We have already described data enrichment and the pivotal role it has in today’s customer-centric marketing. Now we’ll look at eight reasons to use data enrichment – applicable to any demand generation marketer, no matter the business speciality, size of customer base, or type of customer.
1. Recognizing Opportunities for Upselling to Existing Customers
Although much of your marketing strategy will be occupied with lead generation, the huge asset you have in your existing customer base shouldn’t escape you.
Big data assists marketers in determining good potential for upsell within their existing customer base and nurturing them just as they might their own warm leads. Of course, the cleaner your data, the clearer will be the indications that a customer may be open to purchasing more or different products: data enrichment shortens and eases this process considerably.
2. More Efficient Lead Capture
Data enrichment tools help to shorten lead capture forms by retrieving the extra information from third parties as needed in real-time, creating rigorous customer personae. Those personae can then help determine lead quality….
3. Empowering Machine Learning
Artificial intelligence has made a profound impact on the marketing world – and not surprisingly. By applying machine learning to patterns of customer behaviour and leads produced, demand generation marketers can make the customer journey uniquely personal, without demanding huge resources of manpower or finance.
Chatbots have revolutionised data collection: in place of lead capture forms, artificially intelligent machines can ‘talk’ to your customers, collecting the relevant data by processing speech. This in turn can be enriched with businesses’ own data or from third-parties.
4. Computerised Lead Scoring
Data enrichment tools can shortcut the monotony and hard work of this via automatic processes using categorization with real-time data, even adding in missing data to raise those scores.
5. Improved Segmentation
Big data campaigns rely on customer segmentation to be successful, so any improved methods are automatically of interest to demand generation marketers. Enriched data offers segmentation across new lines you previously had no access to – with fresh third-party data or cleansing and combining existing data.
6. Spot The Signs Of Customers Ready To Leave You
You can use enriched data to help retain your customer base in the same way as identifying opportunities for growing your customer base. Customer churn is frequently connected with thier behaviour (i.e. their use of your solution and its value to them). Other influences like demographic and psychological data are often ignored or forgotten by both marketing and sales, which data enrichment can incorporate.
7. Improved Personalization
Personal interactions with your business are desired by each customer ever more – indeed, they’re now almost insisted upon. The customers name in an email template that was once outstanding is replaced today with new levels of personalisation and creativity that enriched data can help add.
8. Great Customer Experience
In short, data enrichment is powerful at enhancing your customers’ experience on their journeys with your business. It enables accurate trend spotting and uncovering of hidden facts within your own data. This in turn improves campaign targeting, enabling you to better find appropriate customers, only making the customer experience still more productive.
New visitors’ data can be enhanced with experience and insights drawn from previous customers to usher them faster along their journey with you.
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