The Ultimate Guide to B2B Data Enrichment
The best ways to enrich your CRM contacts with emails, addresses, and phone numbers and turbocharge your outbound sales efforts.
Matthew McQuinn· · Updated
The Ultimate Guide to B2B Data Enrichment
- What is B2B data enrichment?
- What is the goal of B2B data enrichment?
- Why should I use B2B data enrichment?
- An example of B2B data enrichment
- Cleansing B2B Data
- How can you apply this information to your business?
- Top 10 Data Enrichment Services
In this article I’m going to answer all your questions, from “What is data enrichment?” to “Which tools should I use?”. Let’s get to it!
What is B2B data enrichment?
B2B data enrichment is the process of adding additional information to an existing database.
Businesses often perform data enrichment to learn more about their existing customers, or to build a better prospect list for their sales team to make use of.
By enriching data with additional details, such as firmographics or decision-maker contacts, companies gain deeper insights into their target audience, leading to more personalized communication and data-driven decision-making. Ultimately, B2B data enrichment supports business growth and success by driving more efficient and targeted strategies.
What is the goal of B2B data enrichment?
The desired outcome of B2B data enrichment is to improve the quality, accuracy, and value of a company's existing data on other businesses. This process typically involves adding, updating, or validating information to enhance the depth and usability of the data. The primary goals of B2B data enrichment are:\
- Improved data accuracy: Ensuring that the data is correct, up-to-date, and consistent, thereby reducing errors and inaccuracies in decision-making processes.
- Enhanced data segmentation: Enabling better targeting and segmentation of businesses based on specific attributes, such as industry, company size, or revenue. This allows for more effective marketing and sales efforts.
- Increased lead generation and conversion: Identifying new business opportunities and prospects by filling in gaps in the existing data, which leads to more targeted and successful sales and marketing campaigns.
- Better customer insights: Gaining a deeper understanding of the target audience by enriching the data with additional information, such as technographic data, decision-maker contact details, or firmographic data. This helps businesses tailor their products, services, and communication to their clients' needs.
- Personalized communication: Creating customized and relevant content for each segment of the target audience based on enriched data, improving customer engagement and satisfaction.
- Enhanced data analysis and decision-making: Providing a more comprehensive view of the market landscape and helping companies make data-driven decisions to stay ahead of the competition.
- Improved data hygiene: Regularly updating and cleaning the data helps maintain its accuracy and relevance, reducing the risk of wasted resources on outdated or incorrect information.
Overall, B2B data enrichment aims to support better decision-making, improve marketing and sales efforts, and ultimately drive growth and success for businesses.
Why should I use B2B data enrichment?
Companies need data enrichment to enhance data accuracy, ensuring reliable and informed decision-making. The process allows for better targeting and segmentation, optimizing marketing and sales efforts. Additionally, data enrichment provides deeper customer insights, enabling businesses to personalize their communication and offerings, ultimately driving growth and customer satisfaction.
Most often, companies require additional information after a contact is added to their database.
This is due to the fact that the initial data collected on a new lead is often minimal and does not include much of the information a company needs to move that prospect closer to a sale.
An example of B2B data enrichment
We at Coldlytics source thousands of leads for our customers every day.
When we start building a database, the first thing we do is identify as many companies as possible that match the target criteria.
Target Audience: Restaurant owners in Florence, KY.
We build a list of as many restaurants as possible in Florence, and at this stage, the information collected is minimal and requires appending through data enrichment.
Because this new database is going to be used for outbound marketing (cold email, cold calling or direct mail) by the client, we need to enrich the prospect list/database with the owner’s name and their email address, phone number and address.
We employ many different techniques to collect this information. All data we source is pulled from the public domain, but much of it is often in places over looked by similar platforms. We have a team of human researchers that are specialists in finding contact information. This gives us the ability to find as many contacts as possible for our customers while building a fresh list that no one else has as it’s been built from scratch.
Cleansing B2B Data
Cleansing B2B data, put simply, is the act of removing information that is unwanted or inaccurate. Following the example from above, the client who requested this list is using it for outbound marketing, particularly cold email, and therefore requires every lead in this database to have an email address. We cleanse the database by removing all contacts that didn’t get enriched with an email address by our research team as these prospects are no longer of use in this database.
The 4 Main Types of B2B Data
There are four main types of B2B data:
Demographic Data
According to Investopedia “Demographic data refers to socioeconomic information expressed statistically, including employment, education, income, marriage rates, birth and death rates, and more.” This type of information is extremely helpful in segmenting your target audience.
Firmographic Data
Information about a company such as location, employee headcount, founding year, revenue, number of locations and so on. Where demographic data describes the individual, firmographic data describes the company.
Technographic Data
Refers to the type of technology used by a particular company. Some examples can include what CRM software a company may use, what advertising pixels they have installed on their website, whether they use Mac or PCs and so on. This is useful in qualifying your prospect based on similarities between your prospects and your ideal customers.
Intent Data
Intent data is based on “sales triggers”. This can be measured by time or actions that have positive implications for your sales process. An example of intent data would be a customer spending more than 30 seconds on your product page, adding an item to their cart, or hiring new employees. All of these are examples of intent data that tells you a customer is taking actions that you know correlate with advancing the prospect through your sales cycle.
**How can you apply this information to your business?**
To get the most out of this information for your business, consider the following actions.
1. Assess your current data
Evaluate the quality and completeness of your existing data. Identify gaps, inconsistencies, and outdated information that may impact your business decision-making, marketing, and sales efforts.
2. Choose a data enrichment provider
Research and select a reputable data enrichment provider or tool, such as Coldlytics, that can address your specific needs. Consider factors such as the provider's data sourcing methods, accuracy, freshness of their data, and industry expertise.
3. Define your enrichment goals
Identify the specific objectives you aim to achieve through data enrichment, such as improved lead generation, better targeting and segmentation, or more personalized communication with clients.
4. Enrich your data
Collaborate with the chosen provider or use the selected tool to enrich your data based on your objectives. This may involve adding, updating, or validating information relevant to your business needs.
5. Integrate enriched data into your processes
Update your existing CRM, marketing automation, or analytics tools with the enriched data to enable more targeted and effective marketing and sales campaigns.
6. Monitor and measure results
Track the impact of data enrichment on your business performance, such as conversion rates, customer engagement, or revenue growth. Use these insights to refine your enrichment strategy and continuously improve your data quality.
7. Maintain data hygiene
Regularly review and update your data to ensure it remains accurate and relevant. You can have Coldlytics or your selected provider refresh your database as often as you wish. This helps minimize wasted resources on outdated or incorrect information and maximizes the benefits of data enrichment for your business.
Top 10 Data Enrichment Services
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Clearbit is a leading data enrichment and intelligence platform that empowers businesses to enhance their marketing, sales, and customer support efforts.
With a suite of powerful tools, Clearbit offers real-time insights into companies and contacts, allowing businesses to make data-driven decisions and create personalized experiences for their clients.
Their solutions include lead enrichment, contact details, company information, and risk assessment, enabling better targeting, segmentation, and lead scoring.
Clearbit's API and integrations with popular CRM and marketing automation platforms make it an accessible and valuable resource for businesses looking to harness the power of accurate and up-to-date B2B data.
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Zoominfo is a prominent B2B data intelligence platform that provides businesses with comprehensive company and contact information, facilitating targeted marketing and sales efforts.
With an extensive database that includes firmographic, technographic, and contact details, ZoomInfo enables companies to identify and connect with the right prospects, improving lead generation and conversion rates.
Leveraging advanced data-gathering techniques, artificial intelligence, and machine learning, ZoomInfo ensures that their data is accurate and up-to-date.
The platform offers seamless integration with popular CRM and marketing automation systems, allowing businesses to streamline their workflows and make more informed, data-driven decisions to drive growth and success.
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Dun & Bradstreet is a renowned global provider of business data and analytics, offering businesses valuable insights and actionable intelligence to make informed decisions.
With a vast database that spans firmographic data, credit information, and risk analysis, D&B helps businesses assess the credibility and financial stability of their partners, suppliers, and customers.
Their data solutions enable companies to improve their targeting and segmentation, enhance lead generation, and reduce risk exposure in their operations.
By integrating with popular CRM and marketing automation platforms, Dun & Bradstreet ensures that their clients can access and utilize high-quality data seamlessly, fostering better decision-making, increased efficiency, and overall business growth.
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FullContact is an innovative data enrichment and identity resolution platform that specializes in providing businesses with comprehensive customer insights and data solutions.
By consolidating disparate customer data points and enriching them with relevant information, FullContact enables businesses to gain a holistic understanding of their clients, which in turn facilitates more personalized marketing, sales, and customer support strategies.
Their suite of products includes contact and company data enrichment, audience segmentation, and privacy-compliant identity resolution.
With API access and seamless integration with popular CRM and marketing automation tools, FullContact empowers businesses to leverage accurate and up-to-date data to make informed decisions, enhance customer engagement, and drive overall business success.
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Experian is a global data services provider, offering a wide range of data enrichment solutions for businesses to make informed and data-driven decisions.
Their extensive suite of products includes consumer and business data, contact information, and credit information, catering to various industries and business needs. Experian helps businesses enhance their marketing and sales strategies by providing accurate and up-to-date information for better targeting, segmentation, and lead generation.
In addition to data enrichment, Experian also offers credit reporting, fraud prevention, and risk management services, enabling businesses to minimize risk exposure and maintain financial stability.
With seamless integration capabilities into popular CRM and marketing automation platforms, Experian empowers businesses to maximize the value of their data and drive growth and success.
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Datanyze is a specialized data enrichment platform focusing on providing businesses with valuable technographic data insights.
By uncovering the technology stack used by companies, Datanyze enables businesses to make informed decisions and target their marketing and sales efforts more effectively.
Their comprehensive database includes company and contact information, which complements the technographic data and enhances lead generation and prospecting.
Datanyze's platform offers seamless integration with popular CRM and marketing automation tools, allowing businesses to access and utilize enriched data efficiently.
By empowering companies with accurate and up-to-date information, Datanyze helps businesses optimize their sales and marketing strategies, fueling growth and fostering success.
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Leadspace is a B2B customer data platform that combines data enrichment, lead scoring, and predictive analytics to drive targeted marketing and sales efforts.
By consolidating and enriching disparate data sources, Leadspace provides businesses with a comprehensive and accurate view of their prospects, enabling them to focus on high-potential leads.
The platform uses artificial intelligence and machine learning to analyze and score leads based on their propensity to convert, ensuring that businesses allocate resources efficiently.
With seamless integration into popular CRM and marketing automation tools, Leadspace enables businesses to streamline their workflows and make data-driven decisions that foster growth and success.
By offering a unified platform for data enrichment and lead scoring, Leadspace empowers companies to optimize their sales and marketing strategies and achieve better results.
Data Axle is a comprehensive data enrichment and marketing services provider that helps businesses leverage accurate and up-to-date contact and company data for better decision-making.
Their extensive database spans a wide range of industries, offering valuable insights for targeted marketing and sales efforts.
Data Axle's solutions include data enrichment services, audience segmentation, and multichannel marketing campaigns, empowering businesses to connect with the right prospects and enhance customer engagement.
With seamless integration into popular CRM and marketing automation platforms, Data Axle ensures that businesses can access and utilize enriched data efficiently, driving growth and success.
By providing high-quality data and marketing intelligence, Data Axle enables companies to optimize their sales and marketing strategies and achieve better results.
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Coldlytics is a lead provider built specifically for outbound marketing.
With it’s self-serve interface, Coldlytics allows you to easily request a list of leads based on your ideal customer profile.
Lists are built using a combination of web scraping paired with expert human researchers who specialize in finding contact information.
This gives Coldlytics users and edge over the competition as they are able to find the freshest leads, with contact information many of the other alternative data companies can’t provide.
Competitively, Coldlytics doesn’t require any long term contracts. Our pricing is straightforward and available on the homepage presented in a monthly basis.
