Do You Know What the Return on Your Salesforce Investment Is? (Part 1 of 2)

Everyone’s accountable to someone. For bankers, it’s either your leadership or your board. And anyone in charge is going to want to know:  

What are we getting for [insert investment here]?  

That concerned interest gets even more concerned the bigger the spend. And, as powerful and indispensable as Salesforce is, it’s expensive. So let’s make sure your bosses know what they’re getting in terms of ROI. 

Tangible Returns 

Let’s look at the quantitative benefits of using software products like Salesforce Marketing Cloud, Financial Services Cloud, and more, from increased revenue and reduced costs to improved efficiency. 

1. Increased Revenue Through Personalization: Salesforce Marketing Cloud allows financial institutions to deliver highly personalized marketing campaigns. By leveraging customer data, you can create tailored offers, recommendations, and messages that resonate with each individual recipient based on their interests. This level of personalization boosts conversion rates and customer engagement, directly contributing to revenues. Personalization is the key to customer loyalty; it deepens relationships, creates advocates, and therefore increases revenue.

   
   

2. Efficiency Gains: Automation is one of Salesforce's key strengths. By automating repetitive tasks such as lead tracking, email marketing, and follow-ups, you free up time for your team to focus on high-value activities. Think building relationships with customers. Additionally, Salesforce's seamless integration across platforms allows for better data sharing and decision-making, helping reduce operational bottlenecks. 

   
   

3. Improved Customer Retention and Lifetime Value: With the 360-degree view of the customer that Salesforce provides, you can identify opportunities for cross-selling and up-selling, improving customer retention rates and driving short-term revenue. When customers feel understood and valued, their loyalty increases, leading to long-term profitability. Customers have limited time and mental bandwidth; they expect emotional resonance and seamless omnichannel experiences.

   
   

4. Reduction in Marketing Costs: Targeted marketing means less wasted spend. With Salesforce, you can focus your budget on campaigns and channels that yield the highest returns, minimizing the money spent on less effective tactics. Marketing Cloud’s analytics capabilities let you track the performance of every campaign, ensuring that each dollar is well spent. 

   
   

Intangible Returns 

While tangible returns are critical, some of the most valuable benefits of Salesforce are harder to quantify. But qualitative returns can significantly impact your institution's success over the long term. 

1. Enhanced Customer Experience: Salesforce allows banks and credit unions to deliver more personalized interactions that feel seamless from the users’ perspective. From onboarding to account management, Salesforce helps create a cohesive experience that can build trust and satisfaction. When customers and members feel cared for, they’re more likely to stay loyal, advocate for your brand, and recommend you to others. 

   
   

2. Agility and Adaptability: Salesforce’s cloud-based system provides the flexibility to respond to market changes, regulatory shifts, and customer demands. Whether it’s pivoting marketing strategies or launching new products, Salesforce empowers your team to act swiftly – a competitive edge.

   
   

3. Improved Collaboration: Salesforce is designed to break down silos because it’s essentially a centralized hub where everyone has access to the same customer data. This shared knowledge source improves alignment between end-user–facing teams, leading to better decision-making and unified outreach and retention strategies.

   
   

4. Data-Driven Decision Making: Salesforce’s robust analytics tools provide deep insights into customer behavior, campaign performance, and market trends. While the numbers themselves might be tangible, the ability to make smarter, data-driven decisions is an intangible benefit that can profoundly impact your institution’s strategy and growth. 

Maximizing Your Salesforce Investment 

As a banker, it’s critical to communicate these returns to your leadership team or board. When they ask, "What are we getting for this investment?” you can confidently demonstrate how the ROI of Salesforce drives growth, streamlines operations, and lays the foundation for future success. 

Read part 2 here.

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