Data enrichment is the process of combining data in your database with third-party data from external sources with additional information services. You can supplement any information that you have with information from the service provider can be supplemented. The Financial Data Enrichment makes the process very simple and provides foster access. After this process, you will gain more insight into your audience because of additional information about user behavior, interests, and shopping behavior that occur outside of your website. This method will expand the reach of your campaign and greatly improve your startup rate.
Data Enrichment Increases The Audience Reach:
Data enrichment adds contact information if you have a mailing address. Adding an email address can greatly increase the reach of your email marketing campaigns and new methods to target new audiences after they open your emails. Data Axle offers consumer data to help integrate contact information like this. Even adding an email means you have one more channel to contact your customers or leads. Email marketing campaigns have higher click-through and conversion rates than social media. The database offers a wide range of information. There are more than 250 million marketable business and consumer email addresses today. You can connect to the historical database of over 1 billion email addresses to integrate with your first-party records.
Data Enrichment Strengthens Your Omni Channel Campaigns:
Omnichannel campaigns work by “touching” each potential customer throughout the day. When eating breakfast, they see an ad before watching a video on social media on their work computer. They will receive an email with an offer related to the company’s latest conversation. They took the car in for an oil change, and your commercial plays on the TV in the waiting room. They got home, and there was a mail with more information on the topic. That is one campaign that uses at least four channels: email, social media, CTV, and direct mail. However, for omnichannel campaigns to work, your data must be clean.
Connecting Their Personal and Business Lives:
Your data needs to help you navigate your customer’s intertwined world. People working from home or having small startups that earn income from the living room. You can bridge the difference between the personal and professional. If you offer your brand for personal use, would you market your product or service differently between a CEO and a Creative Director? Or would you be looking to have a conversation about technology options across the company? Sending a letter to key decision-makers at their home office helps with information about each individual’s working life. You can make better decisions about where and how to send messages.
Understand Their Transactions:
Transactional data can help understand what works for each individual and understand those needs broadly. Transaction Data Enrichment shows 1.6 billion transactions per month: more than 1,110 product categories and 2 trillion in annual discretionary spending. So you can retrieve information about what your customers actually bought, where they buy, and how often they buy. You can also find out what other brands your customers purchase from. So you can evaluate what works against your competitors’ strategies. Use this information to understand purchase regency, frequency, value, and transaction channels to tailor your messages and offers.