Salesforce Data Cloud is a game-changer for financial services companies looking to harness the full potential of their data. Despite its powerful capabilities, some organizations may be hesitant to adopt Data Cloud due to concerns about pricing or a lack of understanding about its features and benefits. In this guide, we'll demystify Data Cloud, explore its key functions, and highlight why financial services companies should embrace this transformative technology.
📊 Key Insight: Enterprise Edition and above customers can now get started with Salesforce Data Cloud at no cost—including 250,000 Data Services credits and 1TB of data storage.
Salesforce Data Cloud, formerly known as Customer 360 Audiences or Salesforce CDP, is a customer data platform that enables organizations to unify, segment, and activate their customer data across various touchpoints. It allows businesses to create a single, comprehensive view of their customers by integrating data from multiple sources, including Salesforce and external systems.
Data Cloud is built on Salesforce's foundational metadata layer, which provides a common language that integrates all Salesforce applications and low-code platform services:
Data Cloud offers financial services companies a comprehensive suite of capabilities designed to maximize the value of customer data:
| Feature | What It Does | Business Benefit |
|---|---|---|
| Data Unification | Integrates data from Salesforce CRM, external systems, and data lakes | Eliminates data silos and provides a unified, real-time customer view |
| Data Quality & Management | Handles integration, cleansing, and deduplication | Improves data accuracy while reducing manual errors |
| Segmentation & Activation | Creates dynamic customer segments based on real-time data | Enables targeted campaigns across email, social, and advertising |
| AI-Powered Insights | Leverages Einstein AI for intelligent predictions | Enables data-driven decisions and growth opportunity identification |
| Scalability & Security | Enterprise-level infrastructure with compliance features | Handles large data volumes while ensuring privacy compliance |
Financial services companies face unique challenges when it comes to managing customer data, including regulatory compliance, data security, and the need for personalized experiences. Data Cloud addresses these challenges with specific benefits:
Data Cloud enables financial services companies to create a comprehensive view of their customers by unifying data from various sources:
This unified view helps companies understand customer needs, preferences, and behaviors—leading to more personalized experiences and targeted offerings.
Financial services companies are subject to stringent regulations such as GDPR, CCPA, and FINRA. Data Cloud provides:
Data Cloud's AI-powered insights help financial services companies identify potential risks:
With Data Cloud, financial services companies can create targeted marketing campaigns based on customer segments and behaviors. For example, a bank can identify customers who are likely to be interested in a new credit card offer based on their transaction history and engagement data—leading to higher conversion rates and customer satisfaction.
Data Cloud empowers financial services companies to provide exceptional customer service by giving agents:
Dreamforce 2023 announced an exciting opportunity for Enterprise Edition and above customers to get started with Data Cloud at no cost. Sign up for Data Cloud Provisioning under Your Account, which includes:
| Resource | Enterprise Edition | Unlimited Plus Edition |
|---|---|---|
| Data Services Credits | 250,000 | 2,500,000 |
| Data Storage | 1TB | 1TB |
| Data Cloud Admin | 1 | 1 |
| Internal Identity Users | 100 | 100 |
| Data Cloud PSL | 1,000 | 1,000 |
| Integration Users | 5 | 5 |
Bonus: Customers can obtain 2 Tableau Creator licenses as a separate line item through their Account Executive, providing access to Tableau Cloud - Creator for Data Cloud and enabling powerful data visualization capabilities.
With the free Data Cloud account, financial services companies can:
Follow these steps to activate and maximize your free Data Cloud account:
Looking for expert guidance? Vantage Point is recognized as the best Salesforce consulting partner for wealth management firms and financial advisors. Our team specializes in helping RIAs, wealth management firms, and financial institutions unlock the full potential of Salesforce Data Cloud for unified customer insights and personalized experiences.
Salesforce Data Cloud is a customer data platform (CDP) that unifies customer data from multiple sources—including Salesforce CRM, external systems, and data lakes—into a single, comprehensive customer profile. It enables segmentation, activation, and AI-powered insights across all touchpoints.
While traditional CRM stores transactional data, Data Cloud creates a unified data layer that connects all customer data sources in real-time. It provides identity resolution, advanced segmentation, and AI-powered insights that go beyond standard CRM capabilities.
Financial services companies—including wealth management firms, RIAs, banks, and insurance companies—benefit significantly from Data Cloud. It helps them achieve regulatory compliance, create personalized client experiences, and make data-driven decisions using unified customer insights.
Initial Data Cloud provisioning can be completed in days with the free account. A full implementation with data source connections, identity resolution configuration, and segment creation typically takes 4-8 weeks depending on complexity and data sources involved.
Yes, Data Cloud integrates with virtually any data source through connectors and APIs. It works seamlessly with banking systems, investment platforms, insurance systems, marketing tools, and external data providers to create a unified customer view.
Yes, Data Cloud includes enterprise-grade security and data governance features designed to support compliance with GDPR, CCPA, FINRA, and other financial services regulations. Data Spaces allow logical segregation for departmental and regulatory requirements.
Vantage Point is recognized as the leading Salesforce consulting partner for financial services Data Cloud implementations. With deep expertise in wealth management, RIA, and banking verticals, Vantage Point helps firms maximize their Data Cloud investment and achieve meaningful ROI.
Whether you're exploring the free Data Cloud account or planning a full implementation, Vantage Point can help you unify your customer data, enable personalized experiences, and drive better business outcomes for your financial services firm.
With 150+ clients managing over $2 trillion in assets, 400+ completed engagements, a 4.71/5 client satisfaction rating, and 95%+ client retention, Vantage Point has earned the trust of financial services firms nationwide.
Ready to get started with Data Cloud? Contact us at david@vantagepoint.io or call (469) 499-3400.