{"id":28733,"date":"2023-01-09T18:12:07","date_gmt":"2023-01-09T18:12:07","guid":{"rendered":"https:\/\/mailinvest.blog\/index.php\/2023\/01\/09\/your-b2b-crm-strategy-should-include-data-enrichment-heres-why\/"},"modified":"2023-01-09T18:12:07","modified_gmt":"2023-01-09T18:12:07","slug":"your-b2b-crm-strategy-should-include-data-enrichment-heres-why","status":"publish","type":"post","link":"https:\/\/mailinvest.blog\/index.php\/2023\/01\/09\/your-b2b-crm-strategy-should-include-data-enrichment-heres-why\/","title":{"rendered":"Your B2B CRM Strategy Should Include Data Enrichment. Here&#8217;s Why."},"content":{"rendered":"<p> <a href=\"https:\/\/go.fiverr.com\/visit\/?bta=1052423&nci=17043\" Target=\"_Top\"><img loading=\"lazy\" decoding=\"async\" border=\"0\" src=\"https:\/\/fiverr.ck-cdn.com\/tn\/serve\/?cid=40081059\" loading=\"lazy\"  width=\"601\" height=\"201\"><\/a>\n<\/p>\n<div id=\"read-time\">\n<p><a href=\"https:\/\/www.grandviewresearch.com\/industry-analysis\/customer-relationship-management-crm-market\" target=\"_blank\" rel=\"noreferrer noopener\">Ninety-one percent<\/a> of companies with more than 10 employees use a CRM system to store customer and prospect data, collected over time from a variety of first-party and external sources. Chances are, however, that most of that data has been sitting there, forgotten, since it was first imported.<\/p>\n<p>The best B2B CRM solutions allow sales and marketing teams to easily access and organize vast quantities of highly useful data that could be used to get new leads or provide a great customer experience. That\u2019s why <a href=\"https:\/\/www.linkedin.com\/business\/sales\/blog\/b2b-sales\/the-ultimate-competitive-edge-in-b2b-sales\" target=\"_blank\" rel=\"noreferrer noopener\">70%<\/a> of sales people consider their CRM systems crucial for closing deals.<\/p>\n<p>For marketers, CRM is among the <a href=\"https:\/\/www.hubspot.com\/marketing-statistics\" target=\"_blank\" rel=\"noreferrer noopener\">top three tools<\/a> for creating personalized interactions with customers to foster loyalty and establish a higher marketing ROI. In fact, <a href=\"https:\/\/www.capterra.com\/customer-relationship-management-software\/user-research-infographic\" target=\"_blank\" rel=\"noreferrer noopener\">50% of businesses<\/a> use their CRM platform for email marketing, and 44% of businesses use their CRM platform for marketing automation integration as well as for lead scoring.<\/p>\n<p>But, if most of the data within your CRM system isn\u2019t accurate, any value quickly goes right down the drain.<\/p>\n<h2 id=\"h-how-important-is-data-accuracy\">How Important is Data Accuracy?<\/h2>\n<p>Very. In a <a href=\"https:\/\/www.thedrum.com\/news\/2020\/11\/11\/poor-quality-crm-data-costs-enterprises-revenue\" target=\"_blank\" rel=\"noreferrer noopener\">recent CRM and data management study<\/a>, 45% of participants rated the overall quality, accuracy, and usefulness of their CRM data as poor. Issues with data accuracy can <a href=\"https:\/\/demandscience.com\/resources\/blog\/how-bad-data-can-impact-your-sales-team\/\" target=\"_blank\" rel=\"noreferrer noopener\">negatively impact your team<\/a> in many ways, including poor lead quality, disappointing conversion rates, and even <a href=\"https:\/\/www.thedrum.com\/news\/2020\/11\/11\/poor-quality-crm-data-costs-enterprises-revenue\" target=\"_blank\" rel=\"noreferrer noopener\">10%<\/a> lower annual revenues. Nearly <a href=\"https:\/\/blog.hubspot.com\/sales\/data-enrichment\" target=\"_blank\" rel=\"noreferrer noopener\">three-quarters<\/a> of companies say that data quality issues have impacted their trust and perception among customers.<\/p>\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/demandscience.com\/wp-content\/uploads\/2022\/12\/image-1_why-data-enrichmentshould-be-part-of-your-b2b-crm-strategy-1024x536.jpg\" loading=\"lazy\" alt=\"The primary goal of CRM data enrichment is to give you a comprehensive and accurate profile of your potential customers. \" class=\"wp-image-26239\" width=\"768\" height=\"402\" srcset=\"https:\/\/demandscience.com\/wp-content\/uploads\/2022\/12\/image-1_why-data-enrichmentshould-be-part-of-your-b2b-crm-strategy-1024x536.jpg 1024w, https:\/\/demandscience.com\/wp-content\/uploads\/2022\/12\/image-1_why-data-enrichmentshould-be-part-of-your-b2b-crm-strategy-300x157.jpg 300w, https:\/\/demandscience.com\/wp-content\/uploads\/2022\/12\/image-1_why-data-enrichmentshould-be-part-of-your-b2b-crm-strategy-768x402.jpg 768w, https:\/\/demandscience.com\/wp-content\/uploads\/2022\/12\/image-1_why-data-enrichmentshould-be-part-of-your-b2b-crm-strategy-100x52.jpg 100w, https:\/\/demandscience.com\/wp-content\/uploads\/2022\/12\/image-1_why-data-enrichmentshould-be-part-of-your-b2b-crm-strategy-180x94.jpg 180w, https:\/\/demandscience.com\/wp-content\/uploads\/2022\/12\/image-1_why-data-enrichmentshould-be-part-of-your-b2b-crm-strategy-325x170.jpg 325w, https:\/\/demandscience.com\/wp-content\/uploads\/2022\/12\/image-1_why-data-enrichmentshould-be-part-of-your-b2b-crm-strategy.jpg 1200w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\"\/><figcaption class=\"wp-element-caption\">The primary goal of CRM data enrichment is to give you a comprehensive and accurate profile of your potential customers. <\/figcaption><\/figure>\n<p>Maintaining accurate data has many benefits, including increased productivity, lowering overall costs, and enabling better decision-making. Here\u2019s how those benefits translate into tangible results for teams and companies:<\/p>\n<ul>\n<li><strong>Marketing departments can launch more relevant campaigns<\/strong> and accurately target communications across channels. Accurate data helps deliver the right message, to the right person, at the right time and on the right platform\u2014improving the odds that the prospect will convert to a lead.\u00a0<\/li>\n<li><strong>Sales teams can be more informed when speaking with prospects<\/strong>, making it easier to nurture them further down the funnel and improve conversion. Accurate data also helps increase customer satisfaction by providing a more personalized experience, which translates into better loyalty and increased sales.\u00a0<\/li>\n<li><strong>Companies can better adhere to consumer data privacy laws<\/strong> (like CCPA and GDPR) and support compliance efforts\u2014something for which every company that collects and stores sensitive customer data is held accountable. Accurate data makes it easier to run compliance reports (and to find required information if audited) to avoid fees associated with non-compliance.<\/li>\n<\/ul>\n<h2 id=\"h-how-can-you-improve-data-quality\">How Can You Improve Data Quality?<\/h2>\n<p>This is where <a href=\"https:\/\/demandscience.com\/solutions\/b2b-data\/data-enrichment\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">data enrichment<\/a> comes in. Data enrichment is the process of expanding the data you have in your B2B CRM system with additional, relevant info\u2014such as company address, industry sector, job title, phone number, and email\u2014typically found via third-party sources. (Note: data enrichment should not be confused with data cleansing, which is the process of deleting incorrect, irrelevant, or duplicate data and should be done prior to any enrichment.)<\/p>\n<p>Data enrichment is a critical process for any B2B sales and marketing team. Data enrichment helps marketing teams <a href=\"https:\/\/demandscience.com\/resources\/blog\/data-enrichment-boosts-your-marketing-funnel\/\" target=\"_blank\" rel=\"noreferrer noopener\">segment audiences to develop highly-targeted, personalized campaigns with pinpoint accuracy<\/a>, stoking the funnel with engaged buyers. Data enrichment also helps sales teams feel confident that the CRM data they are accessing is high-quality, complete, and up-to-date. Data enrichment can even <a href=\"https:\/\/demandscience.com\/resources\/blog\/lead-enrichment-important-for-sales\/\" target=\"_blank\" rel=\"noreferrer noopener\">boost closure rates by as much as 152%<\/a>!<\/p>\n<p>As the saying goes: garbage in, garbage out. If you start with good quality data, your decisions will be more informed, communications will be more relevant, processes will be more efficient, and outcomes will be more favorable. Data enrichment supports all this.<\/p>\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/demandscience.com\/wp-content\/uploads\/2022\/12\/image-2_why-data-enrichmentshould-be-part-of-your-b2b-crm-strategy-1024x536.jpg\" loading=\"lazy\" alt=\"Successfully generating B2B leads requires a data-driven approach that focuses on the pain points of your audience.\" class=\"wp-image-26240\" width=\"768\" height=\"402\" srcset=\"https:\/\/demandscience.com\/wp-content\/uploads\/2022\/12\/image-2_why-data-enrichmentshould-be-part-of-your-b2b-crm-strategy-1024x536.jpg 1024w, https:\/\/demandscience.com\/wp-content\/uploads\/2022\/12\/image-2_why-data-enrichmentshould-be-part-of-your-b2b-crm-strategy-300x157.jpg 300w, https:\/\/demandscience.com\/wp-content\/uploads\/2022\/12\/image-2_why-data-enrichmentshould-be-part-of-your-b2b-crm-strategy-768x402.jpg 768w, https:\/\/demandscience.com\/wp-content\/uploads\/2022\/12\/image-2_why-data-enrichmentshould-be-part-of-your-b2b-crm-strategy-100x52.jpg 100w, https:\/\/demandscience.com\/wp-content\/uploads\/2022\/12\/image-2_why-data-enrichmentshould-be-part-of-your-b2b-crm-strategy-180x94.jpg 180w, https:\/\/demandscience.com\/wp-content\/uploads\/2022\/12\/image-2_why-data-enrichmentshould-be-part-of-your-b2b-crm-strategy-325x170.jpg 325w, https:\/\/demandscience.com\/wp-content\/uploads\/2022\/12\/image-2_why-data-enrichmentshould-be-part-of-your-b2b-crm-strategy.jpg 1200w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\"\/><figcaption class=\"wp-element-caption\">Successfully generating B2B leads requires a data-driven approach that focuses on the pain points of your audience.<\/figcaption><\/figure>\n<h2 id=\"h-how-can-you-enrich-your-crm-data\">How Can You Enrich Your CRM Data?<\/h2>\n<p>Getting the right data into your B2B CRM requires a collaboration between sales and marketing teams. <a href=\"https:\/\/demandscience.com\/resources\/blog\/b2b-lead-quality\/\">Improving B2B lead quality<\/a> by identifying purchase-intent and other qualifiers will naturally increase opportunities for conversion. Data enrichment is an important step in this process.<\/p>\n<p>It\u2019s worth noting that data enrichment is not a one-and-done project; it must be conducted regularly to keep data fresh within your CRM. Sometimes referred to as \u201cdata appending,\u201d this process can be managed in one of three ways: manually; using software; or via a service. Manually enriching your CRM data may yield the most accurate result, but it\u2019s extremely time consuming and inefficient for companies to take on themselves. Using technology can help speed things up; if going this route, look for tools that include social listening, AI, and customization.<\/p>\n<p>Another option is <a href=\"https:\/\/demandscience.com\/solutions\/b2b-data\/data-enrichment\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">using a service partner like DemandScience for your data enrichment needs<\/a>. This takes the guesswork out of finding the right tool and the heavy lift out of building a qualified pipeline. A data enrichment partner will regularly refresh account and contact-level data, confirm connection information, provide insight into intent, and track technographic profiles. Think of it as a way to automatically keep your CRM up-to-date so you can focus on doing what matters most\u2014connecting with customers and prospects.<\/p>\n<h2 id=\"h-relevant-recent-and-complete-data\">Relevant, Recent, and Complete Data<\/h2>\n<p>Accurate data is the hallmark of creating a good customer experience. With regular B2B data enrichment, you can better equip your sales team to nurture leads, provide a better CX, and close new deals.<\/p>\n<p>Think of how much more effectively sales teams could work if they had all the right data at their fingertips and didn\u2019t have to go searching for it? DemandScience is here to help. We can supply relevant, recent, and complete data to enrich your B2B CRM strategy and upgrade your sales pipelines.<\/p>\n<p>Learn how to make the most of your CRM database through intent-driven demand generation data in <a href=\"https:\/\/demandscience.com\/resources\/eliminating-bad-data\/\" target=\"_blank\" rel=\"noreferrer noopener\">this free whitepaper<\/a>.<\/p>\n<\/p><\/div>\n<iframe data-lazy=\"true\" data-src=\"https:\/\/www.fiverr.com\/gig_widgets?id=U2FsdGVkX18x7XQvttUTrv1oEqmGNGTgvvCUiUoJ\/AP4z\/UyMz8lXGOLpu15jIMxBbTR0gmD5uBoFvhC4KWeALQRp3h\/X\/AwcVD0K8Wj9H\/ZzYKzcCNHosB9oS4SCJJFWiN85P9ICAc4OgCoE\/wHKIY7CDkf2\/DQ1vqGvk4smVe5cRDEmrLPCWi4FC8p40VUhSmWQ5udCm0zoJtorgWv3vbDQw0kKYkwn39ozAnQXDe+YvWMxkLFWA+O3TFwkJvdkIK+\/AUSnRssPKt5WHY0FhNOxnSPcLslEL4G4\/RfP95ve99U+kRnDy3X+KtzdQLY+u935ghON\/o3UE4IMv9oN6JX9RnxzL\/LRcOgnHigxStSGPKsZYtnz8RWNVT\/rOLAibqiWJadC5MYHRbekF3eg6FOGrQGkXYbsn0+a5aovnlLCbLwIqY9fcS17UX8J235iQ6cdmHNbrPeS84CMm34RA==&affiliate_id=1052423&strip_google_tagmanager=true\" loading=\"lazy\" data-with-title=\"true\" class=\"fiverr_nga_frame\" frameborder=\"0\" height=\"350\" width=\"100%\" referrerpolicy=\"no-referrer-when-downgrade\" data-mode=\"random_gigs\" onload=\" var frame = this; var script = document.createElement('script'); script.addEventListener('load', function() { window.FW_SDK.register(frame); }); script.setAttribute('src', 'https:\/\/www.fiverr.com\/gig_widgets\/sdk'); document.body.appendChild(script); \" ><\/iframe>\n<br \/><a href=\"https:\/\/demandscience.com\/resources\/blog\/data-enrichment-b2b-crm-strategy\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ninety-one percent of companies with more than 10 employees use a CRM system to store customer and prospect data, collected over time from a variety&#8230;<\/p>\n","protected":false},"author":1,"featured_media":28734,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-28733","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech-universe"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Your B2B CRM Strategy Should Include Data Enrichment. 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