Last Updated on May 12, 2023 by Rakesh Gupta
Our latest article discussed why revenue leakage is a data-related problem and how admins play a crucial role in tackling it with their technical know-how and problem-solving experience.
Without complete and up-to-date Salesforce data, you can’t see the big picture of your pipeline, so you miss out on opportunities and don’t achieve revenue. Therefore, overcoming technical challenges to ensure complete data is the first step to combating revenue leakage.
This article looks at companies from several industries that are at risk of revenue leaks because of activity capture issues. It also explains why these problems happen and what Salesforce admins do to fix them.
Read can read more about revenue leakage here.
4 real-life challenges and how admins solve them
Revenue leakage refers to the loss of revenue from your business, which often goes unnoticed. Revenue leaks can be prevented, but since they typically go unnoticed, many businesses fail to put in place measures that can prevent them from occurring in the first place. The more leaks that are hidden in your end-to-end revenue generation process, the greater the accumulated impact they’ll have on your revenue in the long run.
Challenge 1: No reportable data in Salesforce
The US-based medical insurance company needed to build reports on critical metrics like customer engagement, sales activity, and communication data.
There was a problem, though: the current activity capture solution didn’t save data to Salesforce Financial Services Cloud. Even worse, migrating to another activity capture solution would mean losing even previously captured data.
Revenue Grid’s activity capture solution saved data straight into Salesforce, so admins were able to solve reporting issues forever. As a result, the company could build the reports they needed using different metrics. Having the data stored in Salesforce also saved them from worrying about losing it.
Challenge 2: Limited customization and configurability
The UK-based financial services company needed customized data synchronization since they had multiple email servers at several locations, as well as custom objects.
However, they were using Salesforce Lightning Sync, which didn’t offer configurable synchronization options. That’s why multiple email accounts and custom objects were not supported.
The fully configurable sync features of Revenue Grid gave admins the flexibility they wanted. Therefore, the data could be synced according to the company’s needs. Multiple email accounts and custom objects were no longer a problem with full control over the data.
Challenge 3: Vulnerability to security threats
This medical company from Denmark needed to store encrypted data on a private cloud server to comply with strict security protocols.
However, Einstein Activity Capture was not answering their needs since it didn’t support private cloud deployment. Besides, the tool was storing data on third-party databases, causing security concerns.
With Revenue Grid’s private cloud deployment, admins got the security they needed. With features like full encryption for all data sent to Salesforce and Microsoft Graph Security API support, customer data security was no longer a concern.
Challenge 4: Calendar sync that doesn’t work
The US-based wealth management and financial services company needed recurring events synchronized automatically between Outlook and Salesforce with bi-directional calendar sync.
The company was using Lightning Scheduler, and its one-way sync was causing conflicts. For example, recurring events synced from the calendar weren’t saved as recurring events in Salesforce. Moreover, they created a series of unrelated events visible only in the Activities list, causing duplicates which was a pain for admins.
Revenue Grid’s two-way calendar sync helped admins seamlessly synchronize Salesforce and Outlook calendars. By syncing all business-related events instantly, they avoided conflicts and duplicates. Revenue Grid also automatically synced recurring events between calendars. As a result, once an event was edited in one calendar, it was automatically updated in all calendars.
Next Step: Revealing the power of data with Revenue Intelligence
With activity capture issues fixed, Salesforce data is complete, including valuable insights into leaks, their causes, and how to fix them. The problem is that uncovering these insights manually is nearly impossible, which is where revenue intelligence comes in.
Analyzing data with AI
Manually going through hundreds or thousands of customer records isn’t feasible with the amount of data captured from different communication channels. Revenue intelligence, however, allows for in-depth analytics using artificial intelligence. As a result, any leak that would be invisible to the human eye can be found easily with the reasons behind it.
Implementing changes with Revenue Signals
When the leaks are detected, the next step should focus on eliminating them, which requires implementing structural changes to the sales process and ensuring teams follow it. Companies can create triggers for their teams using AI-based Revenue Signals to guide them through the next best action to prevent leaks.
Measuring the effectiveness of changes made
Revenue intelligence offers real-time reports and signals to measure the impact of changes. So, companies can see how their pipelines change after fixing the leaks. With granular reporting features, companies can see whether their leak-fixing efforts paid off. If their revenue improves, they will know they fixed the leaks; if not, they’ll have to make more changes in the sales process.
Fixing revenue leaks not only saves you from losing money but also improves your whole revenue generation process through higher conversion rates and increased productivity. To achieve this, first, you need to have complete Salesforce data by solving activity capture challenges. Then you can uncover insights from this data using revenue intelligence.
With Revenue Grid’s advanced revenue intelligence features, you can spot and fix leaks by analyzing captured data with AI, changing the sales process with Revenue Signals, and measuring results with granular reporting. Find out how Revenue Grid can help you stop revenue leaks for good.
Maria Gordienko is Head of Communications at Revenue Grid.
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