Tag Archives: salesforce

Inside Dreamforce ’13: Why sales may be building 360-degree customer views outside Salesforce

I had a disturbing conversation at Dreamforce. Long story short, thousands of highly skilled and highly paid financial advisors (read sales reps) at a large financial services company are spending most of their day pulling together information about their clients in a spreadsheet, leaving only a few hours to engage with clients and generate revenue.

Not all valuable customer information is in Salesforce

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Are you in sales? Your time is too valuable to squander on jobs technology can do. Stop building 360-degree customer views in spreadsheets. Get it delivered in Salesforce.

Why? They don’t have a 360-degree customer view within Salesforce.

Why not? Not all client information that’s valuable to the financial advisors is in Salesforce.  Important client information is in other applications too, such as:

  • Marketing automation application
  • Customer support application
  • Account management applications
  • Finance applications
  • Business intelligence applications

Are you in sales? Do you work for a company that has multiple products or lines of business? Then you can probably relate. In my 15 years of experience working with sales, I’ve found this to be a harsh reality. You have to manually pull together customer information, which is a time-consuming process that doesn’t boost job satisfaction.

Stop building 360-degree customer views in spreadsheets 

So what can you do about it? Stop building 360-degree customer views in spreadsheets. There is a better way and your sales operations leader can help.

One of my favorite customer success stories is about one of the world’s leading wealth management companies, with 16,000 financial advisors globally.  Like most companies, their goal is to increase revenue by understanding their customers’ needs and making relevant cross-sell and up-sell offers.

But, the financial advisors needed an up-to-date view of the “total customer relationship” with the bank before they talked to their high net-worth clients. They wanted to appear knowledgeable and offer a product the client might actually want.

Can you guess what was holding them back? The bank operated in an account-centric world. Each line of business had its own account management application. To get a 360-degree customer view, the financial advisors spent 70% of their time pulling important client information from different applications into spreadsheets. Sound familiar?

Once the head of sales realized this, he decided to invest in information management technology that provides clean, consistent and connected customer information and delivers a 360-degree customer view within Salesforce.

The result? They’ve had a $50 million dollar impact annually and a 30% increase in productivity. In fact, word spread to other banks and the 360-degree customer view in Salesforce became an incentive to attract top talent in the industry.

Ask sales operations to give you 360-degree customer views within Salesforce

I urge you to take action. In particular, talk to your sales operations leader if he or she is at all interested in improving performance and productivity, acquiring and retaining top sales talent, and cutting costs.

Want to see how you can get 360-degree customer views in Salesforce? Check out this demo: Enrich Customer Data in Your CRM Application with MDM. Then schedule a meeting with your sales operations leader.

Have a similar experience to share? Please share it in the comments below.

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Posted in Customer Acquisition & Retention, Customers, Data Integration, Data Quality, Financial Services, Master Data Management, Operational Efficiency, Uncategorized | Tagged , , , , | Leave a comment

With MDM Day, We’ve Tripled Expectations!

Last week I talked about Informatica World 2013, and how MDM is poised to be a major attraction. Now I know I was right, because the registrations are pouring in. Take MDM Day, the pre-conference event exclusively for our Master Data Management (MDM) customers and partners: So far, we’ve exceeded our attendance expectations threefold – to almost 350 people! This is exciting for us, but it’s also a clear sign of just how important MDM is in today’s IT infrastructure.

Here’s a bit about what we have planned for MDM Day:

In the morning, three Informatica MDM customers will present: Thomson Reuters, Lawson Products, and Allergan. Thomson Reuters will discuss how the company got its CxOs on-board with MDM, Lawson Products will recount a complete transformation in product data management, and Allergan will share insights on delivering repeated business value with MDM.

After each customer presentation, we’ll host an in-depth panel discussion led by both the customer and systems integration partners, which will be open to participation from the audience. These sessions will be highly interactive, allowing attendees to learn firsthand what worked and what didn’t, from some of Informatica’s most successful MDM customers.

In the afternoon sessions, attendees will be able to learn directly from Informatica MDM product management and development teams. We’ll demo the latest capabilities of MDM 9.5.1 and 9.6, including Salesforce MDM, and unveil some exciting new MDM advancements that are currently under development. Informatica MDM experts will discuss important architectural considerations in implementing Universal MDM, including Heiler PIM integration, and introduce ways to derive the most value from Universal MDM implementations.

We’ll cap off the day with roundtable discussions, providing customers with many opportunities to discuss their projects with Informatica development, product management, professional services, and support. Customers will be able to ask questions about new releases, features, and the MDM product roadmap, and they’ll have an opportunity to provide input for future versions. We’ll also offer a roundtable dedicated to discussing partner needs and ways to better support customer success.

I’ll look forward to seeing you at MDM Day!

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Posted in Master Data Management, Product Information Management | Tagged , , , , , , | 1 Comment

Archiving Salesforce Data

I’ve been approached by a number of customers who are looking to archive data from their Salesforce application.  There are two primary drivers I have heard cited:

  • The need to manage the retention of Salesforce data and easily find and access it for legal eDiscovory
  • Storage cost reduction for data that’s no longer active

(more…)

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Posted in Application ILM, Cloud Computing, Data Archiving | Tagged , , , , , | Leave a comment

How Can A Single View of Your Customer Helps You Better Manage your Customer Service? (Part One)

One thing we all have in common in this modern world, is that we have all, at some point in our lives, been on the receiving end of poor customer service.

Don’t get me wrong, a career in customer service is not an easy one, and I’m sure there are many service providers out there who have been wrongly on the receiving end of an angry customer, for reasons out of the businesses hands, that’s another topic in itself. It is hard, however, to ignore that one thing companies often fail on heavily is providing a timely, easy to access and appropriate level of service for their customers. (more…)

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Posted in Cloud Computing, Master Data Management | Tagged , , , , , , , | Leave a comment

Why Your SaaS Applications Also Need Archiving

Just like your on-premise database applications like E-Business Suite, PeopleSoft, Siebel and custom applications, SaaS applications such as Salesforce, Oracle CRM On Demand, Microsoft Dynamics, NetSuite, Eloqua and others will experience large data growth causing performance issues and increasing costs.

As data grows in your SaaS applications, the performance of accessing transactions and reporting will degrade.  Your SaaS vendors will also require more time, effort, and cost to maintain and manage this data. Backups, upgrades and replication of these environments will take longer and application availability will be impacted due to longer maintenance windows. Your SaaS application vendors will require more storage to house the additional data and this cost will be passed on to you. (more…)

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Posted in Application ILM, Data Archiving, SaaS | Tagged , , , , | Leave a comment

A Case for Universal MDM: The Federation of Point-MDM Solutions

I’m at Barcelona this week for the European Gartner MDM Summit. I had a chance to catch up with one of the Gartner MDM analysts before the event, and we had a discussion about the growth of MDM.  He mentioned that MDM will become pervasive within the enterprise as organizations expand its use as a necessary foundation for governing all of their business-critical master data such as customers, products, and so on.

To solve their business problems accurately, companies seek targeted MDM solutions. For e.g., retail, distribution, and manufacturing companies use PIM for merchandising, distributing products, and supplier on-boarding, while financial services, healthcare, and high tech companies use customer MDM with their CRM, such as salesforce.com, for improving customer segmentation, cross-sell , and up-sell. (more…)

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Posted in Master Data Management | Tagged , , , , , | Leave a comment

How Migrating Customer Data from Legacy CRM to Salesforce is Like Moving to a New Home

After returning from Dreamforce, I learned that two of my friends were moving to new homes. They used different approaches to moving their belongings and had vastly different experiences once they moved in. This made me think of the different approaches companies use when migrating customer data from a legacy CRM system to Salesforce and the impact these approaches have on their user experience when they go live.

One friend, let’s call her “Jane” is not the most organized person. Her goal was to get her family’s belongings into the new house as quickly as possible. Room by room, they packed all of their belongings into boxes and shipped them to their new home.

(more…)

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Posted in Cloud Computing, Customer Acquisition & Retention, Master Data Management | Tagged , , , , , , , , , , , , , , , , , | Leave a comment

Interstate Batteries Dreamforce Story: How Can You Be #1 Without Trusted Customer Information?

Last week I posted this blog, OppenheimerFunds Dreamforce Story: Lay a Foundation of Trusted and Complete Customer Information for Salesforce.

Another superb Dreamforce story was delivered by Interstate Batteries’ director of Market IQ, Mike Darr.

Did you know Interstate Batteries is the number one replacement brand battery in North America? Did you know batteries were perishable? These were some facts that I learned during Mike’s presentation at Dreamforce 2012. (more…)

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Posted in Manufacturing, Master Data Management | Tagged , , , , , | 1 Comment

Video: Power the Social Enterprise with a Complete Customer View

With the explosive growth of data in cloud computing and CRM systems, organizations of all sizes must have a strategy to achieve a 360-degree customer view in order to stay a step ahead of the competition. Informatica Cloud MDM increases the value of your salesforce.com investment with better lead conversion, customer targeting and cross-sell outcomes.

Informatica Cloud MDM is available as a native Force.com solution, which is fully integrated with salesforce.com and deployed in the cloud.

More information: www.informaticacloud.com/mdm

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Posted in Cloud Computing, Master Data Management | Tagged , , , , , , | Leave a comment

OppenheimerFunds Dreamforce Story: Lay a Foundation of Trusted and Complete Customer Information for Salesforce

Imagine you are rolling Salesforce out to more than 500 users today. What will be their first impression? Will they be annoyed when they encounter duplicate customer records during their first experience? Will they complain when they need to access other systems to get all the relevant customer information they need to do their job? How will that impact your goals for Salesforce adoption? (more…)

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Posted in Cloud Computing, Customer Acquisition & Retention, Financial Services, Master Data Management | Tagged , , , , , , , , , , , , | 1 Comment