Photo bySlyvia J Dougherty
With every passing minute, the amount of data that organizations accumulate keeps increasing. Today, businesses have vast datasets that they want to use to optimize their marketing campaigns and improve business outcomes. However, most of these datasets need to be more structured, accurate, and reliable. Businesses need data enrichment to refine this data and make it ready to use for various campaigns. The importance of data enrichment grows manifold for email marketing campaigns since ensuring your emails are reaching just the right audience is vital.
Let’s look at what data enrichment is, its benefits, and how it can elevate your email marketing campaigns.
What is Data Enrichment
Data enrichment can be viewed as a process combining the first-party data collected from internal sources by an organization with the external data collected from other third-party sources. In other words, data enrichment is the process of enhancing the present data information by adding the missing data points.
Types of Data Enrichment
· Demographic Data Enrichment
Demographic data includes information about prospects’ income, marital status, family background, socio-economic status, and other factors that impact their position in society. Demographic data enrichment involves amending the demographic factors in your prospect database. This enrichment lets you tweak your messaging according to your target audience’s demographics.
· Geographic Data Enrichment
Today, people often change their base locations and move to different cities and countries. This results in revised postal codes and updated addresses. This also means that organizations have to constantly update their database with the latest information. Geographic data enrichment helps you update the geographical data in your prospect database. Knowing your prospects’ current location is vital if you want to personalize your marketing communication. The time you send the email campaigns will vary according to the geographic location of your prospects.
· Behavioral Data Enrichment
Behavioral data enrichment is about studying, analyzing, and adding behavioral patterns of customers to the existing datasets. The parameters that are recorded are a significant influencing factor in customers’ buying decisions. These patterns can include customer preferences, likes, dislikes, interest areas, and lifestyles. Behavioral data enrichment can help you personalize your email and other marketing campaigns. The most significant impact will be the focused approach to your marketing efforts.
· Intent-based Data Enrichment
Customer intent data helps organizations understand the buying behavior of their target audience and predict future trends. Data enrichment based on user intent is about obtaining past purchase history and the factors that influence the customers’ buying decisions. These insights help understand what your target audience expects from particular products and services.
· Technology Usage-based Data Enrichment
Technology usage data provides insights into which platforms, apps, and tools the prospect uses the most. It also helps you understand which operating system and device they use to access information about products and services they require. Enriching data according to their technology use helps you understand their tech savvy and their preferred form of content (Text, visual, audio) and also the best time to send out your marketing emails and other campaigns.
Benefits of Data Enrichment for Email Marketing Campaigns
When it comes to email marketing, the accuracy and reliability of your contact database play a vital role in dictating the success of your campaign. Poor quality data hampers the progress of your email marketing campaigns, as most of your emails might not reach the right prospects. You end up wasting your time, resources, and efforts on the wrong target audience. However, data enrichment will help you optimize your email marketing efforts. Here are some of the top benefits of enriching data for your email campaigns –
· Focused Email Marketing Campaigns
You know if the target audience fits your ideal customer profile when you have a reliable and accurate contact database. This helps you focus your email marketing efforts on the group that is highly likely to respond and convert into clients. Effective data enrichment enables smarter segmentation of your audience. Granular segments allow for more effective targeting according to customer expectations and needs.
· Improved Customer Experience
Today, the importance of personalized marketing communication is more than ever before. Customers have high expectations from organizations and want them to understand their needs and provide solutions to their problems. Data enrichment helps you understand that and design your email marketing campaigns to inform and benefit customers and help them make better buying decisions. This, in turn, enhances the customer experience and builds trust for the brand.
Targeting the wrong or unfit audience for your email marketing campaigns can result in a waste of time, cost, and resources. Moreover, you run the risk of losing out on customers and their trust. However, enriched data saves you from targeting the wrong audience. This helps you optimize your resources, efforts, and costs. Data enrichment makes your email marketing efforts cost-efficient.
· New Approach to Personalized Communication
If your email marketing campaigns fail to meet your target audience’s expectations, your efforts are bound to return fruitless. Moreover, you miss the opportunity to create a long-term connection with your audience. However, personalizing your email marketing content is effective in engaging and connecting with your audience. Data enrichment helps you take a new approach to personalize your email communication.
How to Approach Data Enrichment to Elevate your Email Marketing Campaigns
· Ensure High-quality Data
Data enrichment is a crucial factor in deciding the impact of your email marketing campaigns. Deploying high-quality data is the best way to get the most out of your email campaigns. Low-quality data can lead to incorrect decisions and hamper your email marketing efforts to a great extent. To ensure effective email communication, it is necessary to monitor the data quality constantly.
· Create a Robust Extract-Transform-Load Pipeline
Integrating the data with your current database becomes essential when you are looking to enrich your existing datasets. For this, the ETL process should be handled with precision. The ETL process can be broken down into the following three stages:
1. The Extraction phase: The existing database is used to extract information.
2. The Transformation phase: The data is enhanced and converted into a more usable format.
3. The Loading phase: The data is ready for use and is loaded into the existing database.
· Perform Data Segmentation
Grouping your data in segments based on similar traits and characteristics will help you better understand your buyer profile. This helps you narrow your focus on customers with higher buying intent and target your email marketing campaigns effectively. Segmentation during the data enrichment process enables you to determine your target market, build an ideal customer profile and predict the buying probability based on their past buying behaviors.
· Make it a Continuous Process
Data enrichment can never be just a one-off activity. The market demands keep on changing, and customer expectations keep evolving. This only means your email marketing efforts and brand communication also vary according to customer preferences. If you fail to consistently update and enrich your data, it will soon become irrelevant and adversely impact your email marketing campaigns.
You can leverage automated data enrichment solutions or partner with data solutions service providers that take a tech-driven approach to enrich your data and enhance its quality.
Many organizations have huge volumes of datasets for their business processes. Ensuring this data’s high quality, accuracy, and reliability becomes crucial to optimizing your email marketing and other campaigns. Data enrichment prevents organizations from facing data decay and the use of redundant data records.
You can partner with a bespoke B2B Data Services Provider to enrich your data and enhance its quality. This will save you time, money, and effort and ensure experts handle your data enrichment processes while achieving high data accuracy and optimizing your campaigns and business outcomes.