What is an AI Data Enrichment?
We have already discussed data enrichment in the first article of this series, and now we will analyze why it is so essential for planning marketing strategies.
Data enrichment is the process of adding additional data to a dataset to make it more useful for analysis. It is a process that complements the data collection step and can take place before or after the data has been collected.
Data enrichment can be even more potent with the help of Artificial Intelligence. AI tools can extract more information from a given dataset and create new ones that marketers can use for analysis and wiser decision-making.
However, not all types of data are the same! There are two main types of data enrichment:
1) External Data Enrichment: this allows you to add metadata about the dataset from third-party sources verified as accurate.
2) Internal Data Enrichment: the second one allows metadata about the dataset from other datasets in your organization’s repository or your internal resources.
Data enrichment marketing enriches customer data with additional information to help marketers better understand their customers. It is not only one-way communication but also a two-way conversation. Data enrichment marketing allows marketers to understand their customers better and provide them with more personalized services.
How can we use it for marketing and, most importantly, which advantages can it bring?
How are Decisions Made at Different Stages of the Buying Cycle?
Before considering advantages, we need to understand how people – more specifically, our buyer personas – make decisions. The buying cycle model is a process that businesses use to decide what to produce and how to market them. As the name suggests, it is divided into different stages. These stages are:
According to the moment of the cycle – or funnel – where your target is, you have and need different data. According to that, and every specific situation, there are several things you can do with data enrichment to make your marketing strategies more effective and precise.
Here we are going to see three of them.
Data Scraping to Automate Your Marketing Process
Data scraping is extracting data from websites, databases, and other sources. It happens to be a great way to automate your marketing process and save time.
It sounds easy, but it can be trickier than it looks. The web is a vast and ever-changing landscape, and as a business, you need to keep up with the latest trends. Gathering data from the web can be an arduous task that takes up time. Luckily for you, there are automated tools that will make it much easier!
You can do data scraping manually or through automated tools. Automated tools are usually faster and more efficient as they simultaneously scrape the data from many sources.
One of the most noticeable elements is that using the correct data enrichment tools means no harm to privacy because there is no treatment of sensible data. Thanks to data enrichment, you can better select, prioritize, analyze and collect your data to make sure you will find the correct information at the right time.
You will save time and money and have a more personalized and detailed marketing process.
Using AI to Understand Your Customers’ Needs
If there is something that artificial intelligence can do beautifully, it is to help brands and entrepreneurs better understand customers.
Artificial intelligence is fundamental to collecting data from customers and analyzing their needs. The same data can lead to a personalized customer experience, a great way to create a customer fanbase and happy comebacks.
Some companies are using artificial intelligence to improve their customer service. They use it to automate specific tasks, such as scheduling appointments or emailing when a product is back in stock.
How can data enrichment help in this specific scenario?
The main answer is that it helps a lot with customer experience and personalization, which are keys for successful marketing strategies, allowing businesses to avoid using outdated information.
Isn’t it great?
Increase personalization in marketing strategies
It is not only a question of automation and targeting because once you have a fanbase, but it is also vital for you to nurture and take care of it as best as possible.
The way to do it is personalization.
Personalization is, nowadays, way more than a nice-to-have feature.
Guess which elements are its best friends? You are right – data and artificial intelligence.
Thanks to artificial intelligence and its algorithms, you can analyze quickly who your customers are, in which areas of the customer journey you lose them, or vice versa, when and why they are more enthusiastic about your product or service.
Once you have done that, you will have a lot of data, and data enrichment will be the perfect hero of your story. It will help you clean and select among this information to choose the right ones and better understand your customers to provide the most fantastic customer experience tailored to their needs.
In the past, marketers had to collect and organize data from different sources manually, and that is a time-consuming process that often wastes time on irrelevant information. Now, with AI’s help, marketers can quickly identify what they need by having all relevant information readily available.
Using data enrichment will make your brand more competitive and exciting for customers.
Contact us to help you find the best way to enrich your data.