CRM Enrichment Basics & How it Impacts Marketing ROI

In the modern B2B world, accurate customer records are vital for effective marketing, yet B2B contact data decays by 30% annually due to role changes and company details. Outdated data leads to misdirected efforts. Wrong job titles mean irrelevant content, missing industry details hinder segmentation, and inaccurate company size affects messaging.

Poor data quality impacts lead generation, conversion rates, and revenue. Conversely, comprehensive, accurate data boosts revenue by 67% per account. It’s clear that growth-oriented B2B players have no other option but to adopt ongoing data enrichment to remain a few steps ahead of their competitors.

Let’s dive into how to enrich your existing CRM database and what tangible benefits you can derive from it.

What Must-Have Fields to Append to Your CRM Database Records?

If you wish to get more precise segmentation and personalized communication through your ad creatives and targeted content, you definitely should extend basic contact information.

Here are the key attributes worth adding:

  • Job Title & Seniority. Specific job titles and seniority levels provide nuanced insights into a person’s authority level and decision-making power.
  • Industry Type. It can guide marketers on tailored messaging that will address specific pain points relevant to common industry challenges.
  • Company Size and Revenue. Evaluating company size and revenue is essential for developing sound and properly scaled offers. Whereas large enterprises might be interested in bottom-line outcomes, the smaller ones might pay attention to budget-conscious offers.
  • Company’s Techstack. Analyzing a company’s tech profile can tip you on what set of objectives they’re trying to solve. The recent switch from one solution to another is a sure signal that they’re looking for alternatives and might consider your product.
  • Social Media Accounts. Possessing social media profiles of your prospects allows you to double down on them in your outreach campaigns. On top of that, social media provides a variety of ad formats to experiment with and fast feedback on audience engagement.

Enriching data in these fields enables precise segmentation that fosters more relevant and impactful marketing moves and sales interactions.

How to Automate B2B Data Enrichment?

To marketers’ benefit, there’s no need to run contact database enrichment manually these days. The modern suit of martech tools empowered with AI and machine learning engines can automate the enrichment process end-to-end.

You can try Primer as one of the tested and simple in-use data enrichment platforms. Primer is made with a multi-channel audience reach in mind. It can use your CRM database both as a source and destination for enriched audience lists. Primer’s data enrichment engine utilizes 10+ external B2B data sources, including Apollo, ZoomInfo, BuiltWith, and others.

With hundredths of Primer filters, you can configure data enrichment to perfectly match Ideal Customer Profile criteria. Therefore, you’ll be apt to run full-fledged ICP marketing campaigns targeted at high-quality prospects that are best fit for your offers.

How Does Contact Data Enrichment Impact Marketing Performance?

An enriched contact database profoundly influences marketing performance and key metrics. In particular, complete firmographic data can properly guide marketers in audience segmentation and reach the right people with the right messaging. This targeting precision results in 8-10% higher email open rates.

Moreover, through data enrichment, marketers derive valuable insights on how to deepen the personalization of ad messages and sales proposals. You can win 20-30% higher click-throughs if your proposals refer to an addressee’s industry, tech stack, and seniority.

Most importantly, enrichment helps rectify the situation of poor deliverability of ads. With updated and complete customer data, your ads will make it to the targeted accounts. Thus, you’ll avoid blowing up advertising budgets.

Considering the B2B demand generation efforts, marketers can effectively capitalize on the existing demand. Through enrichment, you can clearly read the existing intent signals and get contact data to let you reach customers with useful content they long for – playbooks, guides, industry insights, etc.

Quantifying the Database Enrichment Impact and ROI

We’d recommend you look into such metrics as:

  • Emails open rates
  • CTR
  • Inbound lead quality (compare it against ICP criteria)
  • Number of SQLs converted into buyers
  • Cost per lead (CPL) or cost per acquisition (CPA)

Make input measurements to define your baseline, then compare them to new metrics that come up after you enrich your data. The ROI evaluation will make more sense if you consider the impact on marketing KPIs and monitor how downstreamed data affects sales productivity. On average, most teams witness a boost of over 20% in marketing KPIs thanks to using enriched datasets.

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