SalesforceIQ – The One-Stop Platform to Extend your Sales

Dream. Dare. Do – that is Suyati’s work principle in a nutshell.


Is your enterprise thinking of moving to a better sales platform? Are you eyeing on alternate solutions to boost your sales? Our experts can guide you to the right solutions.

Join our webinar that discusses the features and advantages of SalesforceIQ, a relationship intelligence platform introduced in Dreamforce 2015. The webinar also details how this platform benefits your business and fosters sales.

We will also have a couple of demos which will take you through the landscape of SalesforceIQ .

Agenda

  • 1) Introduction to SalesforceIQ
  • 2) Features of SalesforceIQ
  • 3) Importance of SalesforceIQ in small business
  • 4) SalesforceIQ with Sales cloud
  • 5) Demo:
    •  Walk through on SalesforceIQ
  • 6 )Conclusion

Webinar Transcript

Introduction

This webinar features SalesforceIQ, the relationship intelligence platform introduced by Salesforce in Dreamforce 2015. It was formerly an independent platform known as RelateIQ which was later acquired by Salesforce. SalesforceIQ uses predictive analytics to prioritize opportunities and suggests follow-ups based on your regular customer interactions. With relevant relationship information, SalesforceIQ analyzes and generates Intelligence Fields to learn and improve with each customer communication and to grow with our business.

You can connect SalesforceIQ with your Google or Microsoft Exchange account. It automatically finds new email interactions with the contacts to view and share the information for collaborating with your team. We can also connect SalesforceIQ with Sales Cloud and migrate data from Salesforce to speed up sales using Relationship Intelligence. This makes the world’s #1 sales solution platform even better.

Features of SalesforceIQ

a) Users and Controls

A user is a person who manages different activities in SalesforceIQ. We can invite users to SalesforceIQ by sending an invitation mail. There are two types of users- User and Administrator. Administrator can control permissions of a user based on:

  • List-Level Controls
  • Field level Controls
  • Relationship Level Controls

List Level Controls can restrict importing & exporting grid data and importing data to an existing list.

Field-Level Controls restrict adding new fields, editing field names or options, and deleting fields.

Relationship-Level Controls restrict the following tasks:

  • Adding and editing values within a cell in the Grid
  • Deleting rows (relationships) from the list
  • Editing the name of a relationship on an account-based list
  • Edit associated accounts or contacts
  • Copy rows to another list or convert a row from one list to another and so on.

b) Lists

Lists can be used for tracking the potential customers. These are displayed as tabs in the SalesforceIQ User Interface. It tracks all opportunities along with relevant information. It helps keep track of the Pipeline and quickly update the status of your opportunities as they progress through the pipeline.

c) Automatic Data Capture

SalesforceIQ provides Intelligence Fields that are automatically updated based on data captured from the daily business routine. This includes calls, emails, meetings, and so on. Intelligence fields play a vital role in building strong customer relationships.

d) Shared address book

Contacts can be shared among users in the organization. Users can also have their own personal address book. Contacts can also be imported and exported as csv files to manage in external systems.

e) Enriched Contact Profiles

A contact in SalesforceIQ stores various information related to a Contact like- Name, Company, Title, Email, Phone, Address, Twitter handle and so on.

f) Suggest Follow ups

SalesforceIQ helps to make timely follow ups with clients by displaying the date of the next Follow-up you've scheduled. This can be either the upcoming Follow-Up or the most recent overdue Follow-Up. If you have Follow-Ups scheduled on the same day with multiple points of contact for an Account, this field displays the next immediate Follow-Up.

g) Collaboration

The Stream view provides a number of options that let you easily and quickly collaborate with other members of your team. We can create teams, create, assign, and work with tasks by yourself and with your teammates. This enables us to efficiently manage next steps on a deal.

h) Mobile

SalesforceIQ provides mobile apps for improving efficiency of the sales team. The app provides an aggregate address book of your Google contacts, company address book, and Phone contacts in one place. Mobile apps are available for Android versions 4.4 Kitkat and higher and for iOS versions 8.0 and later.

i) Chrome Extension

Along with mobile apps, SalesforceIQ also provides a Chrome extension that integrates it with our Gmail. With the SalesforceIQ Gmail Chrome extension, you can access up-to-date information on your SalesforceIQ Contacts in your Gmail Inbox, including social media accounts and closest connection information. The Chrome extension supports Chrome version 32 and higher.

j) Read Receipts

Using the previously mentioned SalesforceIQ Chrome extension, we can enable read receipts for the sent messages. With read receipts, the SalesforceIQ user who sends the mail, gets notification pop up in the browser window when the recipient opens it. It will help the SalesforceIQ user to follow up with the recipient immediately.

k) Closest Connections

On a Contact's Profile page, the Closest Connections section shows the people in your organization who have the strongest connection to that Contact.

On an Account Profile page, the “Closest Connections” section shows the Contacts attached to that Account who have the strongest connection to the Organization. This helps to assign the right person to follow up the related contact.

l) API Access

Enabling SalesforceIQ API allows us to connect with other tools to develop critical business workflows. It help us do the integration through Zapier and also with 3rd party custom APIs.

 

SalesforceIQ Reports

1) Activity Reports

SalesforceIQ provides 3 types of activity reports. They are

Activity Leaderboard

It shows the graphical representation of each user’s performance. (Sales rep)

Activity by Status

It shows the amount of activity that takes place within each status (Lead, Qualification, Negotiation, and so on).

Activity Trend

It shows the amount of outbound activity over time.

 

2) Sales Reports

To analyze the sales in an organization, SalesforceIQ provides some sales reports like

Cumulative Sales

It shows the total revenue from close deals and forecasted deals over time.

  • Incremental Sales

It shows the revenue from closed deals and forecasted deals during the selected date range.

  • Sales Leaderboard

It shows a ranked list of collaborators based on revenue and forecasted revenue.

  • Average Deal Size

It shows the average size of the deals that entered this list's last active status.

 

 

3) Pipeline Reports

We have pipeline reports like Pipeline value, Cumulative deals, Incremental Deals, and Average stage duration.

  • Pipeline Value

The Pipeline Value report shows the estimated value of your pipeline based on the values in your revenue field.

  • Cumulative Deals

Cumulative Deals show how many deals were added during the selected date range and their status as of today.

  • Incremental Deals

Incremental Deals show how many new deals that were added during the selected date range and their status as of today.

  • Funnel Analysis

Funnel Analysis shows how deals are moving through your pipeline.

  • Win Rate by Owner

Win Rate by Owner shows the percentage of deals that are won after reaching each status.

  • Average Stage Duration

Average Stage Duration shows how long your deals remained in each status before moving to the next stage of your pipeline.

 

Other features of SalesforceIQ

Forecasting

SalesforceIQ forecasting provides clarity into the future, which helps the businessmen achieve their goals and efficiently allocate the resources to improve the business growth.

Forecasting involves three actions:

i) Customize the probability of close

ii) Customize the expected close date

iii) Run a sales report

Tasks

We can set tasks to represents a business activity such as making a phone call or other to-do items.

Meeting

We can request for meetings with the customers to discuss the business deals.

Importance of SalesforceIQ in small business

SalesforceIQ for Small Business is an out-of-the-box CRM solution that automatically tracks and analyzes the day-to-day interactions that drive professional relationships. It removes the need for manual data entry so that the sales teams can focus on closing deals. It is extremely flexible to fit various workflows including sales, business development, and account management.

SalesforceIQ for Small Business captures the professional touchpoints automatically from our emails and calendar. This gives us enough room for connecting with people. It also helps us gain data-driven insights about individual and team activity and performance from SalesforceIQ’s out-of-the-box reporting suite. SalesforceIQ uses data science tools to help you supercharge your productivity.

SalesforceIQ Pricing and Plans

These are the pricing and plans available for SalesforceIQ.

There are 3 editions - Starter, Growth and Business. The Starter edition supports up to 5 users and 1 list. It provides features like automatic data capture and Intelligent Follow-up reminders. The more popular Growth edition supports unlimited number of lists and users. In addition to that, it provides sales and activity reports for up to 3 direct integrations. The Business plan includes all the features of growth edition and also supports advanced reporting and forecasting along with custom integrations.

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SalesforceIQ with Sales cloud

SalesforceIQ for Sales Cloud is a suite of productivity apps designed to help existing Salesforce users sell smarter. This is available on mobile platforms like iOS, Android, and is also available as a Chrome extension. These apps let you connect to Salesforce with your email account. It offers various productivity enhancing and time saving features like intelligent notifications, a smart meeting scheduling assistant, and email shortcuts. SalesforceIQ for Sales Cloud also aids you in creating and viewing salesforce records from your inbox. We can quickly and easily schedule meetings and also prioritize the inbox with intelligent notifications.

Use case

Let us take the example of a company called LifeCare, a small business that manufactures medical equipment. It has Hospitals, Doctors, Laboratories and individual customers as their clients. Rob is the sales manager of LifeCare who is responsible for various sales processes in the company. Currently Rob does not have a proper system to capture and analyze their sales data. So he is having difficulties in summarizing the current trend and profit/loss in sales. Also, it is very difficult for him to predict the expected revenue for the near future. These limitations leads to a decline in the growth of LifeCare’s business.

So LifeCare needs a solution to increase their business growth by overcoming these drawbacks. They decided to use Salesforce IQ, which is a leading solution for analyzing sales data and thereby boosting business of small organizations. Now let us see how Rob can analyze LifeCare’s sales data and generate reports using SalesforceIQ and thereby advance its sales and increase revenue.

 

To start with SalesforceIQ, Rob can register for a 14 days trial account from salesforceiq.com by logging in with his Google or Microsoft exchange account.

When you log in to the homepage of Salesforce IQ, you can see the different tabs in salesforce IQ. ‘Home’ and ‘Reports’ are the default tabs. Home consists of tasks and meetings.

Tasks and meetings are automatically created by analyzing the email activities that help the salesperson follow up the clients. For example, imagine we have a client called ‘Ann Sarah’ who has not contacted with us for a while. So, a task is created automatically in SalesforceIQ that notifies the salesperson to follow up ‘Ann Sarah’. We can also manually create a task to do the same.  Meeting tab automatically lists the meeting request in the email account.

The lists in Salesforce IQ can be used to track the potential customers in the business. In this scenario, LifeCare has customers from different categories like  ‘Hospitals’, ‘Doctors’, ‘Laboratories’, and ‘Individual Customers’. Rob has created list for each of these categories. The lists are the sources of all the reports in SalesforceIQ. ‘Hospitals’ and ‘Laboratories’ store the account based details and ‘Doctors’ and ‘Individual Customers’ store contact based details.

We can add fields in each list. SalesforceIQ mainly provides 3 types of fields, ‘Standard’, ‘Intelligence’ and ‘Other List’. ‘Standard’ fields are fields that you can edit yourself (Example: Text, Number, and Pick List). ‘Intelligence’ fields are automatically populated fields (Example: Inactive Days, Next Event).

‘Reports’ tab contains reports of Activity, Pipeline and Sales reports. The ‘Activity’ reports are generated based on the various activities like ‘Emails’, ‘Calls’, ‘Meetings’ and ‘Follow-Ups’. ‘Pipeline’ reports are generated based on the business in pipeline. ‘Sales’ reports are generated based on the ‘Deal Won’ businesses.

Let’s see few reports in each category.

Win rate by owner displays the performance of each sales person in the organization. So, by simply analyzing this report, Rob can identify the best salesperson in the LifeCare Company.

Incremental deals shows the current number of leads categorized by their status at a specific time period. Here he can see a total of 10 leads with the statuses- lead, qualified, negotiation, verbal commitment, deal won, re-visit later and deal lost.

Cumulative Sales Report helps you identify the total revenue within a specific time period. Here, Rob can analyze the revenue earned by LifeCare during this quarter. He can also filter the result by month, quarter, day and several other criteria.

Incremental Sales

Shows current and forecasted revenue based on the status, ‘Deal Won’ and ‘Qualified’. Here the current revenue is $XXX and forecasted revenue is $XXX.

Chrome Extension

SalesforceIQ provides a chrome extension to integrate with our email account. Rob’s day to day email activities like client follow ups, meetings and emails can be linked with SalesforceIQ using this chrome extension. Rob can create, update records from the email which automatically updates the data in SalesforceIQ.

Suppose Rob wins a client with the revenue of 100 dollars, he can change the status field to ‘Deal Won’ and update the revenue fields with the specified amount.

This can be done from the right sidebar of the email itself. Then, this data gets automatically updated in the SalesforceIQ. SalesforceIQ takes care of the rest. All the available fields are automatically populated and we can make modifications if needed.

There are some other features provided by SalesforceIQ while sending an email. For example, Rob can use the features like

  • Read Receipt’ to know whether the recipient opens the mail
  • ’Create task’ to follow up the client
  • ‘Schedule later’ to send the mail at a specified time
  • ‘Insert Availability’ to specify Rob’s available time with the client

We can use a set of predefined messages that can be used in the email to quickly send it.

Conclusion

By analyzing all these reports, Rob will get a clear idea of various activities happened in their business. SalesforceIQ enables the salesperson to follow up with the customers frequently and deliver excellent customer service. SalesforceIQ prevents the chances of missing a valuable client by helping the salesperson to perform timely follow ups, without allocating additional resources. All these features of SalesforceIQ can boost the sales and thereby increase the revenue of the business.

Speakers

Dimna Sunny

Software Engineer

Dimna Sunny is currently working as a Software Engineer at Suyati Technologies. She is a Certified Salesforce Developer with tremendous experience in the configuration and customization of Salesforce suite of products. Her other areas of expertise include Apex Programming, Visualforce, JavaScript, jQuery, CSS, and AJAX. She loves to spend her leisure time in cooking.

Dennis J S

Dennis is a software developer at Suyati Technologies. He is a Salesforce.com Certified Force.com Developer who at present works primarily on Visualforce pages. Some of his skills include Apex Programming, JavaScript, JQuery, CSS AJAX etc.