The perpetual modernity in the world of digital marketing is ever becoming more labyrinthine. One of the seemingly tortuous types of it is email marketing. This is because the term doesn’t just imply a simple “just shoot ’em an email” work, but involves a laborious behind the scene toil.
Data enrichment for instance, is another hot topic in the marketing world today. And for the reason that an increasing number of businesses are discovering that a successful email marketing campaign not only requires a good content and verified email list. It requires so much more, and this is when data enrichment comes into play (more on this later).
At this point in time, the importance of data enrichment may not be clear to you yet. Maybe the following recent statistics will help enlighten you. So, if you’ve been hearing about data enrichment for some time now, yet still unsure whether you should incorporate it into your marketing—keep reading.
- Data enrichment reached 80% growth recorded in 2018, and which global organizations claimed an increase of ROI by about 200%.
- A 2019 global data management research (Experian) observed that 83% of businesses treat data as an integral part of their organization’s strategy. They said that a clean, reliable data results in good account-based sales. While, the 98% successful Fortune 500 companies use data to improve their customer experience.
- In the US, challenges in keeping data accurate and current cost businesses an annual average of $600 billion. (Data Warehousing Institute)
- And according to IBM Big Data Hub, the entire US economy spends an average $3.1 Trillion per year on poor data quality.
- While Dell Technologies estimated that annual data creation and copying will reach 44 trillion gigabytes by 2020.
Why do you need data enrichment, you say? Because data ages, and when it ages, it becomes inaccurate and useless. The accuracy of your contact data affects the day to day operation of your marketing and sales team. Thus, giving attention to data management will help your business tremendously.
Or perhaps, it’s not that you are hesitant to try, it’s just that you don’t know what data enrichment is all about. Well, a quick way to define data enrichment is: it is a process of refining and enhancing information with the end goal of making it more accurate and relevant. Data enrichment therefore helps you boost the value of your data in every possible way.
Simply, it makes information current and accurate, which is crucial for your data to be considered an asset. With data enrichment, you get the most out of your contact information, you also make it easier to access without generating new risks. Consequently, it helps you get a deeper insight into your customers’ needs.
The need for proactive data maintenance
Customer data decay each year. Thus, there’s a need to get quality data in an ongoing basis and in the most efficient manner. Accordingly, proactive data maintenance is key to keep your data working for you.
Since your marketing and sales team is loaded with important tasks, drudging administrative work like data entry should be avoided. The best alternative is to opt for automation. CRM automation and data enrichment for instance, eliminates manual data entry, thereby freeing more time.
Furthermore, using AI-powered enrichment tools is also fast and cost-effective. Some available tools nowadays can be set up on an ongoing basis. It can do massive data cleansing, flag inconsistencies, monitor inaccuracies, remove duplicates, and proactively suggest updates.
Invaluable tips to successful email marketing campaigns
As mentioned above, running an email marketing campaign is not a simple task. Even with impressive content, captivating visual theme, and great subject lines—your email campaign may still be bound to fail. Despite all your efforts, you’re still not sure why your prospects and customers are not engaging with you.
If your business struggles in reaching its email marketing goals—from open rates to conversion rates—then it’s time to take a step back. It is possible that you are just not doing it right and it’s worth asking help from an established agency, but below are some best practices you should start implementing on your next strategy to make your campaign a success.
Testing your email content
It is essential to test your content first before sending your campaign. This is to avoid incomplete information and broken links. And also to see if the text, images, and buttons are positioned correctly and are working properly.
Split testing your campaign
Doing this will help you find what works best for your business and your target audience. You can split test your subject lines, content, call-to-action and more. For example, you can personalize your subject line by adding the recipient’s name (data enrichment will help here).
Track Click rates and Open rates
When you track these, it will give you a hint of your subcriber’s preferred content. You can then use this information to create customised content that your audience will love.
Avoid sending spammy content
Everyone hates spam. People are busy and don’t have time checking annoying emails. Making sure that your content is relevant and consistent with your brand will help engage your subscribers as well as avoid spam filters.
Segmenting your list
Data enrichment is a must to accurately segment your email list. Segmentation allows you to send relevant content to your subscribers. Email segmentation prioritizes your subscriber’s preferences, making sure that they are not receiving random content all the time.
Making sure your data is accurate and up-to-date
When running email marketing campaigns, it is essential to have a verified email list. This is to ensure your email deliverability, which will ultimately result to higher open rate. Email list validation and data enrichment are proven ways to assure the accuracy of your data.
The pros and cons
Aside from ensuring accuracy of algorithms, with data enrichment, you can shorten your lead capture forms by only requesting must-have information and source other useful data for a better customer persona. This will pave way to better lead verification, engagement, and conversions.
Data enrichment can provide cleaner and accurate information thus making it easier to segment and retain customers. Other data enrichment benefits among others are:
- Improve customer experience
- Identifies recurrent entries
- More robust customer nurturing program
- Better targeted marketing campaigns
- Higher conversion rates & ROI
Although, as with all other systems, data enrichment is not without fault. Some disadvantages of it are presently being discussed worldwide.
To mention, there’s the possible risk of information abuse. Since the ability to extract more detailed personal information becomes easier, there’s a probability of inappropriate use. This is why the General Data Protection Regulation (GDPR) has been legislated to restrict the collection of data by businesses.
Another perceived disadvantage of data enrichment is that it is still not a good replacement for human to human communication. Most customers still look for personal touch or feel that most face-to-face interaction provides.
Data enrichment is crucial for the success of all business, and it is especially beneficial for running email marketing campaigns. This process is necessary to improve the company’s sales growth by providing a more enriched and relevant information. It also benefits your prospects and customers since it can help you personalize and enhance your products and services.