The real cost of low performing data enrichment programs

Openprise pioneered the multi-vendor data enrichment solution more than six years ago. After many iterations of learning and working with different data vendors, today our multi-vendor enrichment (MVE) delivers industry-leading results using the proven waterfall methodology. Here are some real-life results from just the last 3 months:

• A Fortune 500 cybersecurity company has been using a leading contact enrichment vendor that has failed to enrich a significant portion of its marketing database, especially for European contacts. The company now uses Openprise MVE to enrich the leads this vendor has failed to enrich. Over the last 12 months, Openprise was able to enrich 51% of these “leftover” leads.
• A Fortune 500 digital media and technology company has been using a leading account enrichment vendor for the last 10 years. While this vendor did a good job on the enterprise account database, it was only able to enrich 50% of the SMB database. At the beginning of 2024, the company’s IT team brought in Openprise MVE and has achieved a 38% uplift for a total enrichment rate of 88% for its SMB database.
• An 800-person, fast-growing data management technology company completed a head-to-head bakeoff of Openprise MVE against two leading contact data vendors. The data enrichment rates were as follows: Openprise 79%, Vendor Z 56%, Vendor L 55%.

In addition to the high enrichment rate, Openprise MVE also has the:

• Highest data completeness
• Highest fill rate on mobile phone number
• Highest match rate on personal email address

A quick data enrichment ROI calculation

This is obviously great performance over leading data vendors. However, what does this high match rate mean in terms of hard $$$? Here is a quick model to help you understand the impact.

Say you have a marketing database with one million records.

Your existing data enrichment vendors are able to enrich 60% of your database, leaving 400,000 lead records stale.

Based on customer performance, Openprise MVE  provides a minimum of 25% uplift, so you’ll be able to enrich 100,000 of those 400,000 unmarketable leads.

It costs money, a lot of money, for the demand gen team to add a new lead to your database: cost-per-lead (CPL) averages range from $100 to $500 (https://firstpagesage.com/reports/average-cost-per-lead-by-industry/).

Using the very lowest CPL, replacing 100,000 unmarketable leads with new leads would cost your demand gen team $10 million.

In comparison, by using Openprise MVE to resurrect those leads at $1 each, your ROI would be $10m/$100k = 100x. What other GTM programs can you think of with that kind of ROI?

Watch our on-demand Enrichment ROI Calculator webinar to learn more! Share your thoughts in the comment section below.

Interested in learning more about data enrichment? Download The GTM guide to buyer-centric data enrichment to understand enrichment challenges, explore common solutions and their alternatives, and see why a buyer-centric solution is best.  Or, watch the Openprise Enrichment: Better understand your prospects to close more revenue.

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