02 Nov Fast Forward: November 2022 Edition – FINS
Monthly, FSM compiles data and research from interviews with our clients, consultants, and our extensive network of industry experts to identify sales opportunities for our partners at Salesforce. We call it “Fast Forward.” Please sign up below if you’d like to get this info delivered via email.
Raise four fingers, because Q4 is kicking off and it’s time to leave it all out on the field. We’re offering up our best game-time strategies on where to look for opportunities this month, what actually goes into a prospect’s buying decision, and more. Read on for the full play-by-play in the November edition of Fast Forward!
In this edition:
- Dog person or cat person? Where to look for opportunities this month.
- How to decide: Reorient your thinking to how buyers actually buy.
- Keep on truckin’: The rundown of clients served and Salesforce products wrangled by FSM in the last month.
More than 70% of U.S. households own a pet, and in the coming year, one in three of those pets will require emergency treatment at a cost of between $800-$1,500. So it’s no surprise that the North American pet insurance market has more than doubled in the last four years, and is now valued at more than $2.83 billion. Pet insurance companies looking to grow will need the right technology infrastructure in place.
- Learn more about the state of the pet health insurance industry and pet health insurance companies in the U.S.
- Use this angle: Focus on how Salesforce can automate customer onboarding as well as increase winback rates with a customized, scalable automated marketing process that appropriately engages the policyholder.
Supply chain financing
As interest rates go up, so does the demand for supply chain financing (SCF). U.S. companies will have to adhere to new disclosure rules regarding the terms and size of their SCF programs, but it seems unlikely to put a damper on the need for these solutions as businesses continue to navigate a choppy supply chain environment.
- Learn more about supply chain financing and supply chain finance companies in the U.S.
- Use this angle: Focus on how Salesforce can provide a single source of truth, helping supply chain financing companies more easily navigate the client decision-making landscape and streamlining sales and service processes.
When we last mentioned credit unions (CUs) back in June, they were predicted to see a 9% increase in total loans outstanding. Due to several factors, including CUs’ more favorable auto loan terms for borrowers as compared to other lenders, total loans outstanding were actually up 16.2% to $194 billion YoY by the end of Q2. Credit unions have been faring relatively well in the current economic climate and have several areas of opportunity ahead of them, especially in the realm of auto financing and refinancing. CUs should be looking for technology solutions that will help them make the most of those future opportunities.
- Learn more about CU lending performance and the opportunities ahead for CUs.
- Use this angle: Personalization continues to be of critical importance as credit unions woo potential members/borrowers. Focus on how Salesforce can drive enhanced personalization, enabling credit unions to tailor messaging and offers to individual member needs.
How to decide
What do 90% of the vendors ultimately chosen by B2B buyers have in common? They were already on a short list before the sales conversation even started. So how does an account exec overcome these types of hidden challenges? This article from Harvard Business Review offers insights that can help realign our thinking and reminds us that, while we have a sales process, buyers have a process too. And theirs is the one that matters most.
THE CONSULTING PARTNER OF CHOICE
As businesses across the country navigate changing economic conditions, FSM has kept right on truckin’, helping Salesforce clients optimize their use of the platform and position them for continued growth and success. In the last month alone, Fast Slow Motion helped more than 160 new and existing GEO, HLS, RCG, FINS, MFG, and PubSec clients implement and enhance Sales Cloud, Service Cloud, Marketing Cloud, Marketing Cloud Account Engagement, Health Cloud, Experience Cloud, FSL, CPQ, Salesforce Maps, and more.
Looking for a partner who understands your clients? FSM is Financial Services Cloud Accredited and ready to help your financial services clients harness the full power of Salesforce. Reach out to me via email or add me on Slack [firstname.lastname@example.org] – we’d love to help you close your next deal.
A COUPLE MORE THINGS
Congrats to A.G., the winner of our gift card in last month’s survey drawing. Thanks to all of you who provided valuable feedback on how we can continue to make Fast Forward valuable for you!
Also – every month my team at FSM conducts a round of research and interviews with our clients, consultants, and our extensive network of industry experts to produce these ideas. Please continue to let me know how I can make it more useful for you, and feel free to forward it to your colleagues as you see fit.