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Data Enhancement Best Practices & Benefits

Every brand collects data about its customers to build a customer profile. This ranges from basics like name, age, geographic location, and gender to more specific details like size, design preferences, and budget. There’s a ton of information that can be collected but not everything needs to be captured and not everything can help create a comprehensive customer profile.

This is where data enhancement comes in. Data enhancement collates information from multiple sources to build a strong profile. This can help you make informed decisions for your brand’s future. Let’s take a look at some of the best data enhancement practices and the benefits they could bring to your brand.

Lead Data Automation To Shorten Lead Forms

Automation is a must-have tool for brands to keep their data up to date. This is important because customers can change their email addresses and contact information. Keeping up with customer details ensures that broadcast email campaigns aren’t sent to wrong emails and hence brings down your bounce rate and risk of being blacklisted. Automation tools combined with data enhancement can shorten lead capture forms while capturing vital information such as social media profiles, company names, job roles, etc. It’s more convenient for your customers, reduces your work, and leads to higher conversion rates.

Dual Lead Scoring For Trend Identification

Lead scoring is typically understood to be a manual task. Since each lead has a unique sales position and engagement level, it must be treated in a unique way to drive conversions. Hence, automation alone is not very dependable for this.

However, this manual processing can take time. Combining automation with manual enhancement processes can help save time and get accurate results. Use automated tools to identify trends in the data and follow this by manually assessing and monitoring critical customer information.  With data enhancement, you can make your lead score more trustworthy by including information such as location, business size, behavioral data, etc.

Lead Grading For Higher Quality Leads

Lead scoring is important but is not enough by itself. Data enhancement can complement lead scoring with efficient lead grading to improve the quality of leads generated. This involves automating the assessment of factors such as job titles, revenue, and industry to see whether a lead can be closed or not. This helps select targets with the highest chance of a conversion. For example, you could reach out only to those prospective customers who have a budget for your product rather than reaching out to everyone including people who may just be window shopping.

Leverage Machine Learning For Enhanced Customer Experience

Machine learning is one of the ways data can be enriched. It is based on statistical models and complex algorithms that make it capable of performing tasks without human interference. When well defined, its possibilities are endless.

An easy way for businesses to leverage machine learning for data enhancement is through chatbots. These chatbots help capture information about visitors on the website while enhancing their experience. Chatbots can complement lead capture forms to create comprehensive customer profiles.

Defined Data enhancement For Trend Detection

Given the vast information about consumers available, it is easy to reach a stage where you have too much data. Unless you have a well-defined goal, this information will not help you create a comprehensive customer profile.

For your data scientists to be efficient, the opportunities you want to address should be clearly defined from the start. This allows enriched data to be organized effectively and used to make predictions, detect patterns and discover opportunities to upsell products. With a defined path, enriched data can not only help generate ROI but also help retain customers. Based on data about customer behavior, brands can assess whether their customer base has new needs or if their product line needs expansion.

Personalized Messaging through Enriched Data

With data enhancement, a brand can boost overall conversions and help cater to individual customer preferences. Data enhancement can be used to personalize campaigns and create touchpoints that improve customer relations. Having information about the customer’s interests, preferences, and hobbies give brands a way to engage with their customer base.

Personalized marketing is much more efficient than generalized messaging. Studies have shown that personalized promotional emails have a 29% higher open rate as compared to emails with non-personalized messages. Data enhancement also makes it possible for brands to anticipate their customer needs and make relevant personalized suggestions.

In Conclusion

Enriched data is the only way to get true consumer insights and hence is critical to the success of every brand. After all, an email id can tell you only so much.  Data enhancement helps you create comprehensive customer profiles, target the right audiences, understand your customer’s needs and personalize your message to boost response rates. This is what you need to make your company successful not just today but in the future as well.

Written By

A Content Marketer at Marketlytics focusing on improving content strategies. I'm a passionate blogger and enjoys writing about analytics, marketing, and SEO.

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