Data is the backbone of every business. It helps an enterprise know their customers, observe their buying patterns, analyse demands, generate and convert leads and predict future trends. Thus, a successful business is a virtue of the efficient and productive use of data.
What is Data Enhancement?
Data enhancement is the process of improving the quality of raw data by updating, appending, organising, merging and cleaning it. Data enhancement also improves the looks and readability of data, which in turn makes it more productive.
Four ways to do data enhancement
- Data Updating: Many aspects of business data like phone numbers, addresses become obsolete with time. Data Updating updates such incorrect information with the correct ones.
- Data Appending: Sometimes, critical information like age, phone number, email address or other data might be missing from CRM due to various reasons. Data Appending adds such missing details to your CRM.
- Data Merge: There might be some repeated entries of the same name in a CRM; these entries and their information are searched and added at one place.
- Data Cleaning: A CRM may have some erratic information like incorrect phone numbers and wrong addresses; deleting such data is called Data Cleaning.
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How can Data Enhancement be Profitable?
Devising a business strategy requires analysing a lot of data; this data needs to be accurate to be useful. Having incorrect data is like having a vehicle without wheels; it only occupies space and is of no use while clean and up-to-date CRM has many perks. Clean data not only streamlines data in the CRM but also makes it more efficient, consistent and accurate. A ready to use data will give a head start to your marketing team as accurate information would always be advantageous. Having a clear goal is also an essential aspect of marketing, and possessing clean data increases the clarity of a marketing goal.
Why is Data Enhancement a necessity?
An old CRM always requires updating, as critical information like phone numbers and addresses of customers often get changed. An incomplete CRM is good for nothing as it cannot connect a company to its customers. With the help of Data Appending, one can complete such CRM by adding accurate information. Having multiple entries of the same data has many repercussions; a customer might receive one marketing email multiple times, causing redundancy, which is not at all suitable for business. With the help of Data Deduplication, you can solve this problem. If a CRM has multiple entries of the same characteristic, then this data can be merged. Inaccurate and erratic information is of no use to any company. Errors in critical data result in loss of essential resources like time and money; one needs to delete such type of data from a CRM.
The icing on the cake!
Data enhancement simplifies every aspect of business directly or indirectly. Customers love the enterprise which knows them, addresses them by their first name and wish them on festivals and birthdays by sending e-mails and texts. One can achieve this with the help of a well organised and complete CRM. Once customers are into reading these messages, they remember the company which has sent them and start taking their other marketing messages seriously, thus generating more business. Enhanced CRM data speaks of periodic market trends in volumes, thus giving better response rates and leverage over those without clean data.
The path to genuinely satisfied customers and ever growing business thus goes via Data Enhancement, and it will be required, pursued and relied upon as long as Information Technology exists.
Right from Data Management/Researching, B2BLead Research/Generation, CRM Cleaning, email appending or anything related to Data, BizProspex is the right partner for your B2B business. If you have not availed CRM services in over 6 months, shoot us an email for a free trial. Don’t settle for anything less than the best when it comes to your B2B business.