Does HubSpot do data enrichment?
The first step to building any marketing campaign is finding the right prospects for your product or service. When you can find them easily using data-driven tools like HubSpot's MarCom platform, it makes your job much easier (and more fun!). But how does one go about doing that when there are literally millions of people out there on the Internet? How would someone find me if they don't know my email address -- even if I have listed it publicly on social media pages, forums, etc.? That's where "data enrichment" comes into play.
Data enrichment refers to any process by which some type of information is filtered through a set of rules before being stored somewhere else. In other words, it allows us to extract useful information from raw databases so that we can then use this information to make better decisions. Think of it sort of like a filter. It filters all sorts of useless junk to bring you only what it thinks is important. If you're trying to reach certain demographics, a good example might be filtering potential customers who live within 10 miles of your location down to just those living within 1 mile of the store. This way, you can focus your efforts on reaching local residents rather than wasting time sending out emails to everyone in New York City.
There aren't many companies that offer such technology directly. Instead, these tools tend to get integrated into existing systems aftermarket. For instance, HubSpot offers its own prospecting engine called MarCom Prospector. However, because HubSpot has built itself around the concept of connecting together disparate pieces of software and services, they also provide their own version of data enrichment known as HubSpot Connections. HubSpot uses both terms interchangeably depending upon whether they're talking about internal technology or external relationships (e.g., MarCom versus Twitter).
In order to understand exactly what data enrichment means, let's take a look at three different examples of the term. We'll start with the simplest form of data enrichment, moving up to the most complex forms later.
What is a data enrichment tool?
As mentioned earlier, data enrichment usually gets lumped in with data management technologies. The reason why is simple enough: They both deal with storing and managing data.
For the purposes of our discussion though, data enrichment often deals specifically with extracting information from large sets of data and applying various filters to narrow things down. So while data management tends to involve the creation of new databases, data enrichment involves pulling records from old ones and performing whatever action is required.
One common example of data enrichment is credit scoring. You may not think too much about how your credit score works until you try to buy something big like a house or car loan. At that point, you discover that banks actually run algorithms based off of factors including your age, income level, marital status, debt and credit history, previous bankruptcy, criminal record, etc. Once your bank receives this information they apply a series of mathematical equations, statistics and logic to determine whether or not you qualify for said loan. Then again, you could also receive an error message saying you've been declined due to low credit rating. Either way, your credit application was processed differently based solely on the inputted data.
Another example of data enrichment is analyzing customer satisfaction surveys. Companies send out hundreds of thousands of questionnaires every year asking consumers how satisfied they were with a specific company. After receiving responses, analysts will sift through each survey and gather relevant feedback and comments. Based on this data, executives can tailor future offerings to improve consumer loyalty. Some businesses even utilize predictive modeling to figure out which products sell best during which seasons and times of day. All of this happens without anyone ever having to manually review individual answers.
This same principle applies to almost anything dealing with collecting information from multiple sources. Take online dating sites, for example. These sites collect users' personal profiles but they also require additional information from memberships, user reviews, compatibility tests and more. By crunching numbers and combining this data, researchers can predict whether two individuals will end up liking each other or not. And that's just one of the numerous ways companies use data enrichment today!
So now you know what data enrichment is, but what kind of problems does it solve? Read ahead to find out...
What is data enrichment in data mining?
If you study computer science, you probably learned back in school about the importance of data analysis. A lot of industries rely heavily on data analysis in order to perform tasks ranging from predicting trends to optimizing current processes. One popular field in particular is data mining.
At its core, data mining involves discovering patterns in large datasets and utilizing these discoveries to inform decision making. As an academic discipline, data mining dates back decades and incorporates methods from fields such as mathematics, statistics, artificial intelligence, pattern recognition and knowledge discovery. Basically, it's any activity involving analyzing massive amounts of data and attempting to draw conclusions about that data.
While data mining isn't typically associated with solving real world business problems, it certainly plays a major role in helping organizations accomplish their goals faster. Consider Google search results. What used to take weeks to index and analyze suddenly takes mere seconds thanks to modern data mining techniques. Another interesting case is Netflix recommendations. Although Netflix doesn't technically mine data, it still utilizes data mining in order to recommend content tailored to viewers' preferences. Essentially, Netflix mines its own data to learn what movies subscribers enjoy watching the most. From there, it combines this information with other data points -- like genre preference -- to come up with unique movie suggestions.
But perhaps the coolest part about data mining is that it provides insight into otherwise inaccessible areas. Let's say you want to forecast sales for a new product launch. One option might be to simply ask a few dozen representatives how their orders went last month. Unfortunately, however, this method won't give you accurate readings since it depends entirely on human memory. On the other hand, you could hire a team of statisticians to comb through past data looking for patterns. Armed with these findings, you can accurately project how successful the new product will be based on historical precedents.
Now that we've discussed the basics of data mining, read on to see how machines contribute to the practice...
What is data enrichment in machine learning?
Machine Learning is another branch of data mining that focuses on creating models capable of automatically completing repetitive tasks. Machine learning essentially teaches computers how to complete a task instead of relying on explicit programming instructions. While humans excel in visual perception, spatial reasoning and language comprehension, machines struggle with these functions. Therefore, machine learning aims to create programs that can act autonomously and intelligently based on preprogrammed instruction.
To illustrate, consider self-driving cars. To teach a car how to drive, programmers must program it explicitly with detailed commands. But once programmed, the vehicle should be able to handle unforeseen situations on its own. Self-driving cars are already starting to appear on roads worldwide although progress has been slow. Most issues revolve around safety concerns, regulatory compliance and training requirements.
Although machine learning sounds pretty advanced, it really boils down to teaching computers basic skills. Eventually, however, experts envision robots becoming autonomous beings capable of carrying out complicated jobs.
It's worth noting that machine learning differs slightly from neural networks. Whereas neural nets simulate biological neurons, machine learning simulates nonbiological elements. Unlike actual brains, machines cannot feel pain and therefore lack empathy. Because of this difference, machine learning is sometimes referred to as "neural network emulation." Regardless of terminology, the goal remains the same: Creating intelligent entities capable of problem solving and acting independently.
So why do we need data enrichment?
Let's face it: Not everything online is created equal. Sure, you can browse Facebook and check your news feed, but you'd be surprised at how many websites exist purely to manipulate your emotions. Online marketers are constantly bombarded with spammy ads designed to trick surfers into clicking links leading nowhere. Even worse, some unscrupulous folks intentionally design malware to steal sensitive information or remotely access private accounts.
All of this stuff annoys plenty of people, but it can also wreak havoc on your finances. Imagine going shopping for groceries only to arrive home to several hundred unwanted e-mails promising cheap health insurance plans, free money transfers, top secret government contracts and similar nonsense. Or imagine getting hit with dozens of phone calls claiming to represent Microsoft, Apple or Dell offering great tech support specials. With so much garbage vying for attention, it becomes difficult to discern legitimate leads from scams.
Luckily, there are tools available that allow you to cleanse your inboxes of unwanted solicitations and identify potentially fraudulent callers. Of course, you shouldn't blindly trust these services either. Be sure to vet third party contact lists against public records and verify the legitimacy of incoming messages yourself. Otherwise, you could soon wake up to tons of annoying robocalls and automated texts flooding your cellphone bill.
Have a favorite data enrichment app or technique? Share your thoughts with others in the comments section below.
As a marketer you should be using the right tools to help your business grow. The problem is that many solutions are not compatible or integrated together properly. That’s why we often hear people say “I use Google AdWords but I hate their email marketing platform". Hubspot has been helping businesses like yours for years to streamline communications and simplify tasks. They have become popular because they offer simple ways to manage multiple accounts from one interface. You can connect services such as Salesforce, Mailchimp, Shopify and more through HubSpot's intuitive dashboard. Additionally, it also offers integration with most of major social media networks (e.g., Facebook) so that users don't need to switch between different tabs when posting updates on Twitter or Instagram. And if you want to keep things really organized then HubSpot even allows you to create contact lists based on specific criteria -- e.g., "High potential" prospects. This way you will never miss out on important sales leads again!
So how exactly does HubSpot work and what makes them unique? Does this mean that all other companies are just copying them now? Let me show you how HubSpot helps boost productivity by collecting valuable customer information in real time.
The following article was written by MarCom Marketing Solutions' CEO, Mike Stenhouse. He shares his knowledge about HubSpot and its benefits. If you're looking for additional information, check out our free ebook, How To Grow Your Small Business Using Customer Relationship Management Software.
What does HubSpot do with data?
First, let me give you some background about the company itself. Founded in 2007, HubSpot started off as a small team within Oracle focused exclusively on building software products to bridge the gap between enterprise resource planning systems and modern consumer-based web applications. Since then, HubSpot has grown into a global leader in cloud technology. It currently serves over 1 million paying customers worldwide while employing almost 500 employees across offices in North America, Europe and Asia Pacific.
Today, HubSpot provides easy-to-use automation platforms designed specifically to meet today’s growing needs of marketers looking to automate repetitive tasks. From lead generation to follow up, HubSpot has helped countless entrepreneurs build successful online businesses around the world. In fact, HubSpot recently won top honours at the 2015 Gartner Magic Quadrant for Marketers & Agencies, which shows that HubSpot continues to gain momentum among B2B marketers.
In addition to offering powerful marketing analytics and reporting capabilities, HubSpot also integrates directly with CRM solutions including SalesForce, Microsoft Dynamics, InfusionSoft, Zoho and others. As a result, you get comprehensive insights from each prospect interaction – whether it be on desktop or mobile devices - and automatically send targeted messages to qualified contacts.
With HubSpot, your entire database is stored locally on your computer rather than being hosted remotely. This means no unnecessary internet traffic and better security. Plus, since everything is managed locally, there is less risk of losing access to sensitive data due to network failure or downtime.
Finally, HubSpot continuously cleanses duplicate records and improves quality scores through two key processes called Robotic Data Quality Engines (RQDE). RQDE eliminates redundant data, reduces errors and increases overall efficiency. Because these engines run 24×7, every minute of every day, HubSpot ensures that only high-quality leads end up in your inbox.
Is my data safe in HubSpot?
Absolutely, yes. We store very little personally identifiable information (PII), credit card numbers, etc. All PII fields are encrypted before ever leaving your system. Once received by us, however, those details may be shared with third parties who provide support and service to HubSpot such as payment processors, delivery providers, IT professionals and legal counsel. While we believe that sharing this type of information adds value to the experience for both our customers and partners, HubSpot takes privacy seriously and uses industry standard practices to protect any personal information that leaves your device.
Additionally, HubSpot follows strict guidelines regarding the collection, storage, transmission, processing, disclosure, distribution, ownership and protection of user information. For example, HubSpot doesn't sell customer names and addresses without express consent. Instead, we share anonymous demographic data with advertisers so that they can target their audience accordingly. Our Terms of Service expressly prohibit misuse of any user information collected by us unless otherwise specified.
If you'd like further reassurance, HubSpot encrypts all emails sent through our servers using SSL encryption technologies. Even though HubSpot cannot read the contents of the message, it can tell if the sender used an unencrypted method to deliver the mail. However, please note that HubSpot cannot guarantee 100% confidentiality of information transmitted via email. Emails can be intercepted during transit. Therefore, we recommend taking extra precautions once opening incoming correspondence. Also, remember that although email communication is secure, it is possible that unsolicited content could appear in your account after receiving spam reports from your Spam Control Center. So make sure you've taken necessary steps to filter unwanted email.
How does HubSpot integrate data?
One of the greatest advantages of HubSpot is the seamless integration of various types of databases. Whether you prefer to communicate by phone, fax, letter or email, HubSpot allows you to easily import new contacts that match certain parameters. With HubSpot, you can set up automated rules where you can define a series of conditions under which contacts would qualify as High Potential. Then, whenever someone comes into your system matching said criteria, you'll receive an alert. Or maybe you want to search for old contacts and categorize them according to date range. No matter your preference, HubSpot gives you complete control over how you wish to interact with your client list.
For instance, if you want to look for contacts older than 30 days, simply select the relevant field, choose Advanced Search, enter the desired condition and click Go.
You can also export your entire list of contacts and/or existing campaigns. Simply go to Contacts -> Export Lists and Campaigns. On the next screen, you can pick the source, destination, format, file size and password. If you already have a spreadsheet containing your current contacts and/or campaign info, you can upload it instead. Finally, you can download a CSV file containing all your exported files, thus allowing you to open and edit the resulting.csv file outside of HubSpot. Alternatively, you can opt to save the file in Excel (.xls), Comma Separated Value (.csv) or Tab Separated Value (.tsv) formats.
Where does HubSpot host data?
Unlike traditional SaaS vendors, HubSpot hosts your own data rather than having it reside on remote servers. Although HubSpot pays attention to the latest regulations surrounding Personally Identifiable Information (PII) and non-personally identifying information (NPI), we still feel comfortable storing your private data here in the US. Why? Well, unlike other vendors who might claim that their solution resides offshore, HubSpot actually owns the facilities housing your data. Furthermore, because HubSpot stores data locally, we aren't subject to the same compliance requirements as international firms. Basically, we know that we can continue operating here indefinitely without any regulatory issues popping up.
Also, HubSpot is completely PCI DSS Level 2 compliant, making it HIPAA compliant and enabling it to accept payments from healthcare organizations. By hosting your data locally, HubSpot alleviates the hassle of dealing with complicated VPN configurations and firewall settings, reducing costs and increasing speed and reliability.
Lastly, because HubSpot doesn't require monthly fees, you can focus entirely on running your business and worry less about updating outdated legacy apps.
To learn more about HubSpot, visit www.hubspot.com[http://www.marcommsolutions.ca] or call 905-834-9365. Feel free to ask questions too - we're always happy to answer them. Please leave comments below! Do you have any feedback? What features would you love to see added / improved upon?
When it comes to marketing technology that helps you manage your sales pipeline, prospecting new leads or managing existing ones, HubSpot is a name synonymous with software solutions in this space. The company was founded in 2004 by Dharmesh Shah (CEO) and Akshay Anand (VP Business Development & Marketing). It has since grown into one of the largest business-to-business companies today.
The founders have been pioneers when it came to building enterprise-grade marketing automation platforms like InVision, Demandforce and MarCom. They've also pioneered many other innovations over time such as social media management, lead nurturing, dynamic landing pages and more. Today they offer multiple products under their portfolio including HubSpot Sales Cloud, HubSpot Marketing Cloud, HubSpot PartnerCloud, HubSpot Experience Management platform, etc.
HubSpot’s success story speaks for itself. But what exactly does "data enrichment" mean in terms of its benefits? How does it help boost productivity? And finally, why did HubSpot become so popular among marketers across industries? Let's take a closer look at these questions and answers them together.
What are the two important steps for data enrichment?
Data enrichment means taking care of raw data coming from different sources within enterprises and making sure that all incoming information is properly classified before feeding it back into your system. This ensures that your internal systems don't miss any valuable insights about individual customers.
For example, let's assume you're part of a small retail store chain. You recently received complaints from some patrons regarding how slow the checkout process was. Upon investigation, you found out that there were errors on certain customer cards which resulted in a longer than expected wait time while checking out. Since then, you've started sending notifications to remind people of updates happening around their orders.
This scenario highlights how data quality plays a crucial role in improving overall performance. Poorly categorized records will only add unnecessary delays to workflows and processes. Even if you think you already have good data hygiene practices in place, your chances of missing critical issues reduce significantly after implementing HubSpot's tools.
There are various ways to enrich your data through automatic classification algorithms. For instance, HubSpot's Intelligent Classification engine analyzes hundreds of millions of documents every day, automatically tagging each document based on industry standards. Once tagged, those records go straight into your workflow without needing manual intervention.
Another way of data enrichment is to use HubSpot's Prospecting Engine tool. When using this, you'll be able to see relevant details about prospects who may not necessarily fill up forms or call centers. These include things like whether the person actually wants to receive emails from your organization, preferred channel of communication, current job title, age range, gender, location and more.
Once again, the Prospecting engine's AI algorithm makes sense of huge volumes of unstructured data and categorizes them accordingly. As mentioned earlier, once labeled, you'd get rid of duplicate entries and make sure everyone receives accurate information. If done right, this would ultimately save lots of time and resources for both sides involved.
Now that we know how data enrichment works, let's talk about what sets HubSpot apart from competitors.
What's the most impactful feature of HubSpot?
It's no surprise that HubSpot offers robust features for data enrichment. However, if you want to find out what really matters here, ask yourself this question - What problem does this solve?
To answer this, consider another situation where a client sends his credit card info to a merchant. He might end up receiving several follow-ups asking him to complete additional fields like address verification. Most likely he won't bother replying because he doesn't recognize the sender. On top of that, he probably gets bombarded with countless spam messages too. So even though he filled up his form correctly, he still ends up getting frustrated with the whole experience.
With HubSpot's tools however, he wouldn't need to worry about either of these scenarios. Instead, he could simply log onto his account and check out immediately. This happens thanks to the fact that HubSpot uses encrypted tokens instead of plain text passwords. Also, it employs multi factor authentication techniques to ensure user privacy.
Apart from that, HubSpot provides real-time alerts whenever someone tries to access sensitive areas inside your network. This includes login attempts, suspicious activity and unauthorized changes.
As far as security goes, the company takes proactive measures to keep your personal data safe. Its Security Center continuously monitors threats posed by malicious websites, phishing attacks, malware, SQL injection, cross site scripting, etc., and deploys appropriate countermeasures accordingly.
In addition to that, HubSpot partners with leading cybersecurity firms to provide users with round the clock protection against cyberattacks. All of this gives you peace of mind knowing that your confidential data remains protected behind solid firewalls.
Finally, HubSpot also allows users to set up custom email addresses for themselves or clients. Whenever a transaction occurs, senders would henceforth be directed to specific inboxes rather than generic ones. This prevents others from snooping on transactions and having direct contact with potential buyers.
What can HubSpot do better?
We understand that finding faults with HubSpot isn't easy given that it serves thousands of businesses across industries worldwide. That said, we feel it's our duty to highlight possible shortcomings worth mentioning. Here are three examples.
First, HubSpot offers limited customization options compared to competitors' offerings. While this limits adaptability, it does have positive effects as well. By keeping everything simplified, HubSpot reduces development costs and keeps operational overhead low.
Next, if you own a large scale eCommerce website, HubSpot lacks native integration with shopping carts. To overcome this issue, third party vendors are often used but that introduces yet another layer of complexity. Moreover, HubSpot doesn't allow for automated shipping tracking.
Lastly, HubSpot's mobile app can sometimes run into problems due to bugs or memory limitations. Unfortunately, the company hasn't addressed these concerns until now.
If you plan on growing bigger or have complex needs, you should definitely try looking elsewhere.
What made HubSpot successful?
One thing is clear from the above points - HubSpot is extremely competent in terms of solving common challenges faced by modern organizations. Apart from that, it also excels in offering innovative ideas and concepts that improve upon previous methods.
So next time, if you're planning to upgrade your marketing tech stack, give HubSpot a shot first!