Lead management has been defined as the process of identifying and nurturing potential customers all the way through to conversion, all of which is underpinned by technology that automates this process. Whether you work in Sales, Marketing, or ano
You’ve worked hard for your leads — but could your leads be working harder for you? Find out how automated enrichment can help turn your leads into customers.
What Is Enrichment?
Simply put, enrichment is the process of adding information to a lead record, whether for an individual or for a company or organization as a whole. For instance, if you have a lead’s name, email, and/or phone number, you can use that information to pull company information for B2B sales or personal demographic information for B2C marketing. Here are a few examples of the types of information you can add to enrich a lead:
B2B Enrichment Examples
B2C Enrichment Examples
The Value of Lead Enrichment
Enriching leads makes them more valuable, turning faceless lead records into robust profiles. The more robust your lead profiles, the more effective your marketing and sales strategies. Enrichment doesn’t just enhance your leads’ records — it enhances your sales and marketing teams’ ability to connect and convert by providing them with valuable insights.
Ironically, enrichment can also involve the removal of data. According to MarketingSherpa, B2B data decays at a rate of approximately 22.5% per year, as people change jobs or job titles and companies merge or go out of business. And all that outdated data can lead to negative impacts for your business, including low email open and response rates, wasted ad campaign dollars, and stimied sales teams. So, part of enriching your leads is also knowing when to remove or update them.
Examples of enrichment
Okay — you’re sold on the importance of enriching your leads. But what does that look like? Here are three examples of lead enrichment: two B2C and one B2B.
In this insurance example, the enriched information lets us know that there is potential to market several different policies to the lead: house, automobile, boat, pet, and life insurance.
In this automotive example, the enriched data indicates that the lead could be in the market for a high-end car or a truck or SUV with towing capacity.
In this B2B example, the enriched information about company size and industry could impact the products they’d be interested in. This information can also determine what type of sales rep they’re sent to; for example, large enterprise companies are usually matched to an account executive, while small companies may go to a sales development rep (SDR).
How NOT to Enrich Your Leads
You’re ready to enrich your leads. Where do you start?
Well, we’ll tell you where not to start: adding more questions and fields to your lead-gen forms. We understand the impulse: if this information is so valuable, why not ask for it upfront? But the more questions you ask a lead, the less likely they are to fill out your form at all.
A recent HubSpot analysis of more than 40,000 landing pages showed that the optimal number of form fields is three. This generally resulted in a 25% form completion rate.
Another pitfall to avoid: trying to manually enrich your leads by searching for more information online and on social media. This is a cumbersome, time-consuming, and often inaccurate way to flesh out your lead profiles.
Luckily, you can use automated enrichment to get the data you need without asking potential customers to fill out lengthy lead forms or spending hours of company time manually looking for information online.
Automatically Enrich Your Leads with Convertr
Convertr allows you to automatically enhance your customer profiles with more than 300 data sets (and counting) from industry-leading third-party providers. This lets you append even the most niche information — no matter the industry or product, we’ve got access to data that can enrich your leads!
Here’s how Convertr’s automated enrichment can work:
- You input your lead data (information you’ve captured from online forms, social media, spreadsheets, etc.).
- Convertr verifies each lead’s contact information to make sure the email address and/or phone number provided is live.
- Convertr adds third-party enrichment data to your lead profiles based on your specific criteria.
- Convertr formats and standardizes your lead records for consistent data across all sources.
- Convertr validates and scores each lead based on your company’s persona, ABM, and suppression rules. For example, if you’re exclusively targeting leadership roles, we can reject interns, associate job titles, etc.
- Convertr maps and routes enriched leads to your marketing automation platform or sales CRM.
Automated lead enrichment from Convertr is a cost-effective upgrade that saves time, effort, and budget and empowers your business to close more deals by transforming raw data into real, live audience profiles.
Ready to start enriching your leads? Contact us to learn more about connecting your enrichment provider or enrichment opportunities available through our current partners.