Lead Enrichment – What Is It And What Are Its Benefits?
If you are a sales rep, you will know that not a single day goes without analyzing the leads worth pursuing. Reaching out to relevant leads and understanding their requirements is a tricky job. You might find yourself in a very dicey situation when the new lead email IDs you find in your CRM turn out faulty. When an email bounces, the heartbeat skips, and you, as a sales rep, find it difficult to deal with the situation because you don’t know what to do next. However, note that this whole new ball game is totally avoidable!
Let us tell you about lead enrichment…
Going by the definition, lead enrichment is the intelligent way of structuring and gathering supportive data associated with the leads that you have enlisted in your database.
So, the purpose of lead enrichment is to understand that the relevant prospects you have jotted down and updated in your database are accurate, with as much data updated as possible about the leads.
Lead enrichment talks a lot about the company size, job role of the headliners, contact number, email id, industry type, and more. To be precise, lead enrichment is any information added to the record.
The sales team sorts the database to contact the qualified and genuine leads. Lead enrichment is done in two ways. The first way is when it is done by a sales team member manually, who carries out intensive research about the lead and the second way is through the usage of lead enrichment tools. These happen to be third-party software systems that enter the relevant data automatically whenever a lead enters. If you have a large organization and a massive number of headliners come in daily, you might find it pretty exasperating to keep a tab on each one.
In such a condition, third-party lead enrichment tools become necessary to enhance the workability of the entire process. Using the software can be beneficial for a sales rep like you. You can concentrate on outreach more and less on the researching part that happens to be more time-consuming. Lead enrichment is the mantra to get the job done correctly and timely. Things become more streamlined and systematic when you know where to begin and end. When you find out the vital information about the lead, you can serve the clients in a more personalized way to enhance the individual’s experience of working with you, and when the experience is better, the prospects of lead retention increase.
Now, let us discuss the various benefits of lead enrichment that are indispensable for an organization of any size.
- It improves the efficiency to perform several sales jobs.
- It acts as a roadmap to find out the decision-makers of a specific company because they are the core people of an organization.
- Through lead enrichment, spotting the influential people in an organization is possible.
- Lead enrichment paves the way for lead generation because data sourcing from varied sources other than the customers is easy. Hence, the conversion becomes more convenient. It doesn’t ask the customers to submit tons of data; as a result, people find it convenient to fill in the minimal data that is asked of them, leading to a surge in lead generation.
- Lead enrichment increases the performance of your sales team. The insights guide them to focus on the potential leads which turn into conversions. In fact, the information helps the reps to understand how a sale should be made for a full-proof conversion. Hence, ultimately the revenue increases.
- Lead generation forms can be pretty lengthy. But with automated lead enrichment, the lead generation form is short and sweet. Thus, not a single lead loses interest and leaves the page, and keeps the process of turning into a conversion unfulfilled.
- Using tools for lead enrichment paves the way for enhancing the understanding and cooperation between the teams.
- Automated lead enrichment facilitates data cleaning and sorting from an ocean of information to find the most relevant ones.
With the correct lead enrichment tools turning potential leads into conversion is a breeze. In fact, you do not have to put in much effort. Various sales intelligence tools help you to mine data automatically to get actionable insights into the traffic that comes in. Lead enrichment is mandatory to increase the lead-to-conversion rate, and it acts as a natural step towards proper business development.