5 ways data enrichment in a CRM can grow revenue

Did you know that 77% of IT managers don’t fully trust their organisation’s data for decision-making? According to SnapLogic research, this lack of trust leads to missed revenue opportunities and poor customer engagement.

Ensuring data accuracy at the point of entry is essential, but data enrichment goes a step further—adding valuable insights to your existing records. This process helps improve customer reach, campaign targeting, and sales.

Here are five powerful ways to enrich your CRM data and drive revenue growth:

1. Create a Single Customer View

A Single Source of Truth (SSOT) ensures that every department in your organisation works from a single, accurate customer record. This eliminates duplicate data, incorrect addresses, and misspellings, providing a clear view of customer interactions.

Case Study: Matrix Telematics

Matrix Telematics needed a single, accurate view of its customers to manage risks like fraud and defaulting. Hopewiser helped cleanse and consolidate their data, saving time and money while improving reliability. The solution was so successful that they now offer it to their clients.

2. Enhance Your B2B Data with SIC Codes

There are over 5.7 million businesses in the UK. By adding Standard Industry Classification (SIC) codes to your B2B data, you can:
✅ Identify which industries your customers belong to
✅ Discover the most profitable sectors
✅ Spot underserved areas for future growth

Example;

A longstanding client software company used SIC codes to segment its client base by industry, company size, and turnover. This enabled better business planning, targeted marketing, and improved customer engagement.

3. Expand into International Markets

To succeed in global markets, you need accurate international address data. Adding International Datasets ensures faster deliveries, better service, and fewer failed transactions.

Example;

Over 35% of Irish properties share address details, making delivery logistics a challenge. Hopewiser’s Eircode Address Database helped a client improve address accuracy, reducing failed deliveries and optimising postal discounts.

4. Offer Competitive Rates Based on Location

Geographic data enrichment adds postal data, latitude, and longitude to customer addresses. This insight helps with:
📍 Regional marketing campaigns
📍 Competitive pricing based on location
📍 Better business planning

Example;

• A major insurance company used grid reference data to offer more competitive rates based on customer location, improving satisfaction and retention.
• A local council used postcode analysis to optimise waste collection, saving £160,000 per year by reducing unnecessary bin lorry routes.

5. Maximise Your Future Marketing Returns

Using data like Hopewiser’s “PAF Amends” dataset, businesses can identify new residential and commercial builds before they’re even occupied. This allows for early marketing campaigns targeting high-demand areas.

Example;

A leisure company targeted new-build homes within a 5-mile radius of their outlets. By sending welcome packs and discount vouchers, they attracted new residents before competitors could.

Unlock Your Data’s Full Potential

Enriching your CRM data isn’t just about accuracy—it’s about unlocking new revenue streams, improving customer engagement, and gaining a competitive edge.

Want to see how data enrichment can benefit your business? Contact Hopewiser today!