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How to Optimize Leads Using Salesforce Financial Services Cloud

Sikich

May 25 2023

3 min read

In its most simple definition, a lead is a person who is interested in your product or service. Companies may describe leads by different terminology (such as prospect or potential customer) or categorize them into a variety of buckets, such as inbound or outbound. But to paraphrase William Shakespeare’s Romeo and Juliet, “A lead by any other name would smell as sweet.” That is, every lead represents the first step in a potential business relationship.

Where do leads come from?

In the insurance industry, leads can come from any number of sources, including in-person networking, referrals, trade shows, website inquiries, newsletter sign-ups, social media, and more. All of this lead generation can be great for your business—as long as they’re managed correctly.

Leads Features on Financial Services Cloud

Some financial services companies, such as wealth-management firms that primarily develop leads through referrals, may not benefit much from highly specialized leads management tools. But we recommend that companies that are actively getting leads through large marketing efforts, trade shows, and other endeavors make use of the Leads module on Salesforce Financial Services Cloud.

Salesforce Sales Cloud has built-in capabilities that help companies optimize and manage leads, including lead capture, lead scoring, lead routing, and marketing automation. But FSC’s leads features were designed specifically to support the needs and objectives of insurance agencies and other financial service industry companies.

Those features include:

Client data integration

This allows businesses to integrate lead data with existing client data, such as account balances and investment information, in order to get a more complete picture of a lead’s financial situation.

Relationship-based lead management

FSC is designed to give businesses a bird’s eye view of their clients within their broader relationship networks. That means advisors can track leads individually, the relationships between leads and existing clients (for example, members of the same household), as well as the relationships between leads.

Lead-to-account matching

This time-saving feature allows agents and advisors to prioritize the most promising leads by automatically matching leads to existing accounts through select criteria, such as domain names, or pre-existing accounts with other firms.

How can Financial Services Cloud help my firm manage and optimize leads?

If your firm is currently generating leads or planning a large, lead-generating marketing effort, contact Sikich today. Our Financial Service Cloud experts will help guide your firm on how to optimize FSC’s lead tracking tools so that you can prioritize the most promising leads and convert them into clients.

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. 