Data enrichment services - everything you need to know
73% of customers expect companies to understand their unique needs and expectations, and 88% declare that the experience company provides is as important as the product or service. To satisfy the customers’ needs in the modern world, you have to get to know them as well as you can. And the best way to do that is through the data.
In preparation for the cookieless future, many marketers turn to first-party data as the primary source of customer information. Exploiting first-party data is necessary to increase the lifetime value of customers and their loyalty. But to get the full view of your customers, know their interests or purchase intentions, you need additional information from trusted providers. Data enrichment services are really helpful in getting the full view of your users.
What is data enrichment?
Data enrichment is a process of merging the data in your database with third-party data from external sources. With data enrichment services, you can supplement any data you have with data from a data enrichment service provider.
After this process, you will gain more insight into your audience due to additional information on users’ behavior, interests, and shopping habits happening off your website.
Check out how data enrichment works in a short video:
When you enrich your data, you can personalize the messages to your users, create unique segments, and avoid serving irrelevant ads leading to improved customer experience, reduced ad waste, and more effective campaigns.
Data enrichment use case
Let’s take a look at a real-life example of how customer data enrichment services are used by companies.
A leading company from the financial industry aimed to enhance its customer database for marketing and operational purposes. OnAudience.com provided raw data that included information on the online behavior of the company's clients.
The company’s goals were:
- Enriching CRM with behavioral data
- Boosting sales through cross-selling and up-selling
- Building a better customer journey through personalized messaging
- Developing Risk Analysing tools with an additional pool of data
We performed the data enrichment in 5 steps:
1. We performed a secure cookie-matching implementation outside the transactional system.
2. We developed a secure data exchange stream between the OnAudience.com Data Management Platform and the company.
3. We executed Data Transfer, verifying all processes.
4. We performed a mapping process of data with corresponding company user IDs.
5. We implemented data in the sales process (flagging users for Call Center and personalized contact), performed marketing analysis and developed credit risk tools.
The process provided behavioral profiles of almost 500 000 company clients. As a result, the company was able to perform a deeper analysis of its clients, create personalized marketing scenarios, design an improved customer journey, and perform a more detailed risk assessment.
Check out another OnAudience data enrichment case study here.
Benefits of data enrichment services
Supplementing your first-party data with third-party data leads to building comprehensive user profiles. Learning more about your audience is a valuable asset. Check out how you can benefit from data enrichment to grow your business.
With data enrichment services, you can improve the customer experience at any point in the customer path. Consumer data enrichment enables you to achieve that by:
- Creating segments based on your audience’s interests and behaviors.
- Sending out more personalized ads and other marketing communication.
- Personalizing the customer’s feed in your app or website.
- Creating personalized sales scenarios.
- Implementing an omnichannel approach in marketing and customer service.
The above strategies will improve the clients’ attitude towards your brand and help turn them into loyal customers and engaged advocates.
Improved ad effectiveness
Targeting based only on first-party data can be a guessing game based on the isolated user behavior on your website.
Once your customer data goes beyond purchase history, you will be able to create custom segments based on other factors such as socioeconomic status, hobbies, age, and shopping habits. With a plethora of targeting conditions, you can perform a programmatic campaign that will deliver results and save dollars on displaying irrelevant ads.
Better use of first-party data
There is only as much as you can do working only with first-party data. When you enhance it, you can squeeze much more from the more detailed view of your users. Understanding your audience better will allow you to:
- Improve marketing and sales strategies.
- Make data-driven business decisions.
- Tailor the experience to the individual user.
- Increase revenue and save money on irrelevant targeting.
- Make sure your data is worth upkeeping.
When you merge your database with the data enrichment provider’s data, you can verify if your users are still active on the internet. After doing that, you know your database is current and doesn’t include useless user profiles or bots. Performing data enrichment regularly allows you to keep up with the changes in your users’ lives and online behaviors.
Data enrichment - list of companies
To enhance your first-party data you will need a reliable data enrichment company. The data quality will affect the effectiveness of the campaigns, tools, and strategies you develop based on the enriched data.
Below you can find some of the top data enrichment companies:
One of the world’s largest data providers that fuels other companies’ data. OnAudience delivers raw and segmented data from 200 markets to help companies create better products and services in the AdTech environment.
A data solutions company that offers audience data and DMP for enterprises around the world and provides data enrichment services.
A data solutions company that cooperates with data providers and research companies. Eyeota works with brands, publishers, and data owners to onboard, enrich and activate data assets.
Clearbit is a platform that offers B2B data enrichment in real-time for sales personalization. The tool provides the lead’s information as soon as the user gives out their email in the contact form.
How to start data enrichment process
To supercharge your first-party data, you need to implement just the right data assets and use the help of a reliable data enrichment company. Improve the use of your first-party data by following these steps:
1. Find a reliable data enrichment provider.
2. Indicate what kind of information you want to get about your users.
3. Implement the pixel on your website or provide your raw data and determine what public ID suits your needs.
4. Receive the raw data about your users directly on your servers.
5. So now you know enriching your data is a simple and necessary process if you want to make the best use of your first-party data.
OnAudience - one of the leading global data providers
OnAudience analyzes over 50 billion user profiles from 200 markets all over the world. We provide a variety of audience data and use the most popular IDs, including CTV IDs, MAIDS, and Public IDs.
Our data is constantly updated and improved to ensure the audience data used to supplement your first-party data is of the highest quality. We also pay close attention to complying with data privacy laws - GDPR and CCPA.
With an extensive database and our own DMP, we perform high-quality data enrichment processes independently of other suppliers, with attention to data privacy and offering support at each step of the process.
Our Data Science team will be glad to help you choose the best way to perform data enrichment on your user data. Schedule a free test with the OnAudience team and see what we can do for you!