Scientia potentia est, or knowledge is power, might as well be the motto of every sales team around the world. Whether it’s replying to a customer support inquiry or moving a prospect through your sales funnel, the more you know about them the higher your chances are to actually close the deal. So how do you go about finding the most relevant information?
The traditional way of collecting prospect data has been manual and time-intensive. You can search for information available on Google, you can check LinkedIn, you can even pay for a professional corporate directory — all these might bring somewhat satisfactory results at the expense of time.
If you think about any moderately successful enterprise-level website, you’ll quickly realize that it has thousands of visitors a day. So how can your sales team get usable and relevant data quickly, without spending hours in research? You need to use data enrichment tools.
However, they come with a catch. Read to the end to learn more.
What Are Data Enrichment Tools, Really?
If you already know, feel free to skip ahead to the next section.
Data enrichment is a process of merging generally available data online on any given prospect with the information you already have in your CRM. Data enrichment tools source and populate this information, giving you more insights and context on your potential customers. You can then use that data to create truly personalized approaches and workflows in your customer acquisitions or sales strategy.
What kind of data can data enrichment tools provide? Let’s say someone subscribes to your newsletter or downloads your white paper by providing their work email. Your data enrichment tool could then auto-populate such information as their email, phone number, title, city, and more.
Of course, for your data enrichment strategy to work, it needs to meet some conditions:
- You should trust the quality of the data you’re getting
- You need to make sure the data is always up to date
- You want to use the same set of data across your sales tools
With these conditions in mind, let’s see what are the best data enrichment tools you can use in your sales process right now.
Hint, when it comes to the quality of data you're using to enrich data, consider the pros and cons of 1st party, 2nd party, and 3rd party data which we have broken down here.
1. Crunchbase Enterprise
You might already know Crunchbase as one of the most popular databases for startups, listing information on funding rounds, investors, corporate titles, etc.
With Crunchbase Enterprise, you get all the benefits of their data (always updated) right in your CRM through an API connection. Analyze the data as you see fit and create perfect messages for your target audience — all in one place. The pricing for the service is based on custom quotes.
As one of the original sales data management companies, InsideView integrates with all the leading CRMs on the market to provide up-to-date records and clean up information that’s no longer relevant.
InsideView stresses that while verifying records as soon as they appear in your CRM might seem like an upfront cost, cleaning them up later will cost 10 times that, and if you don’t do anything and miss out on a deal because of it, the loss could cost you 100 times the amount. InsideView’s lead enrichment features start at $6,000, while data management is based on custom quotes.
What’s unique about Clearbit as opposed to other data enrichment tools is that they don’t rely on other data providers but rather find all the information themselves, scanning more than 250 sources including social media, websites, and legal filings. In addition, they score each data source to automatically give preference to those with a higher trust level. The whole dataset then gets refreshed every 30 days.
Clearbit pricing varies based on your needs but starts roughly at $100 for every 1,000 API requests.
Instead of sourcing original data or relying on any one data provider, Openprise has created its own marketplace where you can get behavioral, demographic, or firmographic data from any combination of companies that fit your criteria. The marketplace will then automatically populate your CRM for you.
When it comes to pricing, Openprise is definitely targeted at large sales departments, starting at $48,000 a year for 500,000 records.
While DiscoverOrg might be known for powering the ZoomInfo directory, it’s also a full-service B2B intelligence and contact data tool in its own right. This software helps you keep all existing and incoming prospect data fresh in real-time, and even has their people manually verify its accuracy every 90 days. Additionally, DiscoverOrg scores your active prospects based on their behavioral activity across the internet, so you always know who’s more likely to buy.
LeadGenius is one of the best solutions to enrich your accounts with relevant data and update them based on changes in your customers’ ad spend, job posts, press releases, product announcements, and more. However, this tool also helps you build targeted customer databases from scratch, such as ecommerce vendors, franchises data, payment providers, etc. What’s more, LeadGenius’s data accuracy is continuously verified by humans. There are different pricing plans available based on your needs, starting at $3,000 a month.
Offering a complete data management solution, Leadspace keeps all your data clean, accurate, and enriched in real time. This tool connects to any popular CRM, and you can even integrate your own data sources into it. Where Leadspace really gets to shine is in leveraging its AI capabilities to derive custom insights from your data with regards to your ideal customer profile. Now you can easily create personalized messages, know the best time to engage with someone, and have a clear way to prioritize your accounts. As for pricing, Leadspace presents itself as a highly customized solution, so you should contact them for a quote.
The Problem With Data Enrichment - Anonymous Visitors
Now that you know the best data enrichment tools, you can be sure that the data you feed into your CRM will be complete and up to date.
There is, however, one big problem that none of the data enrichment tools can help you with — they cannot see, enrich, or rank the hundreds or even thousands of completely anonymous visitors on your website every day. This is a critical missing piece considering upwards of half of your website visitors are anonymous at any given time. Just think of all the conversion-ready visitors you could be missing out on right now.
One technique to try and capture anonymous visitors without any data on them is to use live chat, as you could technically "engage" every visitor on your site with an invitation to chat. However, if you implement live chat and have your SDRs talking to every single visitor, they’ll surely waste a lot of time pursuing leads with no intent of buying (not to mention, this simply isn't feasible for high traffic websites with thousands of visitors).
A regular chatbot, on the other hand, can technically connect with every visitor but isn’t as effective at engaging and converting those visitors when compared to a human, and can often lead to customer frustration if not carried out strategically.
The only possible way to make sense of all the anonymous visitors on your website without any data on them, is through artificial intelligence - and a unique solution to this problem is Lift AI.
Lift AI is a machine-learning model that knows what no data enhancement tool can know - the real-time buying intent of every website visitor.
Buyer intent has become an incredibly valuable concept in the modern marketing landscape - read here to learn about the value of buyer intent.
Lift AI seamlessly integrates into your website and live chat tool to instantly predict the buying intent for every single visitor in real-time, even if they are completely anonymous.
To do this, Lift AI's model contains data from over one billion profiled website visitors, 14 million sales interactions, and real-time behavioral web analytics in one machine-learning model. That means you can take advantage of big data and expertise that works right-out-of-the-box.
As a result, Lift AI will prioritize the best visitors for your sales team so they can engage and convert those visitors with a high buying intent instantly. In turn, lower-scoring visitors are directed to chatbots or other automated experiences.
Using this tactic, some Lift AI customers have reported that their high-quality leads more than doubled with no extra marketing efforts - in fact you can read about how PointClickCare saw a 4x increase in conversion.
Or how Formstack saw an 88% pipeline increase in 90 days.
Think of it like other data enrichment tools but with the added benefit of “knowing” completely anonymous visitors who you would otherwise miss out on entirely.
In fact, it works best alongside existing data enrichment tools for the widest picture possible of your visitors.
Consider how powerful this is.
Research shows that a minimum of 70% of your website visitors are anonymous. This is a huge opportunity for your marketing and sales team, but you can't take meaningful action on those anonymous visitors without knowing anything about them. With Lift AI, you suddenly shine a light on them to reveal their buying intent in real-time, allowing you to engage those visitors and convert them into revenue. Additionally, if you do already know the visitor through an existing ABM or data enrichment tool, you can further prioritize those visitors that meet your ICP and simultaneously have a high buyer intent as identified by Lift AI - a complementary tool set that supercharges your existing tech stack.
Start your free 30-day Lift AI trial today and see the magic of Machine Scoring at work, revolutionizing your live chat for sales and increasing conversions in no time.