The Moneytree team also implemented Salesforce Sales Cloud in August 2017.
“We went from Excel-based lead tracking to actually building funnels with Salesforce,” says Zach Taub, Chief of Marketing at Moneytree. “That was huge for us. We can now score leads and build timelines in order to follow up on leads much more effectively.”
While the company is in the early days of managing its lead pipeline “we are already seeing a huge change in workflow and how we view our lead-generation investment,” says Taub.
Moneytree deployed Sales Cloud leading up to three major networking events. Participation in these events came with a hefty five-figure price tag, so to optimise the return on that investment was a priority.
“The way to do that is to make sure we are tracking those leads in a managed approach,” says Taub. “That’s where we’ve already seen the value of Sales Cloud.”
The consumer-facing personal finance app is really only the beginning for Moneytree. The company has announced a partnership with Salesforce Japan in order to open its API data to a wide range of wealth management firms via Financial Services Cloud. The move offers the potential for Moneytree to significantly shake up the wider financial services industry.
“The challenge for financial advisors is to maintain financial information for all their clients’ portfolios,” says Makdad. “Traditionally, the only way for a financial advisor to obtain that information was through conversations with their clients. A partnership with Salesforce means that financial advisors could use Financial Services Cloud to access their customers’ real-time financial data through the Moneytree API.”
Makdad believes this will eliminate the need for financial advisors to trawl through their clients’ static bank statements, or rely on their clients to provide accurate data about their spending habits. Instead, financial advisors would have access to all their clients’ real-time financial data at their fingertips.
Maintaining data privacy is also a high priority for Moneytree, and all users must provide specific approvals before the company will access or share their financial data with authorised enterprise customers such as financial advisors and banks.
“In order to provide real value, a financial advisor needs reliable data. Moneytree is about bringing consumers, small businesses and financial services institutions closer together by getting the right information to the right people in real time – while maintaining best-practice data privacy for our customers.”