If you work in the world of sales, the chances are that you’ve heard the term ‘lead enrichment.’ After all, it’s a crucial aspect of any business, as it provides your sales team with accurate information they can use to their advantage.
So, to help you approach lead enrichment in the right way, we introduce the concept in detail, suggest some simple methods you can implement, and run through the undeniable benefits of this approach.
By the end of this piece, you will have all the information you need to conduct lead enrichment within your company.
What is Lead Enrichment in Sales?
Lead enrichment is the practice of correcting and verifying information attached to a lead in order to improve your data collection. Typically, lead enrichment is done as a result of a combination between manual input and third-party automated data collection.
It’s important because lead enrichment enables your organization to verify its data. In other words, it ensures the information you have about your potential leads is current and relevant. Research shows that having accurate data at your company’s disposal can increase your closing rates by as much as 152%, which is a remarkable statistic to be faced with.
But how exactly do you take responsibility for lead enrichment at your company? Let’s find out.
Four Methods for Gathering Lead Enrichment Data
Here we go...
1. Landing Page Form
First and foremost, you can optimize the landing page of your website by including a relevant form. Prospects are encouraged to provide their accurate information in exchange for a special offer, a demo, or perhaps a free trial of your product. But you shouldn’t just settle for a simple form that requests name, email, and position.
When offering a free trial of your product, for instance, you can afford to request much more in-depth information. For instance, you can ask about the size and industry of the business, its geographic location, and the prospects’ professional details.
As this information is submitted by the lead themselves, it’s very likely to be accurate. So, our first lead enrichment method is a simple one - optimize your landing page with a comprehensive form that captures information from your leads. (Related: How to Get More Leads and Conversions on Your Landing Page Using SEMrush)
2. Social Media Search
A free and easy way to find out more about your potential leads is to utilize social media. While all social media sites have value, LinkedIn should be your starting point for lead enrichment. The best way to approach LinkedIn is to create a list of companies that fit the profile of your ideal client. You can then search LinkedIn for companies that fit this profile. Something that you will soon discover is that LinkedIn provides you with multiple crucial data points - for free.
You can find out things like a company’s size (number of employees), operating hours, and geographic location. You can also zero in on employees within the company that are most likely to interact with you and your product. Once you have your potential leads, it’s time to input them into a CRM.
3. Automate your Lead Enrichment
The more tasks you can automate within your company, the easier your life will be. Thankfully, there are several tools that you can use to automate the lead enrichment process, which will help you and your sales team chase down the right leads.
A great option to consider is LeadBoxer. What we love about this product is that it enables you to enrich leads without capturing data through a form. So, while we still recommend optimizing your landing page in this way, LeadBoxer provides another way of interacting with your website visitors. LeadBoxer then scores the leads that it captures on your site and lets your sales reps know who is most likely to close. In other words, it will save you a lot of time and effort when it comes to chasing down leads.
There are several other tools you can use to automate the enrichment process, including VisitorTrack and Crystal. But ultimately, it’s about getting a feel for what software works for you before signing up for your team.
4. Integrate with Your CRM
The next step is to integrate your chosen lead enrichment software with your sales team’s CRM. Every sales team has a different way of managing customer data, and this often poses a problem when it comes to lead enrichment.
After all, if your team isn’t singing from the same hymn sheet, data can be misplaced or inaccurately stored, which can cost your business time and money. If you don’t like the idea of integrating a separate piece of software with your current CRM, you can look to upgrade your team to an all-encompassing CRM that takes care of lead enrichment for you.
The likes of HubSpot and SugarCRM both fit the bill and come with lots of helpful features to enable you to uncover new leads and enrich the ones that you currently have. It won’t surprise you to hear us recommend a comprehensive CRM, as it’s extremely difficult to coordinate and manage your sales team without one.
The Benefits of Lead Enrichment
Now that we’ve introduced you to some simple lead enrichment methods let’s look at why this process is beneficial.
Lead enrichment is a term that many of us are familiar with, but we don’t necessarily put an action plan in place to improve the quality of information available to our sales teams. However, this isn’t a mistake you can afford to make.
Enriching your leads regularly enables your company to store accurate information about your potential clients and allows your sales team to pursue the right leads. You don’t need us to tell you why this is so important for your company’s bottom line.