around various aspects, including the type of data, data sources, what information you’re looking to extract, etc. It gets tricky when dealing with a huge volume of data sources. Below are a few pointers which you can implement when choosing a Data Enrichment tool for your organization:
- Establish your Data Enrichment Goal: The first thing you need to keep in mind is the end goal after enriching the data. In general, the overall goal is to improve the quality of the data and its accuracy. But that’s not enough; you need to consider what information you need to extract from the Data Enrichment tool or what information the business needs to boost sales and ROI. The Data extracted should be relevant to your business and be able to draw insights from the users. Also, when deciding to enrich the data, you need to consider the logic that needs to be applied while enriching. Whether the Data is real-time or batch, enriching the data in real-time can provide more insights and allow you to act with customers in real-time, which can help you improve your sales. Upon enrichment, you can connect with your customer in real-time by providing offers, alternatives, etc. For example, if you’re enriching a customer’s data about a specific purchase. Real-time enrichment will provide information such as customer location, date-time, interests, etc.
- Use Data Enrichment Tools to Prepare your Data: Once you have decided on the goal of data enrichment, you can now use data enrichment tools to enrich your Data effectively. The highly enriched data provides high-quality data, which can help you to connect with your customers effectively. Data enrichment tools not only collect, organize, and cleanse data, but also format it in a format that is useful to your business. It is common for companies to use more than one tool when enriching data since each tool has its focus on the enrichment process. The following are some of the best Data Enrichment tools:
- Leadspace
- Beam Enrich (as part of a data flow on the Google Cloud Platform)
- LeadGenius
- MaxMind (IP to city/country mapping)
- Clearbit (IP to company name mapping)
- Keep Data Up to Date: Data Enrichment is a continuous process to ensure that your business keeps on accumulating data and is being enriched to improve sales. As a result, it’s critical to keep your data up to date and enrich it regularly, whether in real-time or in your data warehouse. If Data is not kept up to date, data will naturally decay and lose its value to the point where it becomes worthless to your organization to collect.
Top 7 Data Enrichment Tools
Now that you have a basic understanding of what factors to keep in mind while choosing a Data Enrichment tool, here is the list of the top seven enrichment tools for you to decide on:
1. Clearbit
Clearbit is one of the popular Data enrichment Services designed for sales and marketing people. It seamlessly connects with the sales automation tools like Salesforce, HubSpot, etc., for better lead targeting. It also integrates with communication tools like Slack and Zapier to build custom workflow and notifications.
Clearbit automatically refreshes the data from the source every 30 days to keep the data up to date from CRM. The changes in the CRM tool will reflect in the Clearbit, which then helps you to enrich the data and gather updated insights about the customer.
Pricing: Clearbit has custom pricing based on the requirement. More information on Clearbit’s packages and pricing can be found here.
2. Zoominfo
Zoominfo is one of the leading Business-to-Business contact database platforms and provides excellent Data Enrichment Services support.
Zoominfo can link CRM tools like Salesforce and then enrich your contact’s data in your CRM tool.
ZoomInfo enriches the contacts and provides information such as Job Titles, Emails, Phone numbers, locations, transactions, revenue, etc.
With the help of the above-extracted information, you can now build a personalized, targeted marketing campaign to outreach your customer.
ZoomInfo constantly updates its database and adds new contact details to always be up to date with the change. Currently, it has 4.5M contacts and over 100M verified email addresses.
Pricing: Zoominfo has custom-based pricing depending on the services you choose. To learn more about different packages and pricing, click on their official pricing page here.
3. FullContact
FullContact is one of the Data Enrichment services that helps you extract relevant information from the Data on marketing contacts. FullContact integrates with an email address, social profiles, and CRM and helps you find the contact details of any prospect you’re looking for. It allows you to download the information in CSV format, and then you can upload the details to any CRM tool.
FullContact has a unique feature of scanning business cards. So if you have any business card from your customer, you can scan them using the FullContact app, and it will create a profile and provides all the information you need for conversations.
Pricing: FullContact pricing is based on the requirements. Head over to their official page to know more about FullContact.
4. Crunchbase Enterprise
Crunchbase is one of the leading Data Enrichment Services that allows you to use the Crunchbase database to enrich your CRM data. Crunchbase is ideal for startup companies because it has a vast directory of contact that allows you to enrich your data in CRM and then later connect with the customers with the information acquired.
Pricing: Pricing for the Crunchbase is based on the custom requirements. It has various segments like basic, starter, pro, and enterprise. More information on pricing can be found here.
5. InsideView Enrich
InsideView Lead Enrichment tool enriches your basic leads information like name, company, email, etc., into detailed contact profiles that you can utilize to reach out to your customers.
InsideView Enrich can easily integrate with Salesforce, and you can access the company and contact records directly from Salesforce.
InsideView will also enrich your records with the latest company news and even an organizational chart to see if other team members have interacted with people at the target account before.
Pricing: InsideView Lead Enrichment pricing starts at 6000 Dollars, and more information on Clearbit’s packages and pricing can be found here.
6. Datanyze
Datanyze is a leading Business-to-Business contact data and enrichment tool that enriches the contact data, which then helps you to improve your sales and create personalized marketing.
One of the unique features of Datanyze is its ‘icebreaker’ functionality. When you’re working on a potential lead, Datanyze can enrich their profile and suggest an icebreaker that you can use on email subjects and in the opening lines.
Datanyze is also capable of integrating with another CRM tool to enrich the data.
Pricing: Datanzye starts with a no-cost 90 days free trial for the users and has high-scaled plans such as Nyze Pro1 and Nyze Pro 2. More information on Clearbit’s packages and pricing can be found here.
7. BuiltWith
Prospect profiles can be enriched with information about their software stack using a technographic data platform.
BuiltWith is one of the leading Data Enrichment Services which provides technographic data. Technographic data contains comprehensive details about the software your customer is using and their demographic information.
BuiltWith is useful when your business is trying to sell products based on the Software/technologies your leads are using. For example, if your lead uses WordPress a lot, you can offer the services on WordPress or recommend other software.
BuiltWith has a vast database with over 58K technologies available to search.
Pricing: BuiltWith has three pricing models: Basic, Pro, and Team. The basic plan starts at 295 dollars.
Conclusion
This blog discusses Data Enrichment Services and what factors to consider while selecting the Data Enrichment Tools. In addition to that, it also explains the leading 7 Data Enrichment tools that can help you enrich the variety of your Data, which can help improve sales and create personalized marketing campaigns.
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FAQs
1. What industries benefit from data enrichment?
Inductively, those industries including marketing, sales, finance, and e-commerce use it for better targeting and analysis.
2. Can small businesses use data enrichment services?
Yes, many tools offer scalable pricing and features tailored for small businesses.
3. What features should I look for in a data enrichment tool?
Look for automation, integration options, data accuracy, and industry-specific features.
Vishal Agarwal is a Data Engineer with 10+ years of experience in the data field. He has designed scalable and efficient data solutions, and his expertise lies in AWS, Azure, Spark, GCP, SQL, Python, and other related technologies. By combining his passion for writing and the knowledge he has acquired over the years, he wishes to help data practitioners solve the day-to-day challenges they face in data engineering. In his article, Vishal applies his analytical thinking and problem-solving approaches to untangle the intricacies of data integration and analysis.
