Table of Contents:
What is the ROI?
The Return on Investment or return on capital employed is the overall profit made on the investment made by a business, expressed in percentage of the amount invested.
ROI can be calculated by these two formulas:
- Net Profit/ Cost of Investment= ROI
- Investment Gain/ Investment Base= ROI
Return on Investment deals with the money that the owner invests in a business and the return they receive on that money based on the net profit of the business. It is not necessarily the same as profit. While profit measures the performance of the business, the ROI focuses the profit on the amount invested in the business. ROI is used in areas of finance, business, marketing, user experience, etc. The goal of ROI is to get the maximum profits out of the minimal investments made.
ROI doesn’t have to necessarily measure financial investments only; it may include investment made on the basis of time, creative costs, printing costs, technical costs too. It is important to calculate ROI in a business in order to understand what sort of techniques or strategies are working for the business and which strategies need to be altered.
ROI helps businesses justify marketing investments, by implementing a clear picture of the return on the investment. Companies often slash their marketing budgets and ROI can help in understanding the importance of a few aspects of the business and the need for elimination of others.
How does the CRM system work?
Customer Relationship Management or CRM system is a critical tool that enables interactions to be planned and managed that help enables a business to implement effective social marketing strategies and to maintain business relationships. Salesforce CRM allows one to store customer and prospective customers’ information, accounts, leads, and sales opportunities in the Salesforce Cloud.
A CRM system enables the users to share information with various groups within their own organization who are in contact with the same customer. This way, the users can easily manage several connections within the business by keeping the track record saved in their cloud.
CRM gives businesses, and their various departments of sales, customer service, marketing, and business development, a better way to manage customer relationships and interactions that may lead to their success. Users can put their data on the cloud with the help of the CRM system and can access it from anywhere through any device. It can also serve useful information to the service teams in managing customer requests coming in from different channels that they can address at the same time through the cloud.
Not only does the CRM work on prioritizing sales and marketing efforts based on the data of different customer groups, but it also gives companies a better way of understanding the customer needs and wants in order to improve the way the product is offered to them. Knowing the customers and understanding their preferences always proves to be a useful aspect of a business.
One of the positive aspects of CRM includes its cost, which is negligible for companies to get to manage and maintain their whole business through a single cloud. When implemented successfully, CRM can be a very useful tool in building customer relationships, increasing revenues and creating a superior customer experience.
Some of the benefits of Salesforce CRM as implied earlier can be listed as:
- More insights into the data, and smarter service
- Automation of the business processes leading to increased productivity
- Faster problem solving and improved team collaboration
- Ability to predict user needs and effective campaigning
- Improved customer experience
The job of a Salesforce Consultant
A Salesforce Consultant plays a very important role in the CRM of a company. They act as a prime resource for the company and are known to be the most valuable employees of the company. The job of a consultant is to understand the issues a client is facing and offer relevant solutions to them. These solutions once approved, are documented and forwarded to the developer’s department where the solution is worked upon. Salesforce consultants are expected to have good communication skills, presentation skills, and problem-solving skills. They implement and configure Salesforce products to increase sales productivity.
Roles and responsibilities of a Salesforce Consultant:
- To add value to Organizational Goals
- To increase the ROI of the organization
- To have knowledge of the latest releases and updates regarding Salesforce
- To be an expert in technical matters
- To be familiar with the workings of a business
- To manage the company-client relationship
- To create and manage projects
- To design and build business technology solutions
- To mentor and guide other teams and departments with the project
- To design and develop custom solutions on the Force.com platform
Implementation of Salesforce
One of the frequently raised questions regarding Salesforce is whether one can implement it without help, and if not, why is it recommended to get an expert for the job despite the fact that Salesforce is known for its easy and quick first-time setup and configuration. Salesforce professionals use industry practices to implement, customize or test the Salesforce for the users. While it is not very difficult to set up Salesforce, the users are unaware of the various features of Salesforce or how they are used. A Salesforce developer can help the users customize their Salesforce cloud and make it unique and more convenient to use. A Salesforce Consultant is experienced and has the appropriate knowledge that would be useful for the users in getting immediate growth in their developmental process through their deep understanding of the business and the sales process. Salesforce solutions need ongoing support and it is not really possible for a layman to be updated with the latest changes and updates in Salesforce, but a Salesforce professional’s job is to be updated with Salesforce trends and features which makes it easier for them to make better changes in the organization’s Salesforce than a layman.
A Salesforce Consultant has the knowledge and skill to understand the workings of the business of the customer and can design a Salesforce data modeling based on the needs of the customers.
While it is easy to configure and setup Salesforce CRM without professional help, assistance from the Salesforce Consultant proves to be more advantageous and profitable.
How a Salesforce Consultant can increase the ROI
Salesforce Consultants work towards solving problems related to business and technological processes. They can implement new business systems with ease and ensure that the customers can reap maximum benefits out of Salesforce. The team of Salesforce experts constantly works and collaborates with clients to assess their existing business practices and recommend the best implementation strategies that meet their core organizational goals.
Some of the ways a Salesforce Consultant can increase business ROI include:
- Easy execution
A Salesforce Consultant helps in CRM implementation which in turn useful when one can have streamlined workflow, improved communications, increased productivity, reduced operational expenses, enhanced network security, and better customer experience.
- Quick Setup
A Salesforce Consultant is familiar with the workings of Salesforce and therefore needs time to understand the setup or its features. The users can thus save themselves the effort of trying to understand the features and the settings to make their CRM more unique. A consultant knows the way through Salesforce and can easily modify the settings and make changes according to customer needs.
- Proper implementation
It can be difficult for a layman to implement the right kind of industry or business solutions according to their business. The job of a consultant is to make sure that the implementation and customization of Salesforce CRM are done in accordance with the customer’s business based on their previous data.
- Saves time and money
Consultants can help businesses find the best-suited features for their business at affordable rates. They are professionally trained to handle the customer issues by finding out solutions that can be delivered once the Salesforce development team approves of the solution and works on it. This ensures on-time and accurate solutions for the business.
- Professional Services
Salesforce Consultants work towards creating a better social environment for the businesses by looking at the problems with a professional objective focused on implementing the most appropriate strategies for the expansion of the business. With the right kind of marketing services and improved customer relationships, businesses can grow at a higher rate. The consultants not only work towards better market strategies or solve the issues of the company but also work on improving the brand image and add value to the business.
- Accessible Service team
Salesforce provides a wonderful service team that constantly provides support services and guidance for the customers. The organizations can conveniently contact the service teams whenever they face issues regarding Salesforce and any of its features.
- User Adoption
Salesforce Consultants help in increasing user adoption leading to improved business performance. An easy user adoption rate is an important tool for ROI. The professional outlook of a consultant, proper implementation, and a thorough understanding of the Salesforce platform can be useful in increasing productivity.
With the help of an experienced and professional Salesforce Consultant, businesses can strive in the market with the latest technology and proper planning. Hiring a consultant will help in saving time and money and also promise a great quality of work which is not possible without professional help. Improved customer relations and an upgraded system of Salesforce can ensure an increase in ROI for business.