Contact Enrichment is a feature that will help monitor a contact record with as little as an email or phone number.
Contact Enrichment, also called DataBase Enrichment is a feature that will allow you to monitor a contact that you only have an email or phone number for. We do this by "reverse appending" a name and street address to a piece of personal contact info like email or phone.
In order for MonitorBase to monitor and prescreen a consumer's credit, we need a full name and address to identify that consumer in Experian's credit file. The problem is, that most lenders only have a name and address for past clients that they have done a loan or at least taken an application for, but not all leads make it to that step in the process. Imagine being able to reconnect with everyone you have talked to in the past that didn't end up closing a loan with you. Contact Enrichment solves this by appending a best-known address to a consumer's phone number or email.
What does this mean for me?
This means you can now monitor and receive alerts for all your contacts from your past. For example, leads that you have generated, referrals that were emailed to you, contacts in your smartphone, emails in your Gmail or Outlook account, and records in your CRM that are missing an address... Imagine the guy that mowed your lawn 2 years ago, the woman that sold you your car, colleagues from a previous employer/industry, or your kid's 4th-grade teacher last year. They are all doing mortgages and they would all happily take your call when the time comes that they need financing.
For most of our users, records for which they have both a name AND street address are less than half of their database of people within their sphere of influence.
How do I use Contact Enrichment?
Whenever you import records to be monitored, whether that be through a manual upload of a CSV file, an integration with a CRM, or through our API, we will run any "partial records" through contact enrichment and attempt to complete the record with a best-known street address. On average, we can find the best-known address for 50% of partial records. So when importing contacts, make sure to always include all data points that you already have in order to get the most complete database of contacts.
How much does Contact Enrichment cost?
Free for MonitorBase users! We've added this as a value add to help you get the most out of your relationships that you have built in the past. If you have questions or need help importing your contacts, shoot us an email at email@example.com