Data is the ultimate point of access to any business in understanding their customer preferences rightly, and this data whether it is B2B data or B2C, needs constant updating as the customer preferences change frequently.
It requires a lot of effort and resources to collect, update or fill the missing data in the database for each of the businesses and this is where data appending services are the saviors of businesses.
What is Data Appending?
Data appending refers to the process of enriching and expanding the existing database of businesses with required additional data.
Data appending services help businesses to replace missing and outdated information with up-to-date and accurate information.
Importance of Data Appending
Imagine the amount of data used by businesses for each of the new products/services! Yes, it is vast! Businesses use data to identify the right potential customers, set prices, analyze supply and demand, manage inventory, and anticipate future trends in their industry.
It requires huge investment and consistent efforts for businesses to keep their customer’s records updated. To fulfill this need for updated customer data, businesses opt for data-appending services.
The data appending process typically involves comparing the existing data with other external sources or databases which may include appending data from trusted third-party resources or publicly available data.
Various types of data appending services cater to the different data needs of businesses. These services can be used as a combination or can be customized according to the specific needs of the industry.
Also Read: 6 Best Practices for Data Appending
Here are some common types of Data Appending Services:
Contact Data Appending: Contact data appending fulfills the missing information and updates the database with the following data:
- Name
- Phone number
- Email address
- Social Media Profiles
Demographic Data Appending: Demographic data fill out the following information that helps in creating customized location-specific marketing strategies.
- Country
- State
- City
- Zip code
Firmographic Data Appending: Firmographic data collects the information about primary components of the organization. This type of data is used by B2B businesses to facilitate effective competitive analysis and market research.
Firmographic data appending includes:
- Geographic area of organization
- Company Size
- Revenue Size & ownership type
- Type of organization/vertical
- Internal Structure
- Key contacts
- Website & email address
- Industry & technologies used
Behavioral Data Appending: Behavioral data appending works effectively for B2C businesses. It provides detailed information regarding the prospective customer’s online behavior, browsing patterns, and preferences, kind of engagement with digital content, etc. Behavioral data helps businesses in improved customer segmentation. Behavioral data includes:
- Content Consumption data
- Buying preferences and exceptions
- Search Behavior
- Purchase & web history
- Open rates and CTRs
Transactional Data Appending: This type of data appending focuses on the transactional behavior of the customer and is majorly used by B2C businesses (mainly e-commerce businesses). Transactional data appending provides the following information:
- Purchase behavior
- Purchase history
- Loyalty program data
- Return and refund data
- Cross-sell & upsell opportunities data
Social Media Data Appending: This type of data appending is used to update information regarding social media. Social media appending is used by market research firms, lead generation companies, and e-commerce businesses. The specific data collected might vary depending on the service provider and the social media platforms involved. Social media data appending provides the following information to businesses:
- Profile Information
- Social Media URLs
- Social Media Engagement Rate
- Previous social media profiles
- Social media analytics data
- Social media post data
Benefits of Data Appending Services
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Access to Error-Free and Updated Information
Clean and error-free information is the biggest benefit of data appending. Every product/service needs its marketing strategy and every marketing strategy heavily depends on the data because a well-planned marketing campaign with the wrong targeted audience leads businesses to nowhere. Data appending services are supporting businesses to reach the right target audience by providing updated data.
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Targeted Data Segmentation
Every product/service will have its target audience and not everything suits every customer and that is when businesses will have to plan their strategies according to the target audience. With data appending services, businesses can get access to accurate segmented data which allows more precise targeting of marketing efforts resulting in improved customer engagement.
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Reduces Time, Effort, And Cost
As discussed, data appending demands a lot of consistent effort, time, and costs. Businesses can save resources and the cost spent on training data collection by leveraging external data sources and appending relevant information to their current records. This not only allows resources to concentrate on core business activities but also saves cost and time.
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Increased Customer Outreach & Expansion
Data appending services allow the business to gain accurate information about its customers and also help businesses to understand their customers with different parameters. When the business has access to updated information, it automatically leads to increased customer acquisition and retention.
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Increased Conversions & ROI
Data appending provides up-to-date information to businesses at the right time. This leads to targeted segmentation of customers, a targeted marketing approach, and increased customer satisfaction. This process ensures businesses gain increased conversions and ROI.
Conclusion
Data appending services can be used for various business purposes but the core of data appending is facilitating clean and right information to the business. This ultimately leads to enhanced customer experience, increased conversions, and improved customer retention.
Additional Read: Data Appending: How to Make a Data-Driven Business Decisions