Ultimate Guide for Lead Enrichment to Boost Sales Conversion Rate

Identifying quality leads is the basic stone for successful and efficient sales, and lead enrichment is an important process to help the sales team filter out quality leads. By enriching the lead, the sales team can analyze and cherry-pick the leads with higher potential to work on.

Let’s have a quick look at what lead enrichment is.

What is lead enrichment?

Simply put, lead enrichment is a process of adding more information to the potential customers. The information includes contact details, demographic details, and firmographic data, to name just a few. The comprehensive information provides insight into the potential customers and helps improve the sales and marketing process.

Check out the video below to get an idea of how lead enrichment works:

Why is lead enrichment important to business?

Identify more potential leads

The information of a lead gathered from marketing activities or some other third-party events is usually limited. It’s not surprising as in marketing, the rule of thumb for collecting leads is to ask for less information to reduce the dropout rate. This is where lead enrichment becomes extremely valuable. With the help of lead enrichment tools, we can gather more data on the leads and filter out the ones with higher potential for purchase.

Better targeting to increase sales conversion rate

Lead enrichment provides valuable insights into potential customers, such as their industry, company size, funding type, and more. This data goes beyond just identifying leads with higher buying power. It also helps you understand which product or plan is most suitable for them. With this enhanced understanding, you can allocate sales efforts more effectively, increasing the conversion rate.

Get the right contact to save time

You have a list of potential leads to work on them, only to find out most of the contact details are not correct. Lead enrichment is, hence, the process to prevent things like this, saving your time from making the wrong calls or getting a high email bounce rate over and over again.

What types of lead enrichment data are important

Usually, the important data for lead enrichment depends on your business. If your service requires onsite support, the location of the leads is important. Or perhaps your product is a super software targeting MNC, a startup might not be your ideal lead. So the company size is important information. But in general, the following data below are usually essential to any business for lead enrichment.

Contact information:

This includes the phone number and email address. Picture this: your products target marketing professionals at companies. You have a list of marketing directors from your company's legacy records. However, as a salesperson, only with the right contact information can you call them and proceed with the sales process. No matter what kind of business you are in, contact information usually stands as the foremost data point in lead enrichment.

Firmographic data

Firmographic data helps you identify and target companies that are most likely interested in your products or services. Firmographic data, such as industry and location, provides insight into leads that match your ideal customer profiles (ICPs), maximizing the efficiency of sales efforts.

How to automate lead enrichment

Now we understand the importance of lead enrichment. Let’s get into business. How do we usually enrich the data of leads? Of course, you can manually search for the data for the leads you want, but it’s not practical and not scalable. This is where the lead enrichment tool comes in. With the right lead enrichment tools, you can automate the process of lead enrichment, saving you a bunch of time and resources.

Here, let us introduce ourselves, Sapiengraph, and walk you through lead enrichment automation to increase your productivity and enhance your sales conversion rate.

In case you don’t know what Sapeingraph is: Sapiengraph is a Google Sheets add-on that offers custom Google Sheets formulas to scrape the data from LinkedIn and Crunchbase to get the contact information or the firmographic data you need. Since everything is done in Google Sheets, the learning curve is smooth. As long as you know how to use Google Sheets, you know how to use Sapiengraph to enrich the data of your leads.

To get started, sign up for an account and you can get 100 free trial credits to pull the data. Then you need to install the Google Sheets add-on and the browser extension. Yes, you’re all set! You can start lead enrichment in your Google Sheets with formulas.

But we don’t stop here. If you don’t want to run lead enrichment from scratch, we also have a free Google Sheets template that you can enrich your leads with one click.

Use CRM Enrichment Google Sheets Template to automate lead enrichment with one click

First, open and copy this spreadsheet. In the tab “Add New Lead”, add the lead’s LinkedIn profile URL you want to enrich and press the button “add to CRM”. The data will show in the tab “Leads CRM”.

Now here’s the magical part. In the tab “Leads CRM”, tick the box in column B and click the button “enrich”. And voila, the lead enrichment is done and you get all the information of the leads you need!

With the CRM enrichment template, you can streamline your lead enrichment process and focus on nurturing leads to increase the sales conversion rate. If you want a step-by-step guide on utilizing this template, you can read the full guide.

Bonus tips: what other data of lead can you enrich

Our CRM enrichment template can automate the lead enrichment process to get the most important data of leads, such as contact information, company name, and industry. But Sapiengraph can enrich more data than that.

For example, you want to know the funding type of the company. You can use this formula:

=SG_company_funding("https://www.linkedin.com/company/pinterest/","funding_type")

Or perhaps you want to know the company size, then this formula will come in handy:

=SG_EMPLOYEE_COUNT("https://www.linkedin.com/company/pinterest/")

We have thousands of formulas that can help you enrich the data of leads you need. Check the formula guides to find out more!