Salesforce Revenue Cloud is a recent addition to the market that is designed to streamline and automate the process of acquiring and managing customer data.
Salesforce Revenue Cloud has quickly become a preferred solution amongst businesses of all sizes, as it offers an array of benefits that make it easier to manage and track customer data.
In this article, we will take a look at the most important reasons why businesses should consider using Salesforce Revenue Cloud. But first, let's know deeply what Salesforce Revenue Cloud is.
The Salesforce Revenue Cloud is a cloud-based service that helps retail, travel, and hospitality businesses to create custom dashboards displaying information on key customer performance indicators (CPI) like order status and price.
CPI in this context refers to Customer Profile Information stored with Salesforce CRM along with customized reports based on the various business processes of organizations.
For example: when an organization purchases food at a restaurant, they can receive important updates about the entire customer from Salesforce CRM.
The customer orders might indicate that the customer is having a 'good' experience and should be recognized for it, and upon receiving this information would prompt relevant leadership to manage processes accordingly.
Such customizations find application across various industries: airlines can quantify how revenue per seat depends on the fare class of passengers who booked air tickets through them; hotels get in-depth reports concerning traffic patterns or occupancy levels based on individual room service.
Customized View-All Reports – As mentioned earlier, users can create up to 30 separate view reports available at a glance without doing any kind of customization on the report itself. And there is no limit restricting their number as per their customer base or business interests.
Server Requirements – Introducing those who are new to Salesforce might appear intimidating with all these server requirements for using Salesforce Revenue Cloud; however, it does not really need any advanced hardware to run.
A basic home network setup would be all that is required for Salesforce Revenue Cloud installation, and only one server should suffice the task of running this cloud offering.
Adoption Curve – According to analyst predictions, sales forces will see a 25% increase in usage by 2013 compared to the 2008 study which shows that 90% are using CRM systems with 50 employees or less compared to the 2009 study showing 53% as they grow their While Salesforce Revenue Cloud is not right for everyone and many businesses will prefer to go for the traditional CRM systems, it does offer a flexible solution in terms of scalability.
Since any kind of customization can be done at ease through its 'Text-to-Speech', this product might just replace other similar inflexible features on various sales and marketing teams.
The ability to track referrals that seem to have been lost but are important after very few years provides a more advantageous end result.
Productivity: Selling on-demand and closing deals with providers that charge top fees for their services have become the norm in any business today.
With Salesforce Revenue Cloud all kinds of lead generation can take place similar to what happens from a desktop or laptop, but just not quite as efficiently; however, high-quality leads are still being gathered easily by using this product.
Salesforce Revenue Cloud for Service Providers not only offers marketing ways to attract potential customers but also gives other services that would be difficult or highly labor-intensive from a web form configuration.
CRM in Salesforce is simply amazing when it helps service providers use the power of their mobile devices and retain existing clients while at work through email campaigns regarding new deals being offered.
Customer Account Management: With this easy-to-access process, there is the ability to not only maintain customer information but follow up with clients that are looking for services from outside of their organization.
Customer Service is made both easier and more effective by providing this software capability. Also, it provides integrated blogs or vernacular media which give clients and prospects opportunities to ask questions without the responsibility of e-mailing the organization in question directly.
Service Providers: With the industry-recognized Salesforce Cloud technology they are able to sign up for paid services that give them access to professional-level tools.
Add on the integrated marketing capability and these service providers can track customers, prospects, loyalty programs or other important information easily; this provides a highly viable model for companies.
Software as Service (SaaS): When developing software in-house requires engineering resources with technical backgrounds which can be very costly.
Software as a service, or less frequently cloud computing, allows the business owner to deploy and develop new applications on their own which save money but does not necessarily require in-house employees either.
Even with the Salesforce platform in place, everything else has to be planned. Often non-visible side projects are about getting your tracking software package pushing all data through it and customizing processes – not actually achieving revenue targets.
The time one spends on this often leads to neglecting other avenues of potential income, especially when you consider a lot of newer companies don’t have any legacy systems or ways in which they can automate procedures from previous jobs – making it extremely important to optimize your relationship with customers and create new avenues of revenue.
How to Benefit: By using the functionality provided in a Salesforce profile, you can effectively assess customer journeys where an increased number of actions need to be tracked up through the various stages and at each stage getting in communication with them.
This is something that has not been possible before due to manual processes between departments; however, by leveraging almost all your industry’s chrome, it is possible to build a more intelligent and efficient sales process.
A successful company needs effective software that integrates with the rest of its systems; allowing for users access from all channels at virtually any time.
Because Salesforce provides such extensive functionality companies can benefit greatly by keeping their end-user on speed dial – putting you in closer proximity to new ideas for clients and business development.
This can be achieved by utilizing Salesforce to facilitate the identification, creation, and management of case studies – both internally with your team as well as permanently held in a repository for customers.
Consumers have never been more willing to purchase things online and this is exactly what brands are using social media to their advantage.
New projects launch, new products gain traction during reasonable price points and a number of other tactics offer consumers the brand name whilst keeping them on board!
How to Benefit: By enabling you to sell any product through Google AdWords (and ultimately Facebook ads) having your customers in front of potential forward thinkers as part of your sales process greatly increases brand awareness.
It allows for better one-to-one interactions with consumers in addition to better advertising
In an industry that is increasingly online, retailers and brands are discovering that there’s little intelligence about using Google AdWords as the sole way of reaching customers.
Although it could be argued ‘isn’t this what we want? – A single avenue through which to reach our purchased audiences.
What isn't so easy to grasp is ‘what Facebook ads can do for you?’ - or as a matter of fact what Google AdWords does.
But let's ignore some semantics and continue with the idea that one channel doesn't always give enough outlets through which to market your product – it simply doesn't provide enough prospective customers.
So, by utilizing tools like Salesforce CRM you could use your Google AdWords dashboards to carry out similar reporting procedures.
This would also be a fundamental improvement in terms of accountability as you could track how customers become aware, interact and ultimately convert into customers online!
How to Benefit: Having an internal CRM system is commonplace - but what isn't commonly spoken about is your Facebook profile pages or even the creative opportunities that it brings with social media.
Implementing either Salesforce CRM or HubSpot – or both – would give you a central platform through which to gather all your customer data as well allowing for follow-up (after purchase) interaction in terms of timely debriefs and feedback.
As was alluded to earlier, by having access directly to Google AdWords with messaging built-in, the ability is at hand to communicate more meaningful info via SMS, email etc depending on what stage your product sells itself online!
There is a multitude of cases where companies have wasted millions over the years – but it primarily comes down to a lack of data and planning: usually, you only begin profitably once your turnover grows significantly.
With Salesforce CRM or HubSpot in place, you will be able to give yourself an intrinsic guide across several aspects that could directly impact how efficiently you manage your business or construct margins on "profits".
Slow down: New products, new initiatives, and changes to existing processes or flows could mean that your salesperson's receivables levels are changing; therefore they need/should be receiving additional training.
This is another important reason why it has become necessary for companies to invest in a CRM! Therefore by using the same tools as above (Salesforce and HubSpot) you will know exactly how often your staff interacts with customers on each type of activity.
The financial ramifications of such a set-up are immense; let's assume you're growing at 5% - in just 12 months this could mean that your company is grossing 8 million dollars.
This is $1,000 per day and requires 250 full-time people to manage – isn't it reasonable enough to invest 10% each year on some tools which can then save you 200 thousand over the next 4 years.
As your business grows, knowing if you will be able to spend that investment before it is even close to fully mature/worthwhile becomes a huge factor in the bottom line: Of course, there are of course some examples such as Twitter or Facebook where (at least at this point) they can continue only grow by spending at a fast pace; I wouldn't recommend this if you're more of a slow-growing organization, but in the early stages it could be an extremely smooth process.
So how do they handle this? Well, both Salesforce and HubSpot have APIs that allow us to invest in new features or enhancements similar to how Twitter raised money: Selling your product for services is relatively easy – just take Forbes as an example.
They make this so easy that they end up charging investors like Sequoia and Softbank a whopping $250.000 for the right to use their platform with a minimum of 14-days' notice (E!!!)
Salesforce revenue cloud has revolutionized how businesses capture and manage sales leads, automate sales processes, and track customer engagement. It has made it easier than ever to improve customer engagement, increase sales productivity, and optimize sales processes.
Whether your business is small or large, adopting the Salesforce revenue cloud can make a significant impact on your bottom line! To learn more about this innovative technology, make an appointment with us today!
Since the inception of Salesforce, businesses have been searching for the perfect way to integrate it with their existing systems.
A Salesforce Revenue Cloud is the solution that many businesses have been waiting for, as it streamlines and centralizes all sales activity within a Salesforce instance, providing visibility and situational awareness for sales managers and team leads.
Arka Softwares as your salesforce consulting partner in developing and implementing Salesforce Revenue Cloud, you can be assured of a smooth, successful implementation. Contact us today to learn more.
Saurabh Sharma is a Digital Marketing Executive at Arka Softwares, a leading mobile app & web development company. He has 2 years of experience in the Information Technology industry. He spends his time reading about new trends in Digital Marketing and the latest app development technologies.