Any business that holds and manages large volumes of data needs to engage in data enrichment. Data enrichment is the process where businesses assess the accuracy and reliability of their data. This ensures that it is still viable and efficient. Whenever a business engages in data hygiene, data enrichment will be part of that larger process.
Data enrichment itself is the process of supplementing existing datasets with additional information. Whenever this is added, that data is then verified against external datasets. It’s a process that validates current information held in the database while also increasing its effectiveness.
The Data Enrichment Process
At its heart, data enrichment is about the improvement of the dataset and of the activities that engage with it. Teams will work to source new data and add it to existing entries. The more accurate this data, the better. With a significant amount of data, we’re able to increase the opportunities for personalization. In turn, that leads to greater conversion rates for marketing campaigns.
Personalization is arguably the most important aspect of data enrichment. Datasets with a high level of information and detail open doors to greater marketing and sales opportunities. Marketing campaigns can better tailor their outreach efforts. Imagine running an email marketing campaign where you know for sure that the segments you’re targeting all have specific shared demographics or interests.
A great consequence of data enrichment is reduced costs. The process itself might be costly, but the results deliver more effective outreach with a higher rate of engagement. That means your cost per acquisition is significantly reduced.
Furthermore, during the process of enrichment, you may remove erroneous data from your set. That means no wasted time on leads that are no longer viable or suitable.
Data Enrichment Isn’t Data Cleansing
Often, the two terms get lumped together. That’s understandable, thanks to their similarities in the processing style. An easy way to consider the two differently is to look at the actions that take place. Data enrichment is the process of adding data to your entries. Data cleansing is the removal of invalid entries.
One might beget another, and the two might intertwine, but they serve slightly different purposes. Remember that the best databases aren’t the biggest. The best are the ones that have the most accurate, relevant, usable data.
Consider your email marketing list. You might send out a new email campaign and see your bounce rate soar. You’re left asking yourself why your email bounced back. The answer is usually bad data. The process of data cleansing will include email verification. Invalid emails should be swiftly removed so that your next question isn’t about email blacklisting.
Best Practices for Data Enrichment
How you engage in data enrichment might be different compared to other businesses. After all, your database should be unique and have its own nuances. That said, there are a number of best practices that all businesses should abide by.
Set Yourself Goals
Before you begin the data enrichment process, set yourself some goals. How are you planning to enrich the dataset? You might have a KPI related to overall database accuracy. You might have one related to email verification scores. Whatever you decide to choose, make it clear to the team and encourage everyone to work toward it.
Systemize Your Process
This isn’t a one-off event. Data enrichment needs to be completed on a seemingly continuous basis. This means you need a process that can be replicated time and time again. An even better solution is to have an automated system that completes some data enrichment for you.
Make Sure You Can Scale
A nice by-product of data enrichment is that your database scales. This has its own potential problems, and managing huge datasets can be labor-intensive. Make sure that whatever process you develop for data enrichment can easily scale.
Ensure the Enrichment is Purposeful
Any process of enrichment needs to serve a purpose. Make sure that you’re adding data to the set that you will genuinely use in marketing or sales campaigns. Failure to do this will lead to significant bloat and potentially cause issues with scalability. Whenever enriching data, ask yourself if you’re ever going to use this information.
Revisit Data Enrichment Regularly
Data enrichment isn’t a once-a-year event. To ensure that your data is as clean and relevant as possible you need to regularly undergo a process of data enrichment. Whenever your team comes across new data or finds a new source, data enrichment should take place. That ensures your data is always at its best.
Use a Tool
You could develop in-house data enrichment tools, but you’re far more likely to find success through a third-party tool. Tools like Instantly offer email verification and a huge B2B lead finder database of over 160 million prospects. Use these tools to source new enriching data.
Key Takeaways
A continuous data enrichment process ensures your database is showing its best. That means your marketing campaigns are working at their best, and sales have the best chance of converting prospects.
- Alongside data enrichment, make sure you are embracing data cleansing too.
- Don’t fall into the trap of filling your database with useless information. Big databases aren’t always the best.
- Return to the data enrichment process regularly.
Email marketing and sales outreach rely heavily on enriched data. Combine your database with Instantly, and you’ll quickly have personalized, efficient emails. Use the AI-powered warm-up feature to best position yourself for incredible deliverability. Then, launch the automated sequences. Instantly makes the process a breeze from start to finish. Get started today.
