What is CRM Record Enrichment?
CRM record enrichment is the process of taking existing customer data from a CRM system and adding more information to it by connecting to external APIs. It allows businesses to identify missing key data points in their records and then automatically fetch additional information from those APIs. This means that businesses do not have to manually research each new record added or perform tedious data entry tasks; instead, they can focus on leveraging this enriched data for more accurate lead and customer segmentation.
Enriched data is a great resource for any organization that can help you acquire meaningful insights, whether it provides an in-depth picture of the behavior of your competitors or a deeper knowledge of your target audience.
Why is CRM Enrichment important?
Data enrichment is a larger technique that includes appending and purifying existing data points as well as linking them to external data sources like as contact lists, social media, and other third-party suppliers.
This technique allows you to bring in granular data and is an efficient way for businesses to supplement their existing data sets and increase the value of the conclusions they derive.
Brands may use the enriched data for a variety of objectives, and there are different methods to do so. One excellent example of data enrichment is supplementing internal sales data with third-party advertisement data to assess advertising performance.
You can be sure to stay on top of any changes in your CRM profiles with frequent data enrichment. When someone on your contact list switches offices or adopts modern technology, the information in the relevant CRM account is updated.
Furthermore, you may create more detailed profiles for each individual contact in your CRM. This allows you to increase your lead score while also increasing client acquisition.
How Can Enrich Data Help My Business?
Enriched data can help businesses in many ways, including but not limited to better target marketing efforts, improved customer segmentation, enhanced sales outreach, faster identification of high-value accounts, improved lead scoring, easier prediction of customer lifetime value, and more accurate reporting. With enriched records in your CRM system, you will be able to quickly identify key leads or customers who may have otherwise been overlooked due to missing or inaccurate data points. And since these records are updated automatically every week on average with 40K+ contacts enriched with 200+ contacts as well as 20K companies enriched with 100+ companies, you will not have to worry about constantly updating them manually!
Benefits of CRM Data Enrichment:
- Customer experience will be improved: Data enrichment in CRM enhances your customers' experience since enriched data is more accurate, allowing you to draw more correct conclusions from your database.
- Improved lead account scoring: Data enrichment in CRM is an excellent technique to automate the entire process of prioritizing prospects in real-time while maintaining correctness.
- Include personalization in lead generation: By making it simple to ask for lead-specific information and increase their outreach efforts, data enrichment enables B2B marketers to go beyond customization.
The Best Tools for CRM Data Enrichment:
Tools for lead enrichment, also known as data enrichment tools, are designed to help you improve the quality of your inbound leads and, eventually, your data.
Here are some useful tools:
- PeopleData Labs
Wrapping up CRM Enrichment in 2023:
CRM record enrichment is an invaluable tool for any business looking to improve its accuracy when it comes to tracking customers and leads. By utilizing external application programming interfaces (APIs), businesses can quickly identify missing key data points in their existing records and then automatically enrich those records with additional information from those APIs. This helps businesses better target marketing efforts and improve their customer segmentation, as well as make better predictions about customer lifetime value.
Would you like to bring out the best in your business? To find out more about how this process can benefit your business, contact us today!
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