There's a ton of data out there. By 2025, some experts suggest that as much as 463 exabytes (that's 463,000,000,000 gigabytes!) will be created each day—so it’s no wonder that businesses are relying more and more on data to make crucial decisions like the enrichment of their data.
Because not all data is created equal.
Take, for instance, the data you might find on a company's website. It's likely to be accurate and current, but it's also going to be pretty limited in scope. If you want to get to know a company, you may need to do some digging. Company websites may specifically omit certain information or only provide that which casts them in the best light.
This is where the enrichment of data comes in. Data enrichment is the process of adding additional context and depth to your data to get a better understanding of it. It's like giving your data a little spotlight so you can see it more clearly.
By cross-referencing and supplementing the data you already have, you can get a much more complete picture.
How to improve your enrichment of data
There are several ways to enrich your data, but one of the best is through Crunchbase. Crunchbase is a leading database of company information. It contains everything from financial data to funding rounds to news and press releases. Whether you're looking for job titles, names, or companies, Crunchbase is the best place to start.
In other words, it's an invaluable resource for anyone looking to do some serious data enrichment. Let's take a look at how you can use Crunchbase to level up your game.
Leveraging the Crunchbase benefits
As we explained above, there's a lot of data out there. While Crunchbase does a great job at providing a more holistic look at a company, it's still just a drop in the bucket. To get the most out of Crunchbase, you need to know how to use it effectively.
Crunchbase boasts benefits to your sales prospecting & enrichment, as well as investment and market research. Whether you're looking for existing information in your CRM or you need to scour the internet for recent updates, this is the tool for you.
With Crunchbase Pro users can export up to 5,000 rows per month from their searches into a CSV file.
Lead generation with the most up-to-date data
One of the biggest responsibilities of any Sales team is to generate leads. This can be a time-consuming and difficult task, but thankfully there are ways to streamline the process with some useful data-related tricks.
1. Build a profile of your ideal customer
Sales reps continue to waste time every day pursuing leads that will never convert. To avoid this, it's important to have a very clear idea of who your ideal customer is. This might seem like common sense, but you'd be surprised how many companies don't take the time to do this.
When you're building your ideal customer profile, there are a few key pieces of information that you'll want to keep in mind:
- Company size
- Employee count
This information will give you a good starting point for your research. You can use Crunchbase to find companies that match these criteria and then take a closer look at their individual profiles.
2. Identify key decision makers
Once you've identified some potential leads, it's time to start reaching out. But before you start randomly emailing and calling people, you need to make sure you're speaking to the right person.
The last thing you want to do is waste your time (and theirs) by talking to someone who isn't going to be able to make a decision.
To find the key decision makers at a company, you can again turn to Crunchbase. Simply pull up the company's profile and take a look at their employees. You can filter by job title, seniority, or even department. This will help you zero in on the people who are going to be able to make decisions about your product or service.
3. Research your competition
When you're trying to close a deal, it's important to know who you're up against. If you're not familiar with the other companies that are selling to your target customer, you could be at a disadvantage.
Fortunately, Crunchbase can help you out here as well. Simply pull up the profiles of the companies you think might be competing for the same business and take a look at their products, services, and even funding. This will give you a good idea of what you're up against and help you tailor your sales pitch accordingly.
Use Wrk Actions for Crunchbase lead enrichment
As technology has become more sophisticated, so has how we can leverage data. With Wrk, you can automatically combine the power of several different platforms to enrich the information on a specific lead.
Dozens of drag-and-drop Wrk Actions will complete simple, remedial tasks so you can focus on more important things (like closing deals!).
Even better, with tailored Wrkflow templates, you don't even have to design a process from scratch. Just select the template that fits your needs and we'll do the rest.
Take the Lead Enrichment template, for instance. It automatically:
- Filters through SalesForce contacts that are missing certain information
- Adds in demographic and company insights from the rest of your database
- Enriches that data with revenue and funding context from Crunchbase
- Wraps it up with location and experience data from LinkedIn
- Updates the profiles in SalesForce
- Verifies that profiles are now complete
With all of this valuable data in one place, you'll be able to make better decisions about your leads and you'll be able to close deals faster.
Automation extends your team, it doesn’t eliminate expertise
Critically, you have to remember that the enrichment of data is only useful when interpreted correctly. The more you can automate, the better, but there's still a need for human expertise. Just because a piece of software says that a lead is ready to buy doesn't mean that they are.
That's why some Wrk Actions still rely on skilled humans. Our team of professionals can quickly fill in any gaps that automation misses and make sure that your data is always accurate.
When having Crunchbase alone just isn’t enough…
With Crunchbase and Wrk together, you get all of the benefits of a world-class business database, plus the power of automation and human expertise. It's the best way to level up your data enrichment game.
Contact us today for a quick 10-minute check-in with the Wrk team.