Why lead enrichment is necessary for crm and methods of lead enrichment
It’s no hidden fact that organizations need leads to provide to their sales team. Companies use different marketing methods like Direct mail, Telemarketing, Networking etc., for generating leads. The leads that are generated are then stored in the CRM software for further use. But the chances of the collected data being the qualified one is rare. Imagine the sales reps hitting the road with all the collected data and getting exhausted by chasing all the customers instead of just the ones that need to be targeted. Through the process of Lead Enrichment, the collected data can be skimmed down to the most relevant records which in turn help the sales team in doing their jobs better. Lead Enrichment also helps in properly executing digital marketing strategies, advertising campaigns, e-mail campaigns and other approaches so that identifying the targets gets much easier.
Data Decay can be quoted as one of the other reasons why Lead Enrichment is required. Data Decay happens when the existing data in the CRM gets outdated over time. For example,a company moving its office from one place to another, a manager moving from the existing company to another etc., all comes under Data Decay. Lead Enrichment should be maintained across the CRM system to ensure that constant update of leads happens, in order to minimize data decay.
METHODS FOR LEAD ENRICHMENT
INTELLIGENT FORMS INSTEAD OF SHORTER ONES
Imagine that a marketing manager of a corporate has designed a visitor form for his website visitors. The chances of the form to get filled will increase if it’s kept short instead of a lengthy one. But by following this process the marketer will miss out on the acquisition of several lead details.
The manager can use the help of intelligent forms which is a two-step process. These forms ask for minimal details like name, company, title & e-mail address on the first conversion and details like phone number, industry type, company revenues, employee count etc. in the second one without asking for the details that were previously asked.
It is a method that is used to enrich the already existing leads in the CRM Database. Companies use the help of software and sometimes human reviewers to extract the information about people and companies from the internet. Usually utilized in integration with both CRM and marketing automation systems, these intelligence processes allow users to enhance lead records with a simple process, narrowing down only the data elements they require from the compiled intelligence data.
LEAD ENRICHMENT — ESSENTIAL FOR CRM — ESSENTIAL FOR YOUR BUSINESS
Having CRM software is necessary to run your business in today’s market, whether it’s a startup or an established business. And Lead Enrichment is an essential element to maintain lead quality. Because at the end of the day, it’ll be beneficial for both the sales team as well as the company if the quality leads don’t end up in a pile of irrelevant data.