What is lead enrichment and how can it help with sales?

Businesses often work on lead generation and lead enrichment, contacting prospects individually in hopes of getting them to collaborate. It can be frustrating when many of those leads end up ignoring you or decide they don’t want to work with you after you’ve spent a lot of time communicating with them.

This can happen because the lead wasn’t actually good or you didn’t communicate your message properly. It can be difficult to know how to approach a lead if you don’t know a lot about them.

Lead fortification can help solve this problem.

What is lead fortification?

Lead enrichment refers to collecting additional data about specific leads. For example, if you are generating a good lead for your B2B service, you may want to search for additional information such as a company’s email address, phone number, number of employees, competitive position, buying behavior, etc.

With respect to individuals, lead enrichment data may include age, gender, job position, marital status, interests, etc.

How can lead enrichment help with sales?

Lead enrichment data can help you achieve a higher response rate and higher sales rate through:

  • Increased efficiency. Any line can prove to be unsuitable at any point. The more you know about a potential lead, the better you know if they’re a good fit for you and if you should reach out to them. This helps save time that you might have wasted communicating with an unsuitable lead.
  • More tailored communication. By getting to know a particular lead, you’ll know the best way to communicate with them. You have a clear picture of their pain points and ways to get them to work with you. The lead feels understood and connected to you.
  • Increased retention rates. Because lead enrichment data helps you understand the lead much better, it’s more likely to stick with you over the long term.
  • Improved efficiency. By only contacting the highest potential leads, you no longer waste time contacting those who aren’t interested. Ultimately, this means that you will achieve a higher number of conversions.

How to collect data for lead enrichment?

You can collect lead enrichment data yourself by using search engines, social media and analyzing a company’s official website. If you choose to collect the information manually, make sure the sources you use are reputable and that you are collecting the information lawfully.

On the other hand, you can collect this data much faster with special tools. In this case, you can save a lot of time for research, but you will have to spend some money. However, that money usually pays off when you calculate how much it would cost you to do lead enrichment research yourself.

If you decide to use another company’s lead enrichment tools, choose that company carefully. Make sure the company focuses on the type of data you need. For example, consider whether you need B2C or B2B data, how much data you need, how much data you need, and how reliable the data enrichment company is.

It’s okay to switch the software you’re using until you find the right match. Just make sure you get what you need and the information will actually help make your sales activities easier!

bottom line

Instead of sending out hundreds of emails to potential leads you don’t know much about, start doing additional research. Using lead enrichment data, you can send tailored messages to the highest potential leads, saving you significant time and money.

Article and permission for publication here provided by Candice Outreach. Originally written for Supply Chain Game Changer and published on November 23, 2021.

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