A recent MIT study found that inaccurately updated CRM data is causing companies to make poor decisions and costing them nearly $3 trillion. Hence, CRM data enrichment is essential for businesses. Well, one question: How can we close more deals with CRM data enrichment?
Don’t worry, we cover everything you need to know about CRM data enrichment in this article. So let’s get started!
An Overview of CRM Data
CRM data is Information collected from website visitors, potential customers, current customers, leads, and anyone else who interacts with your business.
This is first-hand data collected from your current clients and prospects that is securely stored and integrated into your CRM automation software. Data in CRM is an integral part of the customer experience and relationship. Now, let’s take a more careful look at the four main types of CRM data.
What Are the Types of CRM Data?
Sales marketing and customer service teams segment their customer data based on specific parameters such as intent, accuracy, uniqueness, relevance, level of importance, and data sources.
In this way, they can generate the right types of data to achieve specific goals, such as generating qualified leads and moving them to the bottom of the sales funnel.
Below are the four types of data available in CRM systems.
1. Identity Data
As the name suggests, the purpose of CRM identity data is to identify your customers and communicate with them. This type of CRM data usually includes:
- Names (first and last name, job title, preferences)
- Contact information (phone number, email address)
- Geographic data (postal address, time zone, country, city)
- Online presence (social media and website activities)
- Private information (date of birth, gender, marital status, etc.)
If you want to know how this data is obtained, we must say that customers themselves often give this data to businesses. They often offer this data when you buy, subscribe to an email newsletter, or create an account.
This identity data or first-party data is unique to a particular client or prospect. You can find this data in a specific record in your CRM system or other business database.
Apart from identifying records, this type of CRM data facilitates communication with prospects and customers.
2. Descriptive Data
The second type of CRM data is descriptive information that includes the business lifestyle of your customers. You can consider information such as workplace and industry type as descriptive data. Here are some of the descriptive data:
- Education (degree, university name)
- Firmographic data (job title, current company name, industry, location, company size)
- Information related to brands, services, or products (product preferences, organizational affiliation, and membership in loyalty campaigns)
Perhaps you are curious to know how the descriptive data of CRMs can benefit your business.
Descriptive data helps you better understand your potential customers’ needs. In addition, it can help you avoid collecting redundant and useless information. As a result, you can help personalize and tailor your messages to your customers depending on where they are in the sales funnel.
On top of that, sales teams can take advantage of descriptive data to look up or filter multiple records at once.
Descriptive data offers insights into specific records to help customer service, sales, or marketing teams have better engagement with leads.
For example, knowing identity data, such as someone’s name during sales activities, will help you start a conversation with prospective leads. However, knowing their job position, industry, and company size will help you find and tailor a solution to your prospect’s unique needs.
3. Quantitative Data
Qualitative CRM data includes invaluable information such as attitudes, motivations, and behaviors related to purchase decisions or customer journeys.
In other words, qualitative information focuses on how your customers feel. This type of data is usually collected from various sources, including surveys, feedback, reviews, questionnaires, and transcripts of customer support interactions.
Here’s some of the qualitative or behavioral data:
- Customer service rating (for example, how do you rate the service provided?)
- Purchase satisfaction rating (for example, are you satisfied with our product quality?)
- Explanation of the customer journey (for example, why did you choose our brand?)
- Explanation of purchase decision (for example, why did you choose this product feature?)
Qualitative CRM data ultimately helps you better understand customer behavior and identify purchase triggers. These valuable insights can improve your relationships with customers and increase your sales.
4. Quantitative data
Quantitative CRM data includes customer interactions and data that can be measured, such as the number of purchases, the number of emails sent or opened, the click-through rate or engagement rate, the number of products or items in the shopping cart, the amount of potential income of a current transaction, etc. Here are some quantitative data examples:
- How many purchases has each customer made with your company in a certain period of time?
- How often do customers engage with your business on social media?
- How often do potential customers get in touch with your company directly?
- What is the average total purchase value per customer?
- What is the average time they spend on your website?
Having said that, quantitative CRM data provides insights into how customers interact with your brand.
It’s important to know that To accurately analyze quantitative CRM data, you need to consider all types of interactions, such as the total number of tickets registered by customers with the customer service team or comments for social media posts.
What Is CRM Data Enrichment?
Now that you know what CRM data is and what types it is, let’s move on to CRM data enrichment.
CRM data enrichment includes the process of collecting, cleaning, and adding data related to existing CRM records using algorithms from external data sources and APIs.
CRM data enrichment aims to help businesses keep their customer database up-to-date, valid, and clean.
What Is the Importance of CRM Data Enrichment?
CRM data enrichment is significant for any business and especially for sales teams; among other things, it helps them access an enriched and refined customer database and leverage it throughout the sales funnel process.
Moreover, the enriched CRM data enables salespeople to understand their potential and current customers better and have a stronger connection and more interaction with them in the future.
As a result, based on their customers’ information, sellers can segment them into specific groups and implement effective marketing campaigns for each category.
Most importantly, CRM data enrichment helps businesses focus more on deals by collecting accurate and up-to-date data. Consequently, they can close deals faster with proper decision-making and management.
5 Best CRM Data Enrichment Tools
Now you know why data enrichment is important for businesses. So let’s take a look at the best CRM data enrichment tools and compare them to see which one is more useful for our business.
1. CUFinder
CUFinder is one of the best CRM data enrichment automation services, and it is known for providing the most comprehensive and accurate source of enriched data from companies and contacts. This platform guarantees access to verified and high-quality data for B2B businesses looking to expand their cubase and close more deals.
With the 27 professional enrichment services of CUFinder, you can get direct access to over 419 million contacts and over 262 million companies’ profiles in real time.
All of CUFinder’s enrichment services can complete your missing CRM data, find & correct inaccurate data, and identify & remove duplicate data in seconds.
All this data can be instantly and easily synced with popular CRM systems and automation marketing software, such as HubSpot, Salesforce, Pipedrive, Copper, Zoho, SalesLoft, Outreach, Zapire, Close CRM, and more.
Furthermore, you can monitor all the activities of potential customer behavioral patterns on social media and websites.
Grab 15 free verified leads now!
Pros
- Easy to use
- Transparent and flexible pricing plans
- 24/7 customer support
- GDPR and CCPA compliance
- Fast and easy integration
- High-quality B2B data
- Over 98% accuracy rate
- CSV export
- Worldwide coverage
- Free email verification
- API and CRM integration
- Contact and company data enrichment
Cons
- Limited free credits
2. UpLead
UpLead is another data enrichment platform with a B2B database that allows users to create their own search lists. With UpLead you can have access to detailed data on over 140 million B2B contacts.
Pros
- Sales intelligence feature
- Automatic data enrichment
- Real time email verification
- Personalized lead data
- Advanced search filters
- Easy to set up
- 95% data accuracy
Cons
- Limited free credits
- Lower accuracy on phone number data based on user reports
3. Clearbit
Clearbit is one of the powerful customer intelligence tools that are ideal for B2B businesses. This platform collects B2B data from more than 250 public and private sources. Businesses can access enriched data and integrate them with their CRM suite.
Pros
- Advanced filtering for customer segmentation
- B2B company and contact data
- Precision data matching
- Easy and fast CRM integration
- Extensive data enrichment
Cons
- No free trial
- Expensive
- Non-transparent prices
4. LeadGenius
LeadGenius is an intelligence lead generation platform with an extensive B2B sales leads database. This helps sales teams engage productively with their ideal prospects by enriching CRM data and customer records.
Pros
- High-quality data on scale
- Global contact and account intelligence
- Compliance with GDPR and LGPD
- 110+ insights on contacts and companies
- Personalized datasets based on custom parameters
Cons
- No free trial
- Lack of access to pricing packages
- Very sophisticated website
5. ZoomInfo
ZoomInfo is one of the oldest B2B data enrichment tools in the market, which is known for its innovative features and product performance. This platform enables businesses to access the information of more than 260 million business profiles.
Pros
- Simple API integration
- B2B contact data
- Intent data
- Advanced technographic insights
- Various data enrichment services
- Compliance with security and privacy standards
Cons
- High-priced and not-transparent pricing packages
- Sophisticated website
- Incorrect data as reported by users
Wrapping Up
Back to the first question: How do we close more deals with CRM data enrichment? By leveraging CRM data enrichment, sales teams can gain valuable insights into sales opportunities and leads. They can also make the most of all kinds of CRM data to better understand their prospects and operational data enrichment processes.
The bottom line is that effectively collecting CRM enrichment data improves sales performance, marketing solutions offers, and, ultimately, customer relationships to win more deals.
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