B2B sales can be challenging, especially since company data can easily change over time.
As of now, you might be familiar with scenarios of bounced-back marketing emails, outdated contacts, or unmatched offerings on your leads. Unqualified leads can waste so much of your sales team’s time and effort in any way.
Luckily, lead enrichment can help you minimize having unqualified leads and find a way to close more sales.
Defining lead enrichment
Lead enrichment refers to the process of researching related data around your leads. This usually covers gathering a company’s size, industry, and contact information. This makes the qualifying process faster since your sales team can get enhanced insight into a lead.
Lead enrichment takes form in several ways, from copying and pasting information from their websites and LinkedIn pages to using enrichment tools to automate this process.
Advantages of lead enrichment for your business
Gartner points out that poor data quality costs businesses almost US$13 million yearly. Having poor data impacts sales teams in terms of closing sales.
Lead enrichment prevents this from happening and provides the following advantages to your business:
Advancing the lead generation process
Having accurate data through lead enrichment helps your team qualify leads better. This makes your sales pipeline more effective since you can filter your leads better and save quality prospects.
Strengthening customer retention
Lead enrichment also helps in strengthening customer retention. Clients won’t be counted as opportunities lost with the help of minimal and automated lead capture. This also creates an improved client experience on your part.
Improving the sales process
Through lead enrichment, the sales process can be streamlined better.
Salespeople won’t have to waste their effort in additional steps for lead scoring. Instead, they can focus on converting qualified leads into loyal customers.
Utilizing data better
Enriching leads can prevent “dirty data.” It helps sales teams use their data better and get quality information by having a data-driven approach to closing sales.
Saving costs
Lastly, lead enrichment turns into savings for businesses. Sales teams can do their work more efficiently without the extra costs and effort to do so.
These savings and increased revenue and customer base lead to better company growth.
Dos and don’ts of lead enrichment
Lead enrichment can provide the advantages listed once done right.
Dos
Below are some of the things you should do for enriching leads:
Review your sales processes
Before looking into enriching leads automatically, review your sales process first. Doing a quality audit helps you look for points for improvement and ways to streamline your operations.
Automate manual processes
On the other hand, lead enrichment works best with automated workflows. Automate processes that should be automated first, starting with manual and repetitive tasks such as lead generation.
Get your sales team involved
Your sales team should benefit from lead enrichment activities by easing their workload. This is why you should get your sales team involved in improving and automating your processes.
Don’ts
Here we have the things that should not do in lead enrichment:
Never rely on automation alone
In the end, communicating with your leads matter, especially when converting them. Automating your processes should only be the first step in attaining this.
Instead, arm your sales team with continuous training on building relationships with your leads.
Refrain from “marrying your tool”
Sticking to your tool alone limits your capability to get to know your clients better.
Always remind your team that your customers are not just simple data. You can use its features to maximize your workload. However, always be personable with your clients to avoid making your sales teams look robotic and scripted.
Don’t just stick with your current process
Just because your process and tools work for you today does not mean they will still be in the near future. Trends and strategies change over time, so you should keep up.
Review your enrichment processes and tools often. Find ways to improve your strategies and see how some trends can apply to your business.
Top lead enrichment tools
The following lead enrichment tools can help you start expanding your information today:
Cognism
Cognism is deemed the leading choice in sales intelligence. The tool guarantees high accuracy in contact details gathered for every lead, unrestricted data access, and eased integration with CRM tools.
Cognism even covers international markets, making it easier for you to expand your global network.
ZoomInfo
ZoomInfo provides an integrated B2B system to help you connect with prospects better. It helps gather insights and create solutions to expand your business, from sales to headhunting.
Additionally, ZoomInfo can also be used in data cleansing and marketing automation to make your data action-ready.
FullContact
FullContact guarantees to enrich lead information and improve client experience while protecting your business.
The tool helps track the identity of your website visitors privately and prevent fraud by verifying their identities. Meanwhile, it helps you tailor a personalized experience for each of your leads without compromising their privacy in return.
Crunchbase
Crunchbase is an all-in-one prospecting and lead enrichment solution with a worldwide company database.
Through Crunchbase, you can discover, verify, and reach out to your prospects more easily. The tool is perfect if you are looking for startups and small businesses funded through venture capital (VC).
LeadGenius
Lastly, LeadGenius is a lead enrichment tool fit for businesses with medium to large enterprises as clients.
This tool lets you easily update your data through smart insights and on-demand precision. LeadGenius is widely used by established brands, including Rakuten, Indeed, and eBay.
