Data Enrichment
Made Simple

Data capture refers to the mere collection of data to form part of a database. In general, these are descriptive in nature and refer to what they buy, the communications they open, browsing our website or social networks, the type of information they have requested, etc.

Enriching data for a customer consists of assigning fields to each of them to add value. In this way, we can segment our customer base according to their behavior. And what is the advantage that this segmentation offers us? That of personalizing the marketing strategies that are carried out so that they are in accordance with the specific needs of each client.But is that enough? The answer is no, as customers are becoming more demanding and their preferences are changing rapidly. Not only must we be reactive and proactive, but the responses or communication that is carried out must be specific for each type of consumer. Since nowadays experience prevails above all else, it must be as personalized as possible.

As the saying goes, when we want something, something costs us, and data enrichment also has its difficulties and drawbacks. The sources for obtaining this valuable information are, as we have said, very diverse, and if they are not constantly updated, we run the risk of it becoming out of date.On the other hand, and in accordance with the New Data Protection Regulation (RGPD), both obtaining and manipulating data requires consent. This involves extra work, since now, the update does not refer only to the relevance of the information, but must comply with regulations and, at the same time, obey the decisions of consumers. Data enrichment is therefore also affected.

Putting aside the current drawbacks, the benefits of data enrichment are obvious. The main ones are the following:Optimization of segmentation: increase in the effectiveness of marketing campaigns when the data is of quality.
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Specific customer profiles: identifying patterns and behaviors allows you to carry out differentiated marketing strategies that are attractive to each profile. Both for the acquisition of potential customers and for the retention of current ones.
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Generation of affinity models: by knowing the specific tastes we can promote the sale of complementary or cross-selling products and those of a higher value, also called up-selling .
Profitable customer retention: customer relationship management or CRM allows customization of the deal to retain the highest value customers.
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Data enrichment shows us the importance of quality over quantity. It is useless to have broad bases if we do not transform them into relevant information.