Data enrichment refers to processes used to refine and enhance raw information. It helps businesses add value to and improve the quality of their data. This process will help you take a basic database and turn it into a more valuable asset that can be used more proactively. If you want better leads and conversions, it’s time to consider data enrichment.
Data Enrichment is Something Different for Every Organisation
Data enrichment can work in many different ways, and every business has its own reasons for wanting to add more value to their data. Most of the tools used for this purpose involve refining data that might include small errors and inconsistencies. This could include anything from ensuring the accuracy of algorithms, to adding new data to tables, to correcting grammatical errors. The tools you use all depend on the complexity of your processes. Are you merely simplifying your data, or are you planning to move it to a new Customer Relationship Management (CRM) system? However you’re handling your data, make sure you develop a solid strategy and utilise the right tools.
Enriching Your Data Leads to Greater Organisational Success
Poor data quality can have a negative impact on your business. Even if your data isn’t that bad, it can certainly be improved. Maybe your sales team wants a few extra specifics for the sake of touchpoints, or your marketing team needs more details to help identify trends.
There are a few steps you can take to enrich your data. Firstly, make sure to do a quality check on all the data within your CRM. This should be done by an expert who understands all the factors of good quality data: completeness, consistency, accuracy, validity and timeliness.
Marketers and salespeople need to work together to ensure that the content they send out is highly relevant and of a high quality. The concept of ‘Smarketing’ (the alignment of sales and marketing) is now fairly common, but it’s an operational strategy that has been proven to drive greater ROI. According to research done by the Aberdeen Group, companies who embraced ‘smarketing’ saw a 32% faster growth in sales revenue. The collaboration ensures that both teams create a more structured outline of their clients and prospects. In turn, this allows for more precise targeting, increases engagement, and maximises ROI.
With high-quality data, organisations are able to make fact-based decisions that lead to greater organisational success. Instead of buying a completely new database, GCL can turn your current data into a valuable sales-generating asset. Our enrichment service will allow you to carry out more targeted and personalised campaigns through data enhancement, a new bespoke database, data cleaning, or a data management service. To find out how GCL can help you enhance the quality of your marketing data, and how enhanced data can improve your marketing strategies, download our free guide:
