5 Benefits of Data Enrichment to Boost Your Sales

Data enrichment is the method of integrating domestic first-party data with different data from other internal systems or external third-party data. Enriched data is a valuable commodity because it is more useful and informative for every organization. A majority of brands perform data enrichment on their raw data so they can use it for informed decision making.

Data enrichment has numerous benefits that make it a great infrastructure for companies. Here are the top 5 benefits of data enrichment.

Deeper Customer Insight
Enriching your data means you can effectively update important details, such as your current firmographic and technographic data, location, job role, email Id, contact number, and more. Therefore, enriching your data would simply upgrade and update your current data to give you deeper insights.

Data Enrichment Boosts Account-based Marketing
Account-based marketing is the future of marketing, and many businesses are finding that a one-size-fits-all approach to marketing is not working. They switch to targeted commercialization. To be successful in ABM, an enterprise needs data enrichment to effectively segment data

Identifies Recurrent Entries
Data enrichment helps to find duplicate entries from the existing communication data sets. The data decay average per month is close to 8% and the annual average is close to 22%. Without data enrichment, as a standard practice, it is not only difficult but impossible to make full use of data. A robust data-driven process can effectively identify duplicate entries that can help refine your internal and external customer communications and directly impact sales and revenue efficiency in your business.

Data Enrichment Improves Customer Experience
When it comes to experience with brands, customers have huge expectations. They expect companies to know them, to anticipate their needs, and to be important. Data enrichment improves customer service through the collection of unique customer knowledge. By personalized marketing, the company will predict consumer needs and remain significant.

Greater Sales Closures & Business ROI
Data Enrichment impacts directly on your sales performance. Clean and accurate data increases the chances of sales conversions with customized offers. Imagine investing a large portion of your income in a contact list and hoping to hear from your prospects and customers just to realize that the list is outdated. Data enrichment brings accuracy as well as completeness in your B2B data.

Conclusion
The basic lesson from all this is that high-quality, enriched data is an incredible business advantage. Staying on top of what you have is essential; so investing in data enrichment is certainly fruitful for a B2B company that sees value in B2B data as a global connector.