3 use cases to increase success through data enhancement

Our blog posts deal a lot with data-supported work in marketing and sales. However, it is clear that the quality of these measures depends critically on the amount and quality of the data you have on your leads, prospects or customers. Only with an extensive set of relevant and up-to-date data can you gain in-depth insights that enable you to address your segmented target groups precisely. Yet many companies do not even have the possibility to collect data to this extent. They receive only limited information from their leads – and it is not always clear how up-to-date these are. So how can you fill even large gaps in your knowledge? The magic word is data enhancement.

Success through data enhancement

Benefit from the extensive databases of a specialized company and be automatically provided with extensive data sets on your leads and prospects, but also on your existing customers. For example with the help of the Implisense API, which you can integrate directly into your existing systems. Define which data is relevant for you and receive up-to-date information at any time with the help of an algorithm. This is useful for a whole range of applications. Three exemplary Use Cases:

Use Case 1: Increase conversion on your website

It has been proven that every additional field in a web form increases the dropout rate. The less data your users have to enter, the lower the hurdle for conversion. With a solid solution for data enrichment in the background, you can keep your web forms as minimal as possible. Just ask for the most necessary information – Implisense will then fill in everything else for you. This means you get more leads and still have all the relevant information you need. And you’ll also improve your potential customer’s user experience. So win-win!

Use Case 2: Qualification & updating of leads

When we talk about modern data-supported marketing and sales, then it is not just firmographic data in which you should be interested. But especially signals that give you an indication of where your prospective customer is currently in the purchasing process. However, this status can change quickly. Once data has been obtained, it may become obsolete a short time later. Of course, you cannot bombard your leads with regular new data queries. An intelligent data enrichment tool like the Implisense API therefore not only provides you once with a comprehensive data set, but also regularly with daily updates to your contacts. This keeps your data automatically qualified and gives you valuable signals about changes that could affect the type of message you want to send to your contact.

Use Case 3: Segmentation & personalization

Without an appropriate data enhancement solution, you usually don’t have a comprehensive dataset immediately. Instead, you have to laboriously collect data from multiple sources over time. However, because a certain amount of information is needed to meaningfully segment and prioritize your leads, this can only happen at a later point in time. In other words, you’re wasting valuable resources on leads that you know too late don’t interest you very much. At the same time, you leave out the possibility of reacting quickly to highly potent leads. By enriching your data, on the other hand, the complete data set is available to you at a stroke. You can categorize your new lead immediately and send it maximum personalized messages depending on its relevance and status in the purchasing process. In this way you waste less potential, use your existing resources more sensibly and convert prospective customers to customers more quickly.

These are just three examples of applications for the beneficial use of data enhancement. A powerful tool that simultaneously accelerates and improves marketing and sales. A real booster for your conversion.

How to promote the consistent use of data in your sales department

Most sales professionals are now aware of the importance of data for modern sales. Nevertheless, the practical implementation of data-based sales techniques in day-to-day business still faces a number of problems in many companies. Collecting and archiving in particular is often perceived as a burden by operative sales staff and is frequently left behind in stressful everyday life. The following four measures will help you to effectively implement data-based tools in your sales department.

Define KPIs clearly

Evaluating data effectively is based on a clear understanding of what has actually been measured. This is the only way to draw reliable conclusions and derive meaningful measures from them. Which costs, for example, are specifically included in the customer acquisition costs? In order to ensure a consistent interpretation of the data as well as its collection, it is a good idea to create a glossary. Establish an internal reference tool in which all KPIs are clearly defined. It can be accessed by every employee concerned, so that a uniform awareness exists at all times of what exactly designates which date.

Automate data collection

Collecting data in day-to-day business is one of the critical bottlenecks in implementing a data culture in your sales department. Because with a high workload and fixed goals, this is treated as a low priority by most sales people – and often goes overboard. By automating much of the data collection and maintenance process, you can reduce the burden on your staff while increasing team acceptance of your data tools. For example, with programs that automatically track click through rates or connection data from telephone calls and feed it into your CRM. You can also automate the recording and archiving of your customer master data: By having the Implisense API automatically fill your CRM with it. So you won’t miss any changes because they are kept up to date by a clever data enhancement strategy.

Consistent use of sales data

Make data visible and usable

To ensure that data can unfold its full power, it is not least important where it converges. In many companies, these are still static databases to which not every sales employee has access. Instead, use modern tools that prepare all data clearly for the entire team and can thus become a hub. This way, fewer things get lost, reaction times are shortened and awareness in your sales department is increased.

Use interfaces

You won’t benefit from the largest amount of data if your sales representatives don’t work with this information. So make it as easy as possible for them to access value-adding data. Right where they’re needed. Smartly integrate data from different sources and systems into the workflow of your sales team through the clever use of interfaces. If the helpful data is always just a click away, lower the hurdle to a more active use of this powerful sales weapon. And optimize the performance of your sales professionals.

Improve the consistent collection, evaluation and use of sales-relevant data in your sales team by keeping the hurdles as low as possible for your employees in their day-to-day business. A promising step on the way to modern data-based sales.

Use customer data smarter – with a clever enrichment strategy

Nowadays, companies collect a lot of data about their customers. But do they really fulfil their purpose? After all, the data only benefits your marketing and sales team if it is able to gain knowledge about a customer in real time – and make him an offer based on it that matches his individual interests and his current status in the purchasing process. All too often, however, the data collected is insufficient.

The problem: Unstructured and incomplete data

In many cases, the customer data collected is relatively unstructured and comes from different sources. However, they are only as good as the particular source. The up-to-dateness of the information differs. On top of that, they do not interlock seamlessly. Data gaps must be closed by interpretation – and here all too often the boundaries between fact and fiction blur. Inaccurate data therefore leads to false assumptions about a customer and thus to poorly performing campaigns.

Data enrichment strategy in marketing and sales

The solution: A clever data enrichment strategy

It is better not to close data gaps with speculation, but with information. Automatically enrich your fragmented customer data with a service provider and win in three ways:

1. checking your data

Service providers such as Implisense build their data records with the help of an AI, which keeps them up to date at all times. Especially if your customer data has been collected over a longer period of time from different sources, there is a high risk that it contains outdated information. As part of the enrichment process, the data is checked for up-to-dateness and corrected if necessary.

2. closing data gaps

Implisense not only provides you with a complete data set that contains hundreds of data points for each company, it also allows you to easily manage your data. Above all, current signals from this company are evaluated and included on a daily basis. This allows you to base your assumptions about your customers on a much broader database – in real time.

3. getting trigger events right away

The most comprehensive possible picture of your customer is not the only decisive factor for a successful approach, but also the right moment. The daily updated data acquisition additionally provides you with current trigger events, which tell you something about the current status of your customer in the purchase process. This allows you to recognize the ideal moment and tailor both time and message to your customer.

All this happens automatically. Thanks to the Implisense API, the data records in your CRM system are easily enriched with the requested data from Implisense and qualified at the same time. This provides you with comprehensive information in the shortest possible time. So that you don’t miss the ideal time to pick up your potential customers with an exactly fitting message.

A clever data enrichment strategy solves the often underestimated problem of fragmented collection of customer data. With the help of artificial intelligence, you maximize your knowledge about a lead or customer and thus your success in marketing and sales. 

White space analyses to identify new sales potential

Remarkable white spots were still visible on our maps well into the 19th century. Unknown areas that could only be systematically opened up by the pioneering spirit of curious explorers. A ” white spot ” symbolizes a lack of knowledge until today.

Now imagine your target market as a map: You have certainly already developed parts of it intensively, but there are guaranteed to be a few large or small white spots on it. Your chance to discover new sales potentials – through systematic development work, as used to be the case with the pioneers. And in your case, with the help of clever white space analyses.

white space analyses

The concept of a white space analyses

White space analyses help you to identify the customer or revenue potential that your company is not yet exploiting. So it’s about market opportunities that you haven’t paid much or no attention to yet, even though you could use them more efficiently and with less impact on resources.

In this sense, white space analyses can on the one hand be directed inwards. By looking at your own strengths and capabilities as well as your products and services and deriving the resulting opportunities and risks, you determine the potential for further developing your portfolio – in line with the needs of your customers. If, on the other hand, you look outwards in your white space analyses, identify previously undersupplied target groups or interesting niches in your market. It certainly makes sense to combine both approaches in order to find the ideal intersection of market potential and the strengths and potentials of your company.

White Space among existing customers

Upselling opportunities with existing customers are a big white spot of untapped potential for many companies. Which products or services does your customer already purchase from you and which could be of interest to him? The latter is your white space. In order to be able to answer this question as accurately as possible, you need to know your customers and their current challenges very well and develop a deep understanding of them. But the effort is worth it. Upselling is many times more efficient than winning new customers.

Moreover, this white space is not only an opportunity for you, but also a risk – if you leave it untapped. Because then it may happen that your customer will sooner or later look to your competitor for a solution to the challenges you have not yet considered. And you will lose it completely in the meantime. To remain in the map metaphor: If you do not put your flag in the undeveloped area, there is a risk that someone else will do it.

White Space of your competitors

Of course, the reverse strategy can also be derived for you from this circumstance: Use the white space that your competitors leave unnoticed by their customers. To do this, you must not only know a lot about the strengths of your own company or product and the customer concerned, but also understand the strengths and weaknesses of your competitors. Find out where you really are better – and use exactly that to close the supply gap of your competitors’ customers. Ask yourself: Which problems of these customers can you solve for which your competitor has no recipe? In this case, this is your white space.

White Space in the market

In addition to supply gaps with your customers and those of your competitors, there are certainly potential customers on the market who have been overlooked or deliberately not served by the two of you. Niche target groups that are not covered by a classic target customer analysis, but nevertheless offer attractive sales potential. Search for such groups and deal with their very specific needs. If you succeed in making such niche target groups a suitable, sharply tailored offer, you will be able to develop this submarket for your company almost without competitive pressure.

White-Space-Analyses need reliable data

Knowledge gaps can logically only be closed by knowledge. Usually, the white spots are not the obvious sales opportunities, but those that only reveal themselves after an intensive engagement with the corresponding target group or the concrete customer. In order to see your white space, you need to understand the specific challenges of your current or potential customers – and for this you need extensive data. If necessary, also about your competitors. Implisense Pro provides you with a huge database that you can use for your white space analyses. In particular, you can identify upselling potentials or cluster niche target groups with Implisense with just a few clicks.

Open up the white spots in your market and in your customer database. This is a very efficient way to recover previously wasted sales potential with little use of resources.