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Enable Proactivity with Salesforce AI — Einstein Next Best Action

Sikich

Apr 12 2021

3 min read

Every business acknowledges the challenges associated with training new hires. How can ramp up time be minimized for reaching peak productivity? How can we enable new or junior employees with the experience that our star performers have gained over time? Salesforce has been a leader in making strides away from a company’s CRM simply being the “customer database.” Einstein Next Best Action and Recommendations are just another example of how they turn CRM from database to actionable intelligence.

Define Recommendations and Build a Strategy

Imagine the following scenario: you have a mortgage loan with your local bank, and often head to the nearest branch for normal day-to-day deposit and withdrawal activities. You’ve just reached the milestone of 50% LTV on your mortgage, meaning that you only have half of the home’s value left in debt. What you don’t see behind the scenes at your bank is that a central team has identified the following trend: their customers are extremely likely to be thinking about home renovation projects when they reach the 50% LTV milestone, so they have begun to pull lists of these customers and forward to branches for following up on HELOC opportunities.

The central team has already defined the Recommendation: Suggest a Home Equity Line of Credit to the customer. The central team has also already identified a strategy: make the suggestion when a customer is near 50% LTV on their mortgage. What happens next?

A More Proactive Front Line

In the prior world, branch recipients of the HELOC intel would be responsible for coming up with the way to contact the customer about the opportunity. But how often have you as a customer followed through on generic marketing emails or phone calls suggesting additional products?

Allow Einstein Next Best Action to drive the intelligence home. Better than the central team having to take time to generate regular lists, why not allow the Salesforce platform to do the dirty work? Rather than a table of names and numbers, why not give tellers and personal bankers the information right on the customer screen they pull up the next time they walk into the branch? Allow any employee, regardless of experience or ability to draw insight from various data points on a screen, to suggest a congratulatory message on paying off half the home, and that the bank is their to support their needs should they be thinking about a renovation project or other personal home loan needs.

Salesforce Einstein Next Best Action

This is one of many examples where Einstein Next Best Action can enable your customer-facing teams with information that has a clearly defined step to take based on historical wins you have identified. If you would like to learn more about it, contact us today. Please also refer to our more comprehensive resource on the overall Client Experience here.

This publication contains general information only and Sikich is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or any other professional advice or services. This publication is not a substitute for such professional advice or services, nor should you use it as a basis for any decision, action or omission that may affect you or your business. Before making any decision, taking any action or omitting an action that may affect you or your business, you should consult a qualified professional advisor. In addition, this publication may contain certain content generated by an artificial intelligence (AI) language model. You acknowledge that Sikich shall not be responsible for any loss sustained by you or any person who relies on this publication.

About the Author

Sikich

Sikich is a global company specializing in technology-enabled professional services. With more than 1,900 employees, Sikich draws on a diverse portfolio of technology solutions to deliver transformative digital strategies and is comprised of one of the largest CPA firms in the United States. From corporations and not-for-profits to state and local governments and federal agencies, Sikich clients utilize a broad spectrum of services* and products to help them improve performance and achieve long-term, strategic goals. *Securities offered through Sikich Corporate Finance LLC, member FINRA/SIPC. Investment advisory services offered through Sikich Financial, an SEC Registered Investment Advisor. 