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What Is Lead Enrichment And Why Do Sales Teams Love It?

What Is Lead Enrichment And Why Do Sales Teams Love It?

How would you feel if someone served you a pair of buns with some lettuce in between and called it a “burger”? That’s how most reps feel when they’re assigned leads with insufficient information.

Often, you’ll find that incoming leads have quite a few missing data fields. This could be their company name, location, size, or other important information that is crucial in understanding how to deal with them. And so, these leads need to be enriched with more data before routing.

But what does lead enrichment even mean?

What is Lead Enrichment? 

Lead enrichment is the process of verifying the existing data of a lead and enhancing it with more valuable information. This crucial process requires not just any data, but only that from a trusted data provider who can provide accurate, quality data. 

“Lead enrichment ensures that the sales folks are enabled with the right information to qualify prospects and reach out to the ones that make the most sense for the point in time. It helps in weeding out the irrelevant ones.”

—Sanket Shah, Enterprise Account Executive at Slintel

The 4 Types of Lead Enrichment Data

The 4 Types of Lead Enrichment Data

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There are several important data fields that need filling before a lead is assigned to a rep. Some of the most important kinds are listed below:

1. Firmographic Data

Firmographics refers to attributes such as company size, funding information, industries served, total revenue, market share, and other information that can help you profile companies. This data helps you understand whether the company is a good fit for your product or service.

2. Technographic Data

Technographic data refers to the technologies used by the firm for various operations like sales, marketing, human resources, customer success, etc. This information helps you understand which other companies the said firm is currently subscribed to.

3. Demographics and Psychographics

These terms refer to information pertaining to the individual lead as opposed to their company. Demographics is the study of people based on quantitative variables such as gender, age, race, ethnicity, first language, and employment. Psychographics attempts to reveal why people buy so you can understand how to influence their purchase decision.

4. Contact Info

Needless to say, without accurate contact information, all your research so far is for nothing. That’s why you need leads with accurate email addresses or phone numbers, as well as alternate leads if the initial lead is unresponsive.

4 Dangers of Poor Quality Lead Enrichment

It is common knowledge that the shorter a web form, the higher the conversion rate. That’s why companies include as few data fields in the web form as possible and proceed to enrich those leads later with relevant information.

However, if the lead enrichment that follows is of poor quality, you’ll end up in a serious detriment. Let’s find out how:

  1. Obviously, the easiest way to mess up your lead enrichment is to fill up the missing fields with incorrect information that could harm your communication with them.
  2. Poor lead enrichment creates a domino effect by wreaking havoc on all subsequent processes that depend on quality lead data such as lead-to-account matching, lead scoring, lead qualification, lead routing, etc. 
Bad Lead Enrichment Data = Bad Everything

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  1. More importantly, poor lead enrichment efforts may end up erasing correct information in existing data fields and update them with incorrect or outdated information. Devastating!
  2. Poor quality lead enrichment is ultimately a waste of the time and effort you put into your lead generation efforts. So let’s play it safe and find out how to ensure quality lead enrichment.

Enhanced Lead Enrichment With Slintel 

Manual lead enrichment isn’t an option due to the time-sensitive nature of fresh leads. Leads need to be contacted within the first hour of engagement and so, there’s not even a minute to spare for activities like lead enrichment or lead routing to be conducted manually. 

Conducting accurate lead enrichment within such a short time period seems next to impossible. However, using an automated lead enrichment tool like Slintel might be just what you need to speed up the process.

Slintel enriches the records in your CRM with just the right lead insights you’ll need to successfully nurture and close deals with them. Let’s look at how lead enrichment with Slintel gives you the upper hand.

Pitch Better With The Help of Key Technographic Insights

Before you head into any sales call, you need to figure out a way to understand how your product fits into your customer’s current ecosystem. And what’s the easiest way to do that?

Technographic insights!

Technographics, as we discussed earlier, is the profiling of organizations based on their current software stack, technology usage behavior, and software adoption/rejection patterns. Slintel tracks over 30,000 technologies in 14.5 million companies through data from various sources like websites, social media profiles, and job postings.

Here’s a sneak peek at our technographic insights page for Mailchimp:

Technographic Insights for Lead Enrichment

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With the right technographic insights at your disposal, you can refine your pitch by keeping industry trends in mind with regard to tech adoption, as well as market share patterns and competitive insights.

You can explore more technographic insights into the technologies of your choice here!

“Imagine the potential to increase the overall sales efficiency with accurate lead enrichment. It’s like ensuring the quiver is full while the reps battle it out.”

—Sanket Shah

Access Extensive and Accurate Data Passed Through Multiple Levels of Validation

Slintel tracks over 286 million leads in over 14.5 million companies.

That’s how we enable you to easily look up any kind of lead enrichment data you require for a particular lead. Be it contact info, firmographics, psychographics, or contact information—you can access all this with a single click.

Accurate Data for Lead Enrichment

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The contact information we provide passes through several levels of validation and is organized by the stage they’re in (Grade B, A, and A+). This helps you ensure that the information you have is up-to-date. 

“Grade B implies that the contact information has gone through the basic levels of grading, with a 30% chance of bounce. Contact information graded A and A+ is more reliable because it goes through extra levels of verification.”

-Ryan Aneja, Business Development Team lead at 6sense

Moreover, Slintel also offers you multiple alternate leads so you can reach out to the one with the highest decision-making authority. Most importantly, we don’t just enrich your lead data, we also update existing data fields for the records in your CRM with the most recent information. 

Take a look at this video, where we explain how to unlock and export contact details using our Chrome extension.

Prioritize the Leads That Matter With Buying Intent

Your leads are now enriched and polished to the core with accurate information. Great! But how do you know when they’re ready to buy?

Enter buying intent.

Buying Intent for Lead Enrichment

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The buying intent of an individual or organization can be defined as their likelihood to purchase a product or service. An entity’s buying intent can be inferred by examining and evaluating behavior such as webpage visits, media consumption, requests, collateral downloads, event participation, and form completions.

Slintel’s buying intent score will help you determine which accounts are ready to buy from you at the moment. This helps you prioritize selective accounts in your pipeline and target the active, high-intent leads who are ready to buy from you. 

A Healthy CRM Makes For a Happy Sales Team

Few things are more annoying for a sales rep than being made to work with a CRM plagued by records with incomplete, inaccurate lead info. Similarly, few things are as detrimental to your revenue than poor quality lead info.

Invest in a lead enrichment tool like Slintel that can save you revenue and your reps, their valuable time. That’s how you can be sure you have 24/7 access to the right information you need at the right time.

With our accurate data and valuable technographic insights, you can proceed to pitch to the right leads and boost your conversion rates by a huge margin. Happy selling!

Roshan Nair

Roshan Nair

Content Marketing today, caffeine relapse tomorrow. Hope to tell a great story one day. I consume satire and horror in the meantime... Say, would you watch it if I made a satirical horror movie?

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