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Tag: Visual Analytics

  • Salesforce Marketing Cloud: Definition, Products, and Advantages

    Salesforce Marketing Cloud: Definition, Products, and Advantages

    Businesses rely on a plethora of tools to boost brand visibility and customer experience (CX). From pre-sales to post-sales practices, teams use multiple marketing solutions to manage campaigns and maximize outcomes on digital channels. 

    Despite having access to the best features and solutions for marketing, most teams do not realize their annual goals. Decentralized data infrastructure, lack of personalization, and delayed decision-making are the primary causes behind an organization’s marketing gaps.

    To ensure better customer experience and campaign outcomes, teams need a solution that allows them to control and manage tasks from a single platform. Salesforce Marketing Cloud is one such platform that organizations can use for all sorts of marketing campaigns and practices.

    What is Salesforce Marketing Cloud?

    Salesforce launched Marketing Cloud in 2019. The solution is designed to manage and optimize interactions on digital channels. From running personalized email campaigns to monitoring social media interactions, you can do everything with Salesforce Marketing Cloud (SFMC).

    Implementing SFMC can power up your digital marketing efforts, bridge gaps between your sales and marketing departments, accelerate decision-making, improve personalization, simplify customer understanding, and reshape your relationships with customers so you can maximize business outcomes. 

    You can integrate it easily with your day-to-day work apps by hiring qualified Salesforce Marketing Cloud Consulting experts. Instead of toggling from one solution to another, you will be able to view and manage comprehensive marketing interactions in SFMC.

    dont miss out iconDon’t forget to check out: Ways of Populating Data Extensions in Salesforce Marketing Cloud

    Salesforce Marketing Cloud – Products

    Marketing Cloud offers a variety of products and tools with each offering a unique value proposition. Every product offers a bouquet of functionalities with which you can strengthen customer touchpoints and boost business sales.

    • Journey Builder: It helps users to serve personalized experiences at all stages of customer journeys. You can use Journey Builder to tap into customers’ browsing habits, preferences, expectations, and purchase history and accordingly create a unified customer experience for various digital interaction channels like advertisements, email, mobile, web, etc.
    • Data Studio: Discover exclusive customer insights and tap the unexplored potential of your data. Data Studio comes with exceptional capabilities to store information about customers and share it with trusted partners.
    • Social Studio: Understand customer behaviour on social channels in real-time with Social Studio. The tool offers comprehensive reports & insights, offering a vibrant picture of their consumers by directing their social media content to the CRM platform.
    • Dataroma: Dataroma offers customers a unified dashboard through which they can capture and review performance on marketing channels. It gives comprehensive insight and reports on social media, emails, sales platforms, and landing pages.
    • Pardot: It assists sales teams to capture more territories and close more deals. You can automate campaigns, monitor and calculate marketing ROI, and produce more leads with Pardot. Additionally, it comes with lead nurturing and segmentation features for optimum lead management.

    Mobile Studio, Interaction Studio, Einstein, Advertising Studio, and Email Studio are some other tools that come under SFMC CRM. You can choose the best-fit tools in SFMC after discussing with a Salesforce Marketing Cloud Consultant.

    Advantages of Salesforce Marketing Cloud for a Business

    Marketing Cloud offers a wide range of benefits to businesses. Let’s explore some of these below:

    1. Complete Solution for Marketers

    Salesforce Marketing Cloud is equipped with a wide range of marketing tools by which you can tap potential customers and boost digital branding. While it’s AI and visual analytics capabilities allow users to make accurate decisions, automation workflows and personalization capabilities in SFMC shorten marketing interactions and offer customers a connected digital experience. 

    1. Well-Connected Ecosystem

    Marketing Cloud is an integral platform that allows execution, management, and analysis of diverse marketing operations in a single place. Whether you want to send emails, create engaging social media content, tap customers via personalized messages, boost advertisements, or develop marketing campaign strategies based on insights, you can perform very well in SFMC.

    dont miss out iconCheck out another amazing blog by Alok here: Salesforce Integration Mistakes to Avoid for Better Outcomes

    1. Improved Sales Outcomes

    Marketing Cloud allows digital marketers to view deep insights through analytics and prediction sales features. While built-in automation allows you to shorten the sales pipeline, AI helps you make insight-based decisions. Using customization features, teams can modify their sales pipeline the way they want.

    1. Enhanced Security

    Security is ensured when you avail yourself of services of the Salesforce platform. Cloud-based Salesforce Marketing Cloud offers highly secured encryption by which you can keep your data safe from potential risks and vulnerabilities. 

    Bottomline

    Salesforce Marketing Cloud offers you all the features and tools to manage diverse marketing activities. Implementing SFMC can help you make proactive actions to predict the customer’s next move. Additionally, since it can be integrated with day-to-day work apps, you can manage various touch points on a single platform. 

    While Marketing Cloud can be the go-to tool for marketing management, teams should hire Salesforce Marketing Cloud Consultants for optimum license usage. Hiring Salesforce Marketing Cloud Consultants will allow you to design processes and workflows in a business-centric manner and achieve desired marketing outcomes.

    Need help in Salesforce Marketing Cloud implementation? Hire our on-demand product consultants, admins, developers, and tech architects.

  • 4 Financial Service Trends for Businesses and FSIs | Salesforce Financial Services Cloud

    4 Financial Service Trends for Businesses and FSIs | Salesforce Financial Services Cloud

    Digital adoption has increased in the past few years, especially across banking, insurance, and wealth management segments. It has shown a steady growth despite the long-lasting pandemic followed by ever-increasing inflation. This digital growth also makes one thing clear financial services customers prefer business online and are not going back to pre-pandemic ways.

    A recent survey conducted by Deloitte reveals business leaders’ expectations with respect to rising digital enablement in recent years. As per the survey, wealth managers expect around 75 percent of engagement to be digital in the next two years — double existing numbers. Keeping a note of the current financial services trend, business leaders are trying hard to make their services digitally visible and consumable. 

    As a financial business, you would want to step up your services and make them more digitally consumable in upcoming years. But this can happen only when you enhance your customer interactions. Since Financial Services Cloud Solutions are primarily used for customer management, the innovation and change in business strategy should begin with solution infrastructure.

    dont miss out iconDon’t forget to check out: Relationships in Salesforce Financial Services Cloud

    In this blog, we have listed 4 major trends that can help financial businesses and institutions improve service delivery and customer experience. Let’s discuss these trends one by one.

    • Offer Easy and Transparent Experiences

    No customer wants to go through a multiple-step process, it is just too tiring and frustrating. If this was not the case, Financial Services Institutions (FSIs) won’t be losing customers to businesses with a better online experience. In a survey conducted by Salesforce, more than 40 per cent of respondents put intuitive UI, navigation, and fast onboarding as the top priorities in a financial solution.

    Transparency is another reason that is prompting existing customers to switch to a new service provider. Many financial institutions charge hidden fees and inexplicable fines that add to customer distrust. Offering easy and transparent experiences through financial services cloud solutions are necessary for customers and without that, they will be looking for better alternatives.

    • Usage of Predictive Personalization

    Customers don’t just want the products and services of financial institutions. They want to work with a partner that cares about their financial health and business growth. A recent report published on Salesforce suggests that only 11 per cent of banking, 11 per cent of insurance, and 18 per cent of wealth management customers agree that their FSIs are interested in their financial interests, showcasing distrust of consumers in financial institutions. 

    Using predictive analytics capabilities of advanced financial services cloud solutions can help FSIs to share beneficial recommendations for consumers. These solutions leverage AI and ML capabilities and can be used to offer predictive personalization based on the customer’s journey.

    • Using Automation in Backchannels

    Customers are largely not aware of the impact of automation that happens behind the scenes. However, most of the digital interactions we design at Damco are a result of automation where tons of data move from one data to another. While end-to-end automation may be difficult to accomplish for most FSIs, one can automate selective process areas to get maximum results.

    UK’s Ascot Group reduced underwriting time by 60 per cent by using the Salesforce platform for automation.

    If your processes are semi-automated and you are finding difficulty in serving customers or reaching your productivity goals, consider integrating it with a dynamic solution like Salesforce Financial Services Cloud. By doing this, you can make use of Salesforce’s automation workflows, visual analytics, and more capabilities offering customers better than what other businesses with similar toolkits will offer. 

    dont miss out iconCheck out another amazing blog by Alok here: 7 Steps In an Ideal Salesforce Change Management Process

    • Get Creative with Customer Data

    For most Financial businesses, customer data is segregated which creates roadblocks to getting a comprehensive view of customers. If you are a financial business that does not have access to first-party data (which most retailers do) or has acquired a business, you will be aware of the data challenges. 

    The best way to deal with this challenge is to get creative with user metrics. Here are some tips to do that:

    1. Establish partnerships with external data providers who can offer better data insights. 
    2. Track customer journeys by looking at their behaviour at every stage. You can easily do that with a solution like Salesforce Financial Services Cloud which comes with Journey Builder and more such tools.
    3. Invite design partners like Damco to access the customer journey and add some value to your CRM through suitable migration, integration, or customization.

    Securing a Digital Future With Financial Services Cloud Solutions

    To boost service delivery and raise the experience of customers, FSIs need to make small changes in their infrastructure and process functioning. Implementing advanced Salesforce Financial Services Cloud Solutions can help in reducing reliance on manual workflows which ultimately will improve your organization’s productivity and service delivery. Since digital adoption is quite high in the country and customers will largely rely on digital platforms in the coming years, it would be wise to invest in new solutions and innovation trends.