The quality of your database has a direct influence on the success of your marketing efforts. So many companies are missing out on great lead generation opportunities due to the simple fact that their databases aren’t up to standard. Even if you’re using the most advanced marketing technology solutions, it’s not going to be very effective without clean, accurate and complete data. With data enrichment, you can add significant value to the everyday data that your organisation creates, collects, processes and stores. According to Netprospex’s State of Marketing Data report, “a large number of demand gen marketers are prioritising lead quality over lead volume.” Here’s how to build a quality lead list:
Identify your target customer
We’ve previously mentioned the importance of identifying your target customer – and it’s a pretty important step. You can start by analysing your existing customers’ behavioural patterns and identify the features that are unique to specific buyer groups. Create a list of new business prospects who share similar characteristics to your existing customers, and are therefore more likely to become customers. If you need new customers, do some industry research on your potential audience.
Get a good source of leads
Now that you’ve identified your target customers, you can decide if you want to buy a lead list or build your own one? Your company's internal marketing database is the best place to source leads while building out targeted email lists for future campaigns. Alternatively, you can find different sources offering business contacts with email addresses. Make sure to carefully evaluate the most valuable and most effective source for your campaigns.
Segment your prospects
By segmenting your prospects, you can target the right person at the right time—making your marketing efforts more effective. And by identifying which prospects are the most profitable, you can allocate more of your marketing spend to acquiring similar prospects. Segmenting your prospects into different subcategories, will help you create more targeted experiences, which will most likely lead to people being more interested in your offer and lead to more sales.
Organise your leads
To make things easier, organise all the information you’ve collated into a spreadsheet. Organise your leads by lifecycle stage, or whether it’s qualified or not. Create a template with all the necessary information with details like title, first name, last name, phone number, email, geographical location, lead source, and notes. Organising this information from the start will work in your favour when you have to deal with a huge number of leads in the future. If you are a large company and use a CRM solution, import spreadsheets into your CRM to increase efficiency.
When done correctly, data enrichment will help you get more valuable insights from your data, and lead to greater lead quality. Set clear goals and outline what you wish to achieve through data enrichment. If you want to know more about how quality data will improve your marketing efforts, download our guide.