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:
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 And all that outdated data can lead to negative impacts for your business, including low email open and response rates, wasted ad campaign dollars, and stimied sales teams.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.
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.
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:
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.