In today’s digital era, online shopping has become the norm. In fact, the past few years have seen an exponential rise in the number of consumers opting for online shopping rather than shopping from brick and mortar outlets. This shift in consumer buying behavior can be attributed to the advancement in technology, as well as easy and secure payment methods.
As consumers are cognizing the benefits of digitization, the trend for E-commerce or online shopping has eventually caught pace. So much so that merchants who fail to mark an online business presence run the risk of either being left out or trail behind. While online platforms have proved to be beneficial for both customers, as well as marketers, marketers struggle to deal with challenges such as generating traffic, capturing potential leads, retaining existing customers and more.
What is Salesforce Commerce Cloud?
Salesforce Commerce Cloud is a part of the Salesforce CRM platform that helps marketers to provide a superior experience to their customers across all channels as it offers solutions for marketing, customer service, and more.
The Salesforce Einstein powered platform due to its AI capability has helped marketers sustain market competition by helping them understand the buying behavior, preferences, search pattern, and engaging experience across all channels.
Benefits of Salesforce Commerce Cloud
Predictive intelligence platform with in-built Salesforce Einstein does away the need for spending time and money on searching a compatible Analytics platform for your e-commerce platform. Some of the
key benefits of having Salesforce Einstein integrated include the following:
It suggests the most relevant products to customers by decoding their search and search pattern.
For every user, it has a separate/unique suggestion based on their search patterns.
It helps in identifying upselling and reselling opportunities.
It provides data-driven real-time insights of each customer.
It helps at every stage in the sales process. It helps in boosting up the traffic by improving the page rank, faster SEO page optimization, build traffic with the help of its inbuilt mechanisms. It eventually helps organizations generate more revenue and save the extra bucks.
It has helped merchants manage their orders, inventory, marketing, sales, etc. all on the same platform.
Earlier merchants used to use separate tools to manage Orders, Inventory, Marketing, Sales, etc. Now, these can be managed on a single platform. This has helped merchants save money and increase revenue significantly.
These days most of the customers prefer to do shopping over mobiles and tablets rather than via computers and laptops, which allows them to shop while on the go. Salesforce Commerce Cloud is mobile-friendly, and it allows merchants and customers to buy, sell, and manage through their mobile phones.
With the help of Salesforce Commerce Cloud, merchants are able to do marketing like never before. They are not just able to pitch the right products to customers but they are able to pitch them at the right price and at the right time.
It even enables merchants to customize the search query for their products based on the customer intent search which will eventually make their product more visible. It even helps merchants manage sales campaigns, email marketing, etc. at the same place.
It provides 24/7 support to merchants and customers alike. It keeps on providing patches, new features, and security upgrades that make it more reliable and future-ready.
Considering the different aspects like marketing, inventory, campaigns, revenue, etc. it manages, it won’t be wrong to say that it is one of the most impactful software’s present out there for any business.
It does not just help merchants to identify the requirement of the customers but even help them identify the right audience for their different products. It even helps merchants to set future goals with the help of its predictive analytics. It is a one-stop solution for merchants to increase their reach from a few hundred people to millions of people all across the globe.
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For almost 2 decades Salesforce users were using pre-built reports and dashboards to have a quick look at their data. But with time, data has increased exponentially and it has become quite difficult to manually look for the required data. Due to this very reason, Salesforce has launched Einstein Analytics, a platform that solves the challenge of gathering the required data at one place to answer key queries related to organization sales.
What is Salesforce Einstein?
Salesforce Einstein is Artificial Intelligence integrated into the Salesforce Platform which allows organizations to automate the reports, identify the needs within the workflows, and even the effectiveness of each sales team within the organization. It has transformed the way organizations used to analyze their data. Organizations can now track their KPI’s, annual reports, sales pipeline, etc. seamlessly by eliminating the dependence on mathematical models and algorithms.
Salesforce Einstein’s artificial intelligence stage takes sales/revenue forecasting to the next level by providing new useful real-time insights depending on the real-time data coming in the system. It progressively adjusts itself to modifications and new information. It assures if there is any unexpected change in the market then it can rapidly change its forecast and predict according to the new requirements.
Salesforce Einstein AI Impact on Business
Sales Salesforce Einstein offers various features to provide a better insight into the sales. It has features like Activity Capture which automatically captures the data from various sources like emails, call logs and, salesforce chats and saves sales reps time from manual data entry. It even recommends good quality leads and opportunities to sales reps who can nurture them.
Marketing For the marketing folks. it is a clear winner as it helps them with forecasting customer engagement, tracking social media engagement, launching email campaigns, etc. It even helps in transforming the organization image by suggesting suitable content.
Customer Experience Salesforce Einstein has capabilities of enhancing customer experience by automatically extracting customer’s information and providing real-time insights about the customer like their pain points, requirements, etc. By having all the necessary information sales reps can nurture customers in the right direction.
Commerce AI powered Salesforce Einstein guides organizations to sell the right products, provide special offers to customers at the right price and at the right time. This even helps organizations in selling and upselling services and products to the customers by tracking their previous purchase history.
Key Features of Salesforce Einstein
Voice Commands This feature enables you to perform various functions with a voice command. It does not just listen it even answers back in the same way. You can set-up meetings, get news updates of prospects, view dashboards, etc. by using the voice commands.
Natural Language Processing (NLP) This feature enables Salesforce to understand what the users are trying to say in their emails and messages. It spots the keywords present in customer’s/prospects messages and suggests response accordingly. This reduces the time of reply, and customers/prospects will be addressed quickly.
Action Oriented It automatically takes actions on things that sales reps might not have asked for like scheduling a follow-up call or a follow-up meeting with the customers. It self-analyses the meeting notes and takes appropriate actions that save a lot of sales reps time.
Scoring With Einstein Lead and Opportunity scoring, it looks into the insights of leads and opportunity, and based on the available information it scores the leads and opportunities. By looking at the score, sales reps can pick up those leads with a higher score to nurture first.
Salesforce Einstein AI Benefits for Organizations
Sales Pipeline Management One of the most important and useful advantages of Salesforce Einstein AI is its ability to keep on modifying/updating the pipeline on a real-time basis. It helps in evaluating trends in opportunities and provides a list of opportunities that can be closed with ease and those which require attention. By using it, organizations can focus on the right opportunities.
Account Insights With Einstein Account tool, organizations can get the latest news related to financial results, mergers, and acquisitions, etc. for their prospects and customers. These insights can be leveraged by the sales teams and marketing teams to run personalized marketing messages and special offers for every prospect.
This tool even captures information like the impact of the marketing campaign, clicks that come through campaigns, etc. The effectiveness of the campaign can be visualized on a dashboard where the organization sees the success rate of marketing and sales generated through it.
Performance Analysis Organizations can use Salesforce Einstein to monitor the opportunities in the sales pipeline and the sales teams monitoring them. They can further compare the performance of every individual present in the sales teams over different parameters. Leader View Dashboard presents a top-notch view of sales rep performance over time. After analyzing the performance of every individual at various parameters organization and reward their top performers.
Whitespace Analysis Whitespace analysis is the process of uncovering new opportunities. With the assistance of Salesforce Einstein, organizations can execute whitespace analysis and look out for new opportunities. Salesforce Einstein has the potential to recognize which product or service has been sold to which accounts and it further creates feasible opportunities depending on the account’s previous/current requirements.
Artificial Intelligence has an undeniable influence on all walks of life. In today’s world, an AI based platform, such as Salesforce Einstein, provides the best scenarios and retrospective to make the experience of selling process human-like which helps an organization in increasing sales and automate the process and prepare for the future market needs.
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Sales Analysis Provides Logical Answers to your Question
For every organization, the sales function continues to be the most important function as it plays a significant role in building trust between a customer and a business entity. Organizations usually spend enormously in sales-related activities to gain edge over their competitors. However, sales related business decisions taken on others advice or by own “gut feeling” could be quite risky that too when a large amount of money is at stake.
Sales Analysis is the process which is used to understand, identify and predict sales trend. It leverages the historic data to determine the failure/success of the previous sales drive and helps in identifying the area of improvement. With sales analysis organizations no longer need to take decisions based on their gut feelings as it provides logical answers to their sales-related queries.
Importance of Sales Analytics:
There are several benefits of incorporating Sales Analytics into the Sales function. Let’s take a quick look at some of them.
Fill the gaps: By Analyzing their available data, organizations can figure out where they may have missed out on the opportunity of converting a prospect to a customer. This will eventually help organizations fill the gaps in the sales process, as well as the gaps in their products.
Organizations should analyze their product and understand what their competitors are doing to remain competitive, what’s not working for you and how can you fill in the gaps.
Increase Retention Rate: If organizations can figure out why any deal got closed, then they can keep their customers happy and build a strong relationship with them. It is important to understand the need of the customers so that organizations can upsell and cross-sell other products to the existing customers, which significantly adds to the revenue. In addition, by looking at the purchasing patterns of your existing customers you can recommend what customers can buy next, based on what these customers have bought in the past.
Accurate Sales Forecasting One of the most obvious and important feature of Sales Analysis is the ability to predict the future sales based on the available data. Unlike setting up goals based on the “gut feeling”, historic data gives you an accurate, realistic picture of how much your organization should be able to earn within a specified time period.
Competitor Sales Analysis In industries like automobiles, sales made by all the organizations are made available on the public platforms. Organizations can use their competitor’s data to see which product of their competitor is selling the most. They can even get the answer to the question like where and why a particular competitor’s product is selling the most. Based on their analysis they can revamp their product lineup, product pricing, introduce new product etc.
Future Decision Making Organizations can even make future decisions like whether an organization need to introduce new products or discontinue any existing product. It even help organizations effectively manage inventory, marketing activities, sales offer roll-out time, manufacturing process etc.
More efficient Marketing Sales Analysis helps organizations identify market opportunities and trends to support product marketing. If an organization is planning to launch a new product then it is very important to know the answer of below questions When should the product be launched? Q2. Where should the organization launch the product? Q3. How should it be marketed? Q4. Who is the target audience? All the above questions can be answered by using sales analysis. By having answers to all the above question, organizations can launch their product at the right time and can target the right audience, which will help them have a good sales number.
Type of Analysis Sales Analysis could be done in many different ways based on the available data with the organization. Common types of Sales Analysis performed are mentioned below:
Product-wise Analysis Organizations can use product-wise analysis to identify which product is selling most and during which time of the year. For example, winter clothes are sold most between November – January whereas summer clothes are sold most between May – September. Based on this analysis, organization can manage the new product launch date, inventory etc.
Forecast vs Achievement analysis With the help of Forecast Analysis, organizations can see whether they are able to meet their monthly/weekly/quarterly targets or not. They can even identify how much they should be looking for in the month/week/quarter. Based on their analysis they can make required changes in order to meet the desired organizational targets.
Periodic Analysis Periodic sales analysis are the ones which help organizations compare two or more different time period sales. Organizations can analyze the data and see which decisions of the organization has helped them in boosting up the sales and which decisions have led to dip in sales.
To sum up, Sales Analysis is something which will help you identify the gaps not just in the organization’s sales process but even in other areas as well, like gaps in product, release of the product etc. It even provides a logical solution to fill the gaps in order to increase the sales and reduce the losses.
It enables organizations to take decision based on the facts rather than on their “gut feeling”. On being leveraged appropriately, Sales Analytics can help organizations deal with all the roadblocks, which they might encounter during their Sales journey.
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Salesforce is the most trusted name in the world of CRM software. Salesforce has taken customizability to the next level by allowing its customers to choose between two different user interfaces: Salesforce Lightning, and Salesforce Classic.
Salesforce Classic as the name suggests is the original and older version whereas Salesforce Lightning is the new version that carries several new features that aren’t available with ‘Classic’. What’s new in Salesforce Lightning? Salesforce Lightning is the latest version of the salesforce org’s interface. The intuitive and intelligent design will empower users to navigate the platform seamlessly and work with greater efficiency. This will influence better decisions and help teams to close more deals From Campaign, Leads, Contacts, and Accounts to Opportunity, Pricebook, and Products, etc everything has been re-organized to provide a modern visual appeal. The intent behind redesigning the interface was to make the tool,as well as the data more accessible to Sales Reps so that they can close more deals that too quickly. Let’s take a quick look at the Opportunity display screens images displayed below to draw a clear comparison between the two versions i.e. Salesforce classic and Salesforce Lightning:
Salesforce Lightning Screen
Salesforce Classic Screen
Listed below are some features which have been introduced in SalesforceLightning:
Customizable Home Page: Users can now customize their home page. Now they can show the information they need the most on the Homepage.
Enhanced Reporting Lightning has the Lightning Report Builder which helps in creating improved reports. It also provides improved and efficient visual reporting which saves time involved in creating and reading reports.
Columns on Dashboard In Lightning, Dashboards are not confined to 3 columns anymore.
Activity Timeline With this Sales Reps can now easily keep a track of their planned and accomplished activities for a specific lead, account or opportunity.
Lighting Experience Lightning Experience comes with no extra cost.
In the below image you can see list of new features introduced in Salesforce Lightning.
Source of the above table – https://trailhead.salesforce.com/en/content/learn/modules/lex_migration_introduction/lex_migration_introduction_rightforme
Key Benefits of Salesforce Lightning:
Integration with Einstein AnalyticsEinstein Integration is available in both the Classic and Lightning Version of Salesforce for creating reports and dashboards, but the Lightning version has more integration with Einstein as compared to the Classic.Einstein is a game-changer in itself as it carries its own database that fetches the data from salesforce instance and updates reports and dashboards each hour automatically. It even comes with features like:
Export Dashboard as a picture.
Ability to edit widget on dashboard.
Ability to do advance formula calculation.
Improved Security Salesforce Lightning comes with enhanced security features like ‘Locker Service’. Locker Service helps in safeguarding the platform from malicious data by preventing Lightning components to interact with each other. Besides this ‘Locker’ uses the Content Security Policy to prevent cross-site scripting, which helps in avoiding code injecting attacks.
Opportunities Kanban View It is a visualization tool for opportunities. In the Kanban view, Opportunities are displayed as cards. The lanes/columns in Kanban view represent the different stages of the Opportunity.
Sales Reps can now change the Opportunity stage by simply dragging them from one column to another. Sales Reps can even customize, and personalize alerts on key deals.
New Design One of the major differences between the old and the new version of the salesforce is the User Interface. The Salesforce Lightning offers a better UI experience to its users as it includes features like news about key accounts and deals and performance charts, which were unavailable in the Classic version.
No Extra Cost Salesforce Lightning doesn’t cost an extra penny more than theSalesforce Classic and remains pretty much the same. Long-time users of the Salesforce Classic can move to Salesforce Lightning without paying anything extra for a new license.
Features Unavailable in Salesforce Lightning Listed below are some of the features that are unavailable in the new version:
Apps from AppExchange: Many apps that were working in theSalesforce Classic will not be supported in Salesforce Lightning unless they are made Lightning Ready. If any app is not supported in Salesforce Lightning, even then you can continue to use them in Salesforce Classic.
Search: Salesforcehas completely revamped the way search used to work in Salesforce Lightning by removing the Sidebar Search and the Search All button.
Which one should we Opt for? As the sayings goes “Old is Gold but New is Diamond”, in the same way Salesforce Classic was something huge in the early 2000’s but with revamped UI, enhanced analytics, better security, etc. Salesforce Lightning has become a preferred choice. Though the new version i.e Salesforce Lightning offers several new features over its classic counterpart, it’s important to measure the pros and cons of both the system before making a shift.
About Girikon –
As a Salesforce silver consulting partner, Girikon is an excellent Salesforce Implementation Partner as it helps businesses in the effective implementation of the Salesforce CRM.
Gartner predicts that by 2020, all new entrants and 80% of historical vendors will offer subscription-based business models, regardless of where the software resides. The challenge which companies following the subscription based model faces is of having a strong sales pipeline.
A sales pipeline is a journey with a set of stages that a prospect moves through, in order to become a customer from a lead. Once each pipeline stage is completed, the prospects are advanced to the next stage till it reaches the final stage i.e. Closed Won/Won.
These days’ companies spend enormously on building their Sales Pipeline as having a strong sales pipeline helps companies generate more revenue. It won’t be incorrect to say that the sales pipeline acts as a backbone of a business.
By having Bulk Rebook feature in your CRM you can build a strong sales pipeline with just one click. It will help you create asales pipeline where initial nurturing of the leads will be already done and they will be on the lateral stages. Your 70% work will be taken care by the Bulk Rebook and you will be on the Proposal/Quote generation stage(as you can see in the below image) from where you will generate the Proposal and send it over to the prospect.
Below are few advantages of having Bulk Rebook in your CRM;
It will ease your work of building a strong sales pipeline as it will create a sales pipeline with all the potential buyers with their exact needs.
It will reduce the number of clicks in closing the deal as all the important information related to prospect will be captured by the Bulk Rebook.
It will save your time and efforts to nurture the Leads as it will already be nurtured and hence it will save your money.
It will even bring in all the information associated with the prospects like the past requirements, new requirements, glimpse of their budget etc.
With all the important information present, the Sales Rep will be able to pitch the right product/services.
It will enable bettersales and revenue
Sales Reps will be able to create better quotes within no time.
Negotiation time will be reduced significantly.
It will provide us early insights of salesin the next subscription period.
Proposal generation time can be reduced and hence will result in reducing the time to convert the prospects to customers.
Bulk Rebook can be customized; companies can bring in the information associated with the prospects of their choice for quick and effective decision making.
The importance of having Bulk Rebook is evident from the fact that it leads to significant improvements in the levels of sales closures, sales administration time, and sales cycle timing. All these and many more advantages of having Bulk Rebook in your CRM software undoubtedly help you stay at the top of your league.
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