What is Lead Enrichment?

Lead enrichment refers to the following-up of a lead in order to understand a potential client better. Basically, a lead is a potential sales contact, and can be anything such as a person, a company or an institutional entity. The main reason for lead enrichment is to help you find out how your product or service meets the requirements of your lead. 

Getting a potential client to become interested in what you have to offer is an important step towards lead generation. It’s a procedure called lead data enrichment.

Immediately a lead shows interest, your job is to convince them that your product or service is the best choice for them. To do this perfectly, you must enrich lead data by finding out the technology choices, lifestyle and personal preferences of your lead.

Why Lead Enrichment?

Lead enrichment focuses on finding out what controls the buyer’s decision to buy. Any outcome the lead generates must then be followed by intelligent strategies.

Here are some reasons why marketers should enrich lead data: 

  • Better Segmentation and Targeting: Having a true knowledge of the likes and dislikes of your leads based on hardcore data points will aid you in carrying out a detailed segmenting of your target population.
  • Lead Automation: Your leads are always kept relevant and updated due to auto updating.
  • More Customized Marketing Communication: It is now easier to communicate in a personalized manner with potential clients due to better segmentation. You can now try to resolve your client’s specific needs using well-crafted marketing content through emails, personal conversation and other marketing collaterals.
  • Passive Lead Generation: When you find out more about an existing lead, you might get the chance to discover other leads that are similar to the first one.
  • Better Sales Efficiency: The aforementioned reasons will equip your salesperson with real insights and tools to sell effectively. Automation is important to lead data enrichment because it reduces the amount of time a salesperson spends on pre-sale activities.

How to embark on the Lead Generation journey?

To get the best results, you should try to come up with a well-researched lead enrichment strategy, right from data-builds to investing in the right lead enrichment tool:

  • Build Data: Lead enrichment involves the use of so many CRM and data mining tools so you can be able to extract more information about your prospects without much stress. You really need data in order to convert more leads to deals. This data will also give you an in depth knowledge of your leads. 
  • Device Suitable Systems And Workflows: You should know that learning about your audience is a never ending process. It is almost impossible to scourge multiple  sources manually to get enough data. So, you must create or buy a the enrichment tool that suits you the most, to help you do all the tedious data-work effectively.
  • Integrate With Other Systems: To get the best of lead enrichment, there has to be continuous extraction from many sources. If you integrate your lead data enrichment tools with your marketing and sales, it will result to an automated data enrichment process.
  • Establish Multiple Communication Channels: Make sure you follow lead enrichment with real action like customized interactions to ensure continuous lead engagement. Get all the valuable information and use it to your advantage when you have a conversation with your prospects, face to face or via email.
  • Real-Life Action: This is the most important aspect. Make sure that all the intelligence you’ve gathered through data enrichment is put into action. To do this right, you will need to work with a trained team who will follow up on these enriched leads.