Revenue Optimization with Salesforce - A Complete Overview
Some areas of the world are slowly returning to normal conditions. However, many supply chains are still disrupted. This, in addition to rapidly changing market conditions, makes it difficult for leaders to maintain revenue growth. In that case, the mighty organization that is Salesforce CRM comes to the rescue.
This blog will go through everything you need to know about Revenue Optimization.
Salesforce New Features
The sales process is becoming more complex, and salespeople are feeling more pressure to deliver results. Chief Revenue Officers (CROs) are under pressure to find new revenue sources and adapt to changing buyer expectations. This role is complex because revenue data is spread out across the company, from deal spreadsheets to customer conversations. It takes a lot of time and effort to gather all the relevant data and turn it into valuable, actionable insights.
Here, Apphienz, your trusted provider of Salesforce managed services, shares more about this topic:
Revenue for Intelligence for Sales Cloud 360
The role of a CRO is not easy, but there is reason to be optimistic. CEOs expect the global economy to see growth in the next year or so, and they see an opportunity to create new revenue streams in the digital sales era.
Salesforce has announced that it will introduce new features to its Sales Cloud 360 product that will help CROs predict revenue growth more accurately. This will give them a new level of predictability when forecasting and planning for future growth.
The new Sales Cloud features will allow CROs and revenue operations teams to access customer, deal, and pipeline data to help them predict revenue and identify trends. These tools will be available within Sales Cloud, so teams can quickly change their sales processes for a digital-first world.
Predictable Revenue Through Pipeline Inspection
Pipeline management is the primary line of defense against lost revenue and is the base for increased sales. Leaders now have actionable pipeline insights in a simple, consolidated view. This includes top KPIs, week-over-week changes, and more signals for deal health. They can focus their efforts on the deals that matter most, determine real-time coaching moments to improve rep development, and offer support on deals that require a course correction.
Improved Accuracy of Forecasting
Whereas pipeline is more focused on quotas, forecasting is the one way to predict future revenue based on both past data and current trends. Now, teams can base their forecasts on customized fields to help ensure forecasts accurately show unique business models. For instance, a web service company can help maintain predictions based on either monthly recurring revenue or annual contract value, as well as total revenue.
Customer Signals Using Actionable Insights
AI-powered Einstein Conversation Insights can help CROs to identify essential signals that could impact revenue, such as how quickly competitors are mentioned in conversations or when challenges arise in pricing discussions. With this information, CROs can adapt their strategies across sales and marketing to improve their chances of success.
Revenue Growth in a Digital World with Salesforce
To make decisions about selling tomorrow, revenue operations teams need a comprehensive view of how revenue is generated today. With Sales Cloud giving all insights in one place, revenue operations teams can take action and cooperate across siloed departments - sales, marketing, events, finance, and enablement - to propel growth for their business in a market that is rapidly changing.
Conclusion
Salesforce provides a powerful and flexible tool for optimizing revenue. By automating key processes and providing insights into customer behavior, Salesforce can help organizations increase sales and improve customer retention.
Additionally, Salesforce's features can help organizations identify upsell and cross-sell opportunities and optimize pricing strategies. With these new features, it’s certainly time to get Salesforce-managed services.
Apphienz is a Salesforce consulting partner that can provide you with reliable Salesforce-managed service and support. Get in touch with us to know more about our services!