Get Started with CRM Analytics for Financial Services Cloud

Learning Objectives

After completing this unit, you’ll be able to:

• Explain the importance of business-intelligence tools.
  
• Describe CRM Analytics for Financial Services Cloud (FSC) and its benefits.
  
• Sign up for a Developer Edition org.
  

Tableau CRM is now known as CRM Analytics. The new name reflects our mission and vision for innovation on the native Salesforce platform. CRM Analytics continues to deliver an intelligent experience that’s built on the world’s #1 CRM, whether you’re new to the platform or a pro. Expect to see the previous name in a few places until we replace it.

For a while now, Cumulus Wealth has been the leading provider of wealth management services, and Ryan Dobson is the superstar financial advisor.

Ryan is an expert in strategizing plans to help his high-net-worth clients reach their financial goals while growing his book of business.

Wealth Mismanagement

However, the mood today in the conference room at Cumulus Wealth is grim. Ryan and his manager are reviewing the first quarter revenue, and it’s not looking great. Profits have dipped, new business has dried up, and customer escalations have increased. Basically, all the lines on the graphs are red and dipping down. Oh no!

Cumulus has lost its lead. New wealth management firms and digital platforms in the market are promising better service and lower commissions. With so many new options to grow and manage wealth, Cumulus is slowly losing its loyal customer base. 

To regain its competitive advantage, Cumulus is looking for a solution to meet several goals.

• Improve relationships with existing clients so they continue to trust Cumulus with their wealth.
  
• Drive growth and increase revenue.
  
• Improve operational efficiency.
  
• Reduce client churn.
  

Ryan has looked everywhere, but the answer to the problem is closer than he thought. Cumulus has been sitting on a gold mine of client-related data, but it’s missing a robust business-intelligence tool that can turn this data into actionable insights. 

 While this module focuses on wealth management, CRM Analytics works equally well with other FSC subverticals like insurance, mortgage, and retail banking.

Data-Driven Insights with CRM Analytics for FSC

Matt O’Brien is the trusty Salesforce admin at Cumulus. 

Ryan reaches out to Matt for help. Luckily, Matt has the perfect solution in mind. He tells Ryan about CRM Analytics for FSC.

CRM Analytics for FSC is a complete customer intelligence platform that gives financial institutions intelligent insights across client goals, leads, and sales. Developed specifically for the finance industry, CRM Analytics for FSC comes with pre-built KPIs (key performance indicators) across many metrics, dashboards, and datasets. And because it’s native to Salesforce, CRM Analytics for FSC inherits the same trusted, secure, and compliant cloud infrastructure. Connect to external data, and even build custom apps with just clicks. No coding experience required here. 

With the power of artificial intelligence (AI), CRM Analytics automatically discovers relevant client insights, predicts future outcomes, proactively recommends the best next steps, and even automates advisor tasks. 

CRM Analytics for FSC is the best business-intelligence platform in the market because it helps you:

• Deepen your client relationships: Use advanced, curated dashboards to help clients meet goals faster, match products with goals, increase client engagement, and minimize client attrition. Indicators like health score, account types, and portfolio assets give you an understanding of your clients’ needs.
  
• Grow your book of business: Convert leads faster with out-of-the-box dashboards for lead sources, tracking, conversion, and pipeline trending.
  
• Increase your client wallet share: Use AI-powered insights to increase returns for existing clients. The pre-built model for Asset Under Management (AUM) identifies clients who are most likely to make large deposits and increase their assets.
  
• Drive advisor performance: Employ rich analytics to quickly review and evaluate the performance of your financial advisors—individual and regional. Leadership and management can see who the best and worst performers are and the factors affecting performance.
  

What’s Next

Hearing so many good things from Matt, Ryan is convinced that CRM Analytics for FSC is the solution that's going to propel Cumulus from its financial slump. He asks Matt to get started right away. Follow along as Matt gets the org ready for the solution in the next unit. Let's go!

Want to Explore CRM Analytics in Financial Services Cloud?

In this module, we show you the steps to set up CRM Analytics in Financial Services Cloud. We don’t have any hands-on challenges in this module, but if you want to practice and try out the steps, you need a special Developer Edition org that contains CRM Analytics and our sample data. A regular Trailhead Playground doesn’t have CRM Analytics or our sample data. Here’s how to get the free Developer Edition now.

1. Sign up for a free Financial Services Cloud Developer Edition org.
   
2. Fill out the form. For Email, enter an active email address. For Username, enter a username that looks like an email address and is unique, but it doesn’t need to be a valid email account (for example, yourname@test.com).
   
3. After you fill out the form, click Sign me up. A confirmation message appears.
   
4. When you receive the activation email (which can take a few minutes), open it and click Verify Account.
   
5. Complete your registration by setting your password and challenge question.
   
6. You’re logged in to your Developer Edition.
   

Write down your username, password, and login URL for easy access later.

Resources

• Trailhead: CRM Analytics Administration Basics
• Developer Guide: Deploy CRM Analytics for Financial Services