Salesforce Data Enrichment - A complete guide

Having the same data as your opponents can make for severe competition. A great way to have an edge over them is through gathering and utilizing first-party, volunteered data. However, even having first-party data may be insufficient if it’s inaccurate or incomplete.

What Is Data Enrichment?

Data enrichment is a process that involves combining first-party data collected from internal sources with data collected from other internal sources or third-party external sources. It is a solution that can transform the information you already have into accurate customer profiles. These profiles will help you to map your customers’ needs more accurately so that you know how best to serve them with relevant offers, content, and other personalized experiences across channels. Data enrichment improves the quality of datasets through the addition of new data.

Data Enrichment helps you enrich the accounts and assign them to Sales Reps, which leads to faster pipelines. Enriched data can be used specifically for marketing campaigns, segmentation, or targeting. The right amount of enrichment helps qualify the leads, and aids in routing them to the right person. It allows running specific ABM campaigns, eliminates the accounts that are not fit for those campaigns, and offers talking points to the salespeople.

Importance Of Data Enrichment

Data Enrichment is important because it:

1. Collects Valuable Data

Data enrichment does not involve merely adding more to your records. Enriched data describes valuable data relevant to the situations and problems at hand. It is shared among stakeholders, such as managers, shareholders, and customers. The enriched data helps you by generating good questions to ask your customer when your company needs to find out more information.

For example, many websites have chatbots created on machine learning technologies and artificial intelligence. Chatbots use enriched data to obtain feedback from their customer discussions and answer customer questions more efficiently.

2. Improves Data Accuracy

Data is notorious because it decays every moment. For example, due to potential clients or buyers changing contact numbers, 30% of a simple contact list will become useless in almost a year.

Moreover, adding data from one group to another is challenging, as you collect customer information from various formats. You should make all the values you want to combine in a digestible format in order to enrich a data set truly.

Your efforts will not produce good results if you don’t keep your data clean and accurate. For example, let’s say you prepare super emails and send them to the 1,000 people on your email list. However, data decay ensures that approximately 30 percent of the emails are not valid anymore. Furthermore, because of double entries from the appended email, you might accidentally send an email twice to the same person. Sound data enrichment ensures you have up-to-date data. It clears typos and removes double entries to ensure you have correct data and are reliable.

3. Saves Time

It is usually thought that appending data would add more time as you already spend a lot of it logging and maintaining data. Manual data entry is the greatest challenge to CRM adoption.

Contrarily, data enrichment reduces the effort and time one needs to do the job since it allows automation in intelligent ways. Data enrichment automation standardizes values, focusing on the most meaningful impact you can give a target customer set according to the requirements.

Introduction To Salesforce

Salesforce began its journey as a CRM. It is still used as a CRM by B2C and B2B companies. The best part about Salesforce is that it is

1. Customizable across industries. Therefore, it can be used by the SaaS as well as the hospital industry.

2. Millions of applications are available on Salesforce, and the ecosystem around it is pretty significant and rich to many developers that can develop Salesforce Applications.

3. You can easily find consulting firms, developers, and applications that are only dedicated to Salesforce.

Generally, Salesforce has been successful with mid-market and enterprise companies. Over the last few years, it has been focusing on small businesses and startups. Most of the US companies use Salesforce. It has good ground not only in the USA market, where it is the leading CRM, but also in APAC, India, and Australia.

Why Is It Important To Enrich Your Salesforce Data?

It is important to enrich your salesforce data:

1. To qualify or disqualify inbound leads.

– Companies do have different criteria to qualify. Most of the enriched data is used to qualify and inform sales about the account and the lead. Automated enrichment can speed up the process by 10 hours (at minimum).

2. To assign leads to the right salesperson.

– Enterprise accounts vs. mid-market.

– USA vs. APAC accounts.

– Accounts can be categorized by products also.

3. To segment leads for future nurturing.

– This requires industry, company size, and revenue labeling.

Fields That Can Be Enriched

Company Name

– Website URL

– Website Description

– Headquarter

– Employee Count

– Revenue

– LinkedIn URL

Industry

– Linkedin Industry

– GICS Industry

– NAICS

Technologies

– Technology Intent

– Technology Spend

Teams

– What teams do they have ?

– Where are these teams based ?

What do they sell ?

– Product

– Solutions

Business Type (Configured)

– Grouping of GICS/LinkedIn Industry to your segments

– SaaS/Internet

– Software

Product and Services

Enrichment Date

Use Of Firmographics & Technographics In Enrichment

Lead enrichment can provide them with technographics at the level of their products. It can answer questions like:

1. Who is using the mobile App?

2. Who is using web automation?

3. What products should they sell?

It is possible to figure these out based on technologies and technology categories being used.

Example 1. Lambdatest (www.lambdatest.com)

Technographics data can help LambdaTest in many ways. LambdaTest sells products such as Manual Testing, Web Automation testing, and Native App.

Manual Testing: Companies testing their work using manual testing can be identified using the following criterion:

Good employee count.
QA & Testing must be present.
Bonus: Hiring in testing domain.
Intent: Hiring in the testing domain with experience in Selenium or relevant technologies.

Web Automation Testing: Companies testing their work using automation can be identified using the following criterion:

Good employee count.
QA & Testing, Test Automation must be present.
Bonus: Hiring in the testing domain.
Intent: Hiring in the testing domain with experience in Selenium or relevant technologies.
Technographics: Evidence of using technographics in the past.
Presence of employees with Selenium as tech stack.
Presence of a buyer at a director level.

Example 2. Demandfarm (www.demandfarm.com)

How would DemandFarm use technographics?

DemandFarm will want to target companies:

Technographics: Using Salesforce.
Advanced modules such as Pardot will indicate that sales tech spend is high.
Team Intel: Account Based Selling, Enterprise selling team, must be present.
Bonus: Hiring in Account Based Selling, Enterprise selling.
Technographics: Evidence of using technographics in the past.

Firmographic & Technographic Data: Use Cases

1. Quickly Determine Qualified Sales Leads: Segmenting qualified prospects becomes easy when you integrate technographic and firmographic details into your sales workflow. You can use SalesIntel to filter and discover companies that match your needs. SalesIntel allows organizations to ramp up their lead generation activities by leveraging technological data to drive decision-making and better define opportunities.

2. Improve Marketing and Sales Messaging: You must personalize every marketing campaign and messaging you can. Prospects won’t contact you again if they don’t think your email or call is essential. If you start using technographic and firmographic data, you can talk to prospects and have more value than ever.

You will most likely sap your ad budget targeting uninterested viewers if you make the wrong decisions. Technographic and Firmographic data can help to set up more focused ad campaigns. When you discover the perfect prospect data, you can use the data to target your ads more efficiently.

3. Improve Customer Retention: Harboring and developing long-term, mutually beneficial relationships is the ultimate aim. It is nice to see prospects turn into customers. You will have more good business analysis and will be able to anticipate business-driven problems involving at-risk accounts.

Over a period of time, sales intelligence tools have denigrated the more conventional methods of generating leads. Firmographic data is a crucial component of contemporary sales intelligence as we know it today. It can help your business flourish by sieving out flimsy and low-intent sales leads that consume your resources.

Firmographic data and sales intelligence can help you determine whether a lead is worthy enough to pursue. It is a crucial indicator that enables you to improve deal conversion rates by locking more sales.

Using technographic and firmographics data lets you target and acquire better accounts. Hence, you can make better decisions while segmenting the qualified prospects if you have more data about your potential market.

Firmographics and technographics data aren’t the end or the ultimate solution. However, they are the most essential components of client engagement and the customer experience in the modern age. You can master the art of segmenting and selling if the buyer’s intent data support technographic and firmographic data.

Steps To Enrich Data Using OceanFrogs

There are many forms of data enrichment that are frequently used today. Some of them are as follows:

1. Contact Enrichment: When you add contact information such as job titles, valid business emails, and contact numbers to an existing database to obtain a complete database of leads, it is known as Contact Enrichment.

2. Geographic Enrichment: When you add address data to the contact and customer information, it is known as Geographical Enrichment.

3. Behavioral Enrichment: When you study behavioral patterns, such as previous purchases or what software and application are being used, it is known as Behavioral Enrichment.

Author Details

Srujan Patil

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