Updated Nov 20, 2023: The article was revised with more guidance on how data enrichment tools work, the benefits of data enrichment, and updated tool descriptions.
Scientia potentia est, or knowledge is power, should be the motto of every sales team around the world. Whether it’s replying to a customer support inquiry or moving a prospect through the sales funnel, the more you know about them the higher your chances are to convert them. But how do you find the most relevant information?
The traditional way of collecting prospect data is manual and time-intensive. You start by searching for information on Google, check LinkedIn, or pay for a professional corporate directory — all these options can yield somewhat satisfactory results at the expense of time.
Any moderately successful enterprise website has thousands of daily visitors. This means your sales team needs to have access to usable and relevant data instantly, without spending hours in research. One way to do that is through data enrichment tools.
Tip: There’s a catch with many data enrichment tools — they don’t track anonymous website visitors. To do that, add Lift AI to your data enrichment software and get accurate buyer intent scores in real time.
Why Every Business Needs Data Enrichment
Data enrichment is a process of merging multiple data sources on any given prospect that are available online with the information in your CRM (customer relationship management systems). Enrichment tools are a marketing data engine used to source and populate this data, providing insight and context about potential customers.
Businesses use enriched data to create personalized approaches and workflows in their customer acquisition or sales strategy.
What data can you expect from enrichment tools? If a website visitor subscribes to your newsletter or downloads your white paper by leaving their work email, your data enrichment tool could then auto-populate their company, industry, city, title, business phone number, and more.
There are specific conditions for using data enrichment tools:
- You should trust the quality of the data
- You need to make sure the data is fresh and relevant
- You want to use the same set of data across all sales tools
Hint: When it comes to the quality of data, make sure you understand the pros and cons of first-, second-, and third-party data.
With these clues in mind, let’s go over the best data enrichment tools you can use in your sales process right now.
Top 7 Data Enrichment Tools to Elevate Your Business
1. Crunchbase Pro
Crunchbase is one of the most popular databases used by startups looking for information on funding rounds, investors, organizational structures, corporate titles, decision makers, and more.
With Crunchbase Pro, companies get automated prospecting, lead qualification, personalized insights, and easy CRM integration. You can search for companies that match your ICP (using up to 38 filters), discover prospects based on geographical location and other factors, look up similar companies, and connect with prospects without leaving Crunchbase. Plus, you get the benefit of always up-to-date data right in your CRM through the Crunchbase API connection.
Since Crunchbase operates in the startup ecosystem, it’s best suited for tech companies or businesses that see tech companies as their primary customers. The pricing for Crunchbase Pro starts at $49 a month and goes up considerably for Crunchbase Enterprise (with API access).
2. Clearbit
Over the years, Clearbit has become the standard when it comes to B2B data enrichment software. Unlike other tools, Clearbit doesn’t rely on data from aggregators — it finds the information itself, scanning more than 250 sources, including social media data, websites, and legal filings.
In addition, Clearbit uses its AI Native Data Provider and large-language models to score each data source and find information with the highest trust level. Automating quality control allows Clearbit to refresh its whole dataset every 30 days.
Clearbit is one of the best data enrichment tools that established B2B SaaS companies can use. Its enterprise pricing varies based on specific needs but starts roughly at $100 for every 1,000 API requests.
Note: Clearbit was acquired by HubSpot on November 1, 2023. As a result, its offering or pricing structure could change in the near future.
3. Openprise
Instead of sourcing original data or relying on any one data provider, Openprise has created its own marketplace where businesses can buy behavioral, demographic, or firmographic data from multiple vendors on any dataset of companies that fit a specific ICP criteria, getting up to 30% better data match as a result.
All the requested data from Openprise can be automatically added to your CRM, making the whole process as seamless as it can be.
When it comes to pricing, Openprise is meant to be used by large sales teams that need to order a lot of data at once. For example, 500,000 records cost around $48,000 a year.
4. DiscoverOrg
DiscoverOrg is owned by ZoomInfo and powers its company directory. In addition, it’s a full-service B2B intelligence and contact data tool in its own right.
Businesses use DiscoverOrg to keep their existing and incoming prospect data fresh in real time. DiscoverOrg verifies the accuracy of its data manually every 90 days. Plus, it scores all active prospects based on their behavioral activity across the internet. That way companies always know which of their prospects are more likely to buy.
5. LeadGenius
LeadGenius is one of the best solutions for on-demand data enrichment. Instead of reusing pre-built data from the same sources as everybody else, LeadGenius keeps its own datasets with over 420 million verified contacts.
You can use LeadGenius to enrich your accounts with relevant data and update them based on changes in your customer’s ad spend, job posts, press releases, product announcements, and more.
Uniquely, LeadGenius can help you build targeted customer databases from scratch. For example, get detailed information on ecommerce vendors, franchises, and payment providers.
LeadGenius data specialists continuously verify the accuracy of its data. There are different pricing plans available based on the exact requirements, but they start at around $3,000 a month, targeting mid-sized B2B companies.
6. Leadspace
Leadspace offers a complete data management solution, keeping your data clean, accurate, and enriched in real time. You can connect this tool to any popular CRM (it works best with Microsoft Dynamics), and you can even integrate your own data sources into it.
When it comes to leveraging AI capabilities, Leadspace is quick to derive custom insights from your data to suit your ideal customer profile. You can create personalized messages for hundreds of contacts, know the best time to engage someone, and have a clear way to prioritize your accounts.
As a customized solution, Leadspace pricing varies but is targeted at larger enterprises.
7. Lift AI
Enriching data is not only about getting more accurate information — it’s about getting new kinds of data that would help you make better decisions.
For example, if you know the buyer intent of your leads as they are navigating your website, you can prioritize them and convert them more efficiently right then and there, before they leave your website.
Lift AI provides the only real-time website buyer intent information on the market. Thanks to its large machine-learning model trained on more than one billion data points and 14 million live sales interactions, Lift AI is able to detect the high buyer intent of each and every website visitor with over 85% accuracy.
The best part? It doesn't require any contact or account information about the visitor to work. In fact, because it scores buyer intent based on the visitor's behavior, it works with completely anonymous visitors that other data enrichment tools cannot.
Unlike other data enrichment tools above, Lift AI is not a standalone platform. Instead it’s able to integrate with any of them and your whole marketing stack to provide additional buyer intent information in real time.
That means you can combine Lift AI's real-time website buyer intent scores with your known account and contact information to find the bullseye of high intent target accounts. And it works right out of the box.
How to Choose the Best Data Enrichment Tool for Your Needs
Now that you know the best data enrichment tools, how do you choose the best one?
As you can see, every data enrichment tool targets a certain industry or company size. Some work for B2B SaaS businesses, while others integrate with ecommerce, for example. Similarly, some tools are accessible to teams of four people, while others don’t make sense for any teams under 100 sales reps.
Additionally, some data enrichment tools offer customized services, such as on-demand research, manual verification, or automated record cleanup.
It’s critical to ensure that the tool you choose integrates with your existing sales or marketing stack well. There’s nothing more difficult than adopting a tool that people have to go out of their way to use.
Finally, consider the price. Even the best data enrichment tools aren’t worth it if they don’t give you a healthy ROI. Don’t over-invest in something that your team can’t fully leverage.
Implementing Data Enrichment in Your Business Strategy
Data enrichment is powerful and has dozens of use cases. The impact it has on your company depends on how you decide to implement it — whether it’s learning more about your marketing leads, hiring better candidates, or ensuring you only allow the right users on your website to reduce fraud rates.
Most data enrichment tools can keep your CRM up to date with relevant information. But there are limitations.
Data enrichment tools can’t see, enrich, or rank hundreds or even thousands of anonymous visitors on your website.
This is a critical missing piece considering that more than half of your website visitors are anonymous at any given time, with some being ready to convert.
One effective technique of capturing anonymous visitors without any data is using live chat. If you engage every visitor, you can assess where they are in the conversion funnel.
However, talking to every single visitor would quickly overwhelm your SDRs and have them waste time pursuing leads that have no intention of buying. For larger websites, talking to every lead is simply impossible.
On the other hand, a regular chatbot can technically connect with every visitor but it isn’t as effective at engaging and converting them when compared to a human, and can lead to customer frustration if not handled strategically.
The only way to make sense of all the anonymous visitors on your website is through artificial intelligence, such as Lift AI.
Lift AI is a buyer intent solution that uses a proprietary machine-learning model to identify the real-time buyer intent of every website visitor. This solution integrates directly into your website and works with live chat or any other marketing tool, providing them with accurate buyer intent scores of your audience.
For example, if you integrate Lift AI with live chat, it will automatically evaluate website visitors with the highest buyer intent and connect them directly to your BDRs. At the same time, it would greet medium- and low-scoring visitors with a chatbot or a self-help guide, helping to nurture those leads.
Using Lift AI, customers have reported increasing their chat pipeline anywhere from two to 10 times within 90 days.
PointClickCare increased its pipeline by 400%, attributing over $1M of extra revenue to its Lift AI integration. Formstack similarly improved its conversions by 420%.
The best part is — no extra effort is required. Lift AI works on its own with a simple JavaScript snippet.
The Future of Data Enrichment: A Glimpse Ahead
With privacy concerns increasing, more companies will start missing out on catching anonymous website visitors in time. In other words, the opportunity to identify buyer intent will only get more attractive.
Regardless of which data enrichment tool you use, adding the power of Lift AI to it will shine a light on the actual buyer intent and help your sales team close more deals faster.
It’s better to start now and request trials and demos for all the data enrichment tools that fit your requirements. Then supercharge the winner with Lift AI and enjoy the best buyer intent stack you can build for your sales and marketing team.
FAQs
What is an example of data enrichment?
If you only have someone’s email, data enrichment can help identify the person’s name, title, company, phone number, and geographic location, for example.
What are the steps in data enrichment?
After you sign up for a data enrichment tool, you should integrate it with existing data, such as records in your CRM. After that, it will be able to fill out additional information based on those records.
What is data enrichment and its tools?
Data enrichment is a process of sourcing additional information based on existing records. In the business environment, data enrichment is used by sales and marketing teams to identify contacts from their target audience.
