Free ebook: 9 Use Cases For Inbound Lead Enrichment

9 Use Cases For Inbound Lead Enrichment By William Wickey| August 17th, 2015 sales tip of the iceberg A study of 61 million customer records by NetProspex reveals that 84% of marketing databases are barely functional. 88% of those same customer records lack basic data such as industry, revenue and employee fields. The marketing technology landscape nearly doubled in the past year from 947 to 1,876 companies, with almost $22B in investments. Despite the sophistication of marketing automation software such as Hubspot, Marketo, Eloqua, Oracle, Pardot, and others, B2B marketers are losing ROI due to incomplete and flimsy customer data. Inbound form fields never tell the whole story. In order to maximize the value of costly marketing automation software, marketers need to actively enrich customer records for key data not captured through web forms. Inbound lead enrichment is one way companies can ensure that their marketing automation machinery works efficiently from inbound to close. What is lead enrichment? Lead enrichment is the strategic improvement of customer data. Like lead generation, lead enrichment is not an event, it’s a process. Also like “lead generation,” “lead enrichment” is a loaded term. Lead enrichment can take place in tandem with lead generation or be a retroactive improvement of a CRM or marketing automation database. Some types of lead enrichment – especially deduplication and validation – can be fully automated with the use of a particular technology such as Ringlead or Interactive. However, most lead enrichment requires a human touch.

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9 Use Cases For Inbound Lead Enrichment By William Wickey| August 17th, 2015 sales tip of the iceberg A study of 61 million customer records by NetProspex reveals that 84% of marketing databases are barely functional. 88% of those same customer records lack basic data such as industry, revenue and employee fields. The marketing technology landscape nearly doubled in the past year from 947 to 1,876 companies, with almost $22B in investments. Despite the sophistication of marketing automation software such as Hubspot, Marketo, Eloqua, Oracle, Pardot, and others, B2B marketers are losing ROI due to incomplete and flimsy customer data. Inbound form fields never tell the whole story. In order to maximize the value of costly marketing automation software, marketers need to actively enrich customer records for key data not captured through web forms. Inbound lead enrichment is one way companies can ensure that their marketing automation machinery works efficiently from inbound to close. What is lead enrichment? Lead enrichment is the strategic improvement of customer data. Like lead generation, lead enrichment is not an event, it’s a process. Also like “lead generation,” “lead enrichment” is a loaded term. Lead enrichment can take place in tandem with lead generation or be a retroactive improvement of a CRM or marketing automation database. Some types of lead enrichment – especially deduplication and validation – can be fully automated with the use of a particular technology such as Ringlead or Interactive. However, most lead enrichment requires a human touch. Whether you choose to enrich your leads in-house using an SDR or intern, outsource to a virtual worker, or adopt a technology solution, here are a few ways you can enrich your inbound to improve the efficiency of your marketing and sales processes. 1. Increase Conversions By Reducing Form Length Say you run an A/B test on your webinar signup page and, sure enough, the 5-field form performed better than the version with 10. A lot better, actually. Cutting your form fields in half boosted your landing page conversion rate from 9% to 17%. First Name Last Name Email Company Website Job Title Phone Number of Employees State Industry Content Management System You know it makes sense to slim down your webinar signup form, but the thing is, your sales team really wants that extra data. Perhaps a lot of good leads came from last quarter’s webinars. If you didn’t have those extra 5 fields on your landing page form, your SDR would not have been able to go back and separate qualified buyers from the unqualified — at least not without doing additional research on every registrant. In fact, your whole team agrees that Number of Employees, Industry, and Content Management System are required Marketing Qualified Lead (MQL) criteria. Without these fields, you’re not getting any closer to hitting this quarter’s KPIs.