Many Sales Leaders today rely on outdated systems and incomplete spreadsheets to project sales. Victims of inaccurate forecasts and underperforming businesses, they suffer lost deals leading to revenue shortfalls and missed quotes for sales teams. In the hullaballoo, Salesforce comes to the rescue through Sales Cloud Einstein Forecasting.
Salesforce Einstein Forecasting is an exceptionally good and fully automated solution which uses company’s historical CRM data. It takes the guessing work out from forecasting. Einstein Forecasting is blended of self-learning algorithms. It learns individual and team forecasting behavior and analyses the behavior. Based on this analyzation, it synthesizes and offers analysis for sales leaders. Salesforce Einstein Forecasting helps in analyzing, processing and understanding the essential factors, historical performance and seasonality, therefore helping in making very customized and highly accurate sales forecasts.
Don't forget to check out: Salesforce Einstein: Artificial Intelligence for Customer Success
A- What Exactly Is Einstein Forecasting?
Salesforce Einstein Forecasting uses the special logic of translating the data behind each forecast into human language. This helps sales leaders to know what to expect from the pipeline and why. The insurance company manager can easily view a dashboard and keep a check on the team, using Einstein Forecasting. Managers can easily track to hit the sales numbers and keep a check on this. Through the anticipation from Einstein Forecasting, the manager and sales leads can easily take action before it gets too late and get the quarter back on track.
Furthermore, finance officer of the company can get a good idea if they are looking for expansion in any new region. Einstein Forecasting can easily help in predicting whether company has enough funds in that month to take up a new project. The best part of predictive forecasting is that it helps you in dealing the risk. By precisely analyzing millions of data points of company opportunity history, it helps in creating predictions how much deals are on verge of closing. These prediction help sales leads and managers in knowing where their sales reps and teams can focus. Along with predictive, it is proactive also. As soon as Einstein notices the irregularity or some risk, the manager gets notified.
B- Key Highlights
- Einstein Lead Scoring: Using lead scoring, representatives can prioritize their leads and can decide which leads needs to be called first and approach first.
- Einstein Opportunity Insights: Opportunity insights help reps in focussing their valuable time on the deals which need most of their attention.
- Einstein Account Insights: This displays which accounts are ripe for contact.
- Einstein Automated Contacts: With new contact and contact role records it improves CRM data.
- Einstein Activity Capture: Einstein Activity Capture helps in automatically mapping calendar data and email to the right records. This is done with no involvement of representatives, as there is no requirement of clicking, searching or matching.
1- Einstein Email Insights
Representatives get numerous emails which require attention. Einstein Email Insights help representatives know which emails need attention first. Email insights also offer suggestions which actions are required to be taken next to this step.
Natural language processing Salesforce Einstein helps in knowing that the emails are quiet significant and a lot important is happening in those emails. It helps in getting noticed the deals which are high and definitely needs some negotiation. Or may be some of the emails requires scheduling of follow-up meeting. Einstein Email Insights give sales representatives their own personal email assistant. It helps representatives in identifying the most relevant emails, recommends best action or response and allows sales leaders to prioritize their inbox and quickly address customer needs.
By implementing Email Insights, Sales Representatives can take proactive actions and keep deals moving from scheduling a meeting to sending a quote. This can help sales representatives like managing their important emails. If he/she is returning from the tight schedule of day-long meetings with customers, they no longer have to dive deep and long into their inbox to find the relevant ones.
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Check out another amazing blog by Algoworks here: The Journey Towards Predictive Lead Scoring With Salesforce Einstein
2- Einstein Opportunity Scoring
Einstein Opportunity Scoring helps in identifying, bringing out and prioritizing the valuable deals. It monitors deals in progress and identifies high-value deals which need attention. This keeps sales representatives focused on building the pipeline and closing more and more deals. With Einstein Opportunity Scoring sales representatives do not have to spend a lot of extra hours in examining through opportunities, instead, sales reps can easily focus on deals and can close or add resources the deals which may be a risk. Opportunity Scoring helps representatives to sanctify deals on which they are working. It helps in strategizing which deals require reps’ attention and need complete focus and which ones are about to close and not much time and effort are required on them.
Salesforce Einstein Forecasting, Einstein Email Insights and Einstein Opportunity Scoring are expected to be generally available in first half of 2018, states Salesforce. And with this release, the pricing will be announced too.