Data enrichment is the process of enhancing incomplete data with new data, typically provided from 3rd party sources. Data enrichment is also known as data augmentation.
Why Is Data Enrichment Used in Marketing?
The goal of data enrichment is to provide you with a more complete dataset that can be used for your marketing efforts. Data enrichment helps paint a clearer picture of who your audience actually is.
What Information Does MarketingCloudFX Enrich?
We enrich contact records in Customer360FX. Any person who calls a CallTrackerFX tracking number or fills out a form is eligible for data enrichment.
For calltrackerFX, we have information such as the channel that drove the call, as well as a call recording and caller ID, but other information such as caller bio, gender, age, location, company, job title, and other demographics/firmographics are incomplete. This is where data enrichment can help fill gaps.
For leadmanagerFX, we collect every form submission on your website. Someone may fill out a form that asks for name, email and comment. Given that, your business potentially wouldn’t know other key data points like their company, job title, gender, age, location, etc.
The exact data points eligible for enrichment in MarketingCloudFX and a brief description of them are:
Social media, website links, and personal information:
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- Linkedin Profile – A direct link to the contact’s LinkedIn page
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- Twitter Profile – A direct link to the contact’s Twitter page
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- Facebook Profile – A direct link to the contact’s Facebook profile
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- Website – Will show the contact’s / business website domain
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- Photo – An image of your contact, typically pulled from a social media profile picture
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- Biography – A biography for your contact, typically pulled from a social media profile
Demographic information:
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- Age – The contact’s age (in years)
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- Address – The contact’s address, which can be the city, state, zip code, or exact street address
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- Marital Status – Shows whether the contact is married, single, divorced, or widowed
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- Home Value – Shows the estimated value of the contact’s home
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- Household Income – This shows the estimated income from all contributing members of the household
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- Children in Household – This shows whether or not the contact has children
Firmographic information:
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- Employment status – Will show if your contact is employed, unemployed, retired, etc
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- Job/Position – Will show your contact’s job title/role
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- Organization – Shows the company your contact works for
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- Education level – Shows the highest level of education your contact has received
Where does this data come from and is it accurate?
This data comes from third-party sources including FullContact, Data Axle, and Clearbit.
This data is as accurate as their databases are on the day it is enriched. Enrichment occurs when a contact is created via a phone call to a calltrackerFX number or a form submission is pulled into leadmanagerFX. It is third-party data, so as with all third-party data, it can be inaccurate or outdated. Typically the data that shows for data enrichment comes from social media profiles and other publicly available information tied to a user’s email or phone number.
A few examples where this data could be inaccurate:
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- The age of a contact could show as 30 years old, but the contact had a recent birthday so they’re actually 31 but their data hasn’t been updated yet in the third-party database.
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- The gender shows “Male” but the contact is actually Female. This could happen from a husband and wife sharing an email account, and the wife using that email account to create a social media profile on Facebook.
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- The job title of a contact says something that doesn’t match the LinkedIn profile. This could happen from a contact getting a promotion and third-party sources not having the updated role.
The data isn’t 100% accurate due to the limitations of third-party data. However, all data can be manually updated if you notice discrepancies!
What do I do with this data?
The use case is going to vary from business to business, but at it’s core, data enrichment can be used to enrich your marketing and sales efforts. Some data may not be valuable to your specific business. For example, enriched data on home value may be extremely valuable to a roofing company, but not valuable at all to a roofing material manufacturer.
Typically data enrichment is used very differently depending on who is using it as well. For example, someone on the sales team may use this data to steer their conversations with the interest of the contact. Let’s take my example below for a use case.
If I reached out to a software company looking for a demo of their tool, knowing that I work on software myself, which could be found by a quick Google Search for “MarketingCloudFX” would be very valuable and something we could both relate to. They could also click through my social media links and find that I’m very interested in wrestling, the outdoors, motorcycles, etc. That’d definitely be more engaging for small talk than talking about the weather! Maybe they even find similarities in our education, location, etc. Maybe we grew up in the same area, went to the same, college, etc. This would all be valuable intel for their sales team.
On the other hand, a marketer may care less about the specifics. Maybe a marketer uses this data to understand visitor personas. Having enrichment data could allow them to pull stats like “60% of our inbound leads are men” or “70% of our inbound leads are 40 years or younger”. This can help with ad targeting among many other things.
You can easily use this data for your marketing efforts. For example, if my business sells shoes, and we’re having a sale on Women’s shoes, wouldn’t it make sense to send our newsletter that promotes the sale to get your next pair of shoes to just the women in our contact database? Then send a separate one to men that could promote the same sale, but as a gift for the woman in their life?
Or for a b2b example, let’s say I’m running ads to promote MarketingCloudFX. Wouldn’t it make sense for me to tailor our ads and landing pages to the job role someone works in given that the use case of the same feature is very different depending on whether someone works in marketing or sales? We could easily segment our list for this data point by asking a question on our form like “do you work in marketing or sales” then use that to divide our audience into those buckets. Then when we create customer match lists in Google Ads to run display ads to, or when we run an AdTechFX retargeting campaign, we could show users ads and landing pages that are going to resonate with them.
What MarketingCloudFX Plans include Data Enrichment?
Enterprise or Professional plans both include enterprise-level data enrichment that pulls from FullContact, Data Axle, and Clearbit. The goal of enriching data from multiple sources is that more data points will be enriched.
All foundation plans include basic enrichment which pulls from FullContact only. Data can be more sparse when pulled from only one data source. More complete data would be available on MarketingCloudFX professional or enterprise, or we also offer an add-on for data enrichment for forms and calls.
Questions about Data Enrichment?
If you have questions about data enrichment, please reach out to your internet marketer at WebFX! They’re open to strategizing with you and working with our MarketingCloudFX Solutions team to see where exactly data enrichment could play a role in your business!