Data enrichment in a B2B context refers to supplementing basic lead data such as name and employer with identifying details such as contact information, firmographic details, social signals, intent data, and a host of other such data. It involves adding insights and signals such as company size, industry, tech stack, purchase history, social media activity, and behavioral patterns.
The data enrichment process transforms raw data into actionable intelligence and helps sales teams be more precise with their outreach efforts. It involves enhancing and contextualizing basic information about the lead using AI, first-party data, and information from other databases.
The significance of high-quality data in decision making
Data enrichment is critical for sales operations as it helps with converting raw prospect information into actionable intelligence. It enables focused prospecting, helping sales teams identify high-intent prospects and improve conversion rates while eliminating time wasted on unqualified leads.
Data enrichment is also indispensable for companies that want to focus on personalized outreach with targeted messaging that addresses specific prospect pain points, improving open and response rates.
Operationally, data enrichment provides accurate revenue forecasting and clearer pipeline visibility for better strategic planning. Sales teams become up to three times more productive with enriched CRM systems, eliminating repetitive research tasks.
Key criteria for evaluating data enrichment quality
Enriching your data is only half the battle won, though. It is important to ensure data quality, i.e., the data is actually useful. While quality can be subjective, there are certain basic requirements that must be met for a piece of data to be considered high quality. These include:
Data accuracy and reliability
This sounds pretty basic, but a lot of times, data enrichment tools don’t always provide you with accurate data. A person’s employer or designation/title might be outdates, phone numbers might be incorrect, and email ids might not be verified. So, it is important to not just look at data fill rates but also look at data accuracy.
Data sources and enrichment methods used
The data you present should come from trusted and verified sources, and must not breach any privacy or security concerns. For example, any phone numbers, email ids or lead insight should be procured legally and your sources should adhere to regulatory and compliance requirements.
Integrations and compatibility with existing systems
Data only has value if it comes with context. Even the best data points about a lead or an account won’t be of use to a GTM team if it isn’t on the CRM or can’t be integrated to any of the sales and marketing tools.
Practical steps for evaluating data enrichment providers
The data enrichment tool you choose will directly influence how effective your marketing campaigns, sales outreach, and customer acquisition efforts are. Instead of jumping straight into feature comparisons, taking a strategic approach to evaluation helps you find a solution that actually serves your business goals.
Start with a clear objective
Before you do anything else, figure out exactly what you want to accomplish with data enrichment. Maybe you're looking to enhance your CRM data quality, reduce email bounce rates, or get deeper insights into your target accounts. Having this clarity becomes your guide when evaluating different solutions and helps you separate the must-have features from the nice-to-haves.
Creating a clear set of evaluation criteria for your unique requirements
What matters to your business might not be as important for another. So, before you start choosing your data enrichment provider and assessing quality, you need to make a list of what matters to your business and your team. For example, you might want to focus more on fill-rates than verifiability of email ids, or you might want first party insights rather than data from third-party sources. So, make a list of criteria that are specific to your business.
Compare and evaluate different data enrichment providers
There are dozens of data enrichment and sales intelligence tools in the market, each catering to a different need. A product might be rated #1 but may not necessarily meet your requirements. Take the time to shortlist the different tools that match your needs, try the products or get product demos from the company, and extensively evaluate each provider to see which suits your requirements the best.
Look for value-add services in addition to data enrichment
Modern data enrichment platforms often go beyond basic enrichment. Features like finding ICP contacts, enriching leads with intent signals, market analysis tools, and built-in engagement capabilities.
Test the data enrichment with pilot projects
Look for vendors that allow you to try their product on a pilot or POC basis so you can ensure that the data you get from the tool meets your requirements. Also ensure that the provider you work with offers dedicated account management, responsive technical support through multiple channels, and active user communities where you can learn from other customers. Data enrichment can be complex, so quality support can make a huge difference in how successfully you use the platform.
Continuous monitoring
Data quality isn't a one-time check; it's an ongoing commitment. Schedule periodic data quality audits, especially after significant data imports or changes in your sales and marketing strategies. Establish clear channels for your sales and marketing teams to report data inaccuracies or suggest improvements. Also, since data about leads can be quite sensitive, be sure to have internal policies for data entry, maintenance, and usage to ensure consistency and prevent degradation over time.
The best data enrichment provider for high quality data
Highperformr is an AI-native data enrichment and GTM intelligence platform that provides companies with high-quality verified data. Highperformr enables users to enrich their CRM with first-party data in real time and has been built to provide B2B companies with all the data, signals, and insight required to help them prioritize their account book and target leads most likely to convert. Highperformr stands out from all other tools because it provides real-time data and helps enrich leads and target accounts with recent and relevant intent signals that help businesses go after the right leads at the right time.
To learn more about how Highperformr can help your sales teams with data enrichment, schedule a demo with our team here, or sign up for a free trial to play around with the tool in the meanwhile.
