Salesforce is now one of the most popular cloud-based CRM, which helps businesses of all sizes to connect and operate seamlessly, get enough info about their client base, better coordinate the sales and customer management, etc. Most of them may have heard about Salesforce now and may have even used their services. From primary startups to Fortune 500 firms, all are now on the Salesforce train. With the marketing competition and share prices increasing steadily, it seems to be a good reason for businesses to use effective CRM.
What Salesforce does?
As we know, Salesforce is a leading software as a service (SaaS) provider focusing primarily on CRM applications. Services of Salesforce now allow businesses to access cloud computing technology in order to connect better with the customers and partners. It has now become the leader in various industries across the globe as it helps the organizations to do the end-to-end service administration through this platform better.
Salesforce also impresses the investors by crushing their profit generation, which was a hike of about $3 billion, which is a 26% hike from the previous quarter of the year. Salesforce is now being called ‘Cloud King’ as it stays consistently bullish on stocks.
The company was founded in the year 1999, and founding members were Marc Benioff, Frank Dominguez, Dave Moellenhoff, Parker Harris, etc., which was then one of the forerunners of the providers deploying cloud CRMs. Later, Salesforce was able to leverage the benefits cloud technology in order to create a wide range of business applications to connect the customers better and also help the business decision-makers to get clear insight to their performance through apps and analytics.
Even when they have a wide range of applications, Salesforce CRM focuses primarily on helping organizations to manage customer engagement, customer acquisition, customer retention, etc. by providing companies proper and timely insights. There are about 150000+ companies now using Salesforce CMS, including the giants like Amazon, Adidas, American Express, ADP, etc. to name a few.
As discussed, Companies now use Salesforce more to understand their customers, better connect with them at various levels, and to expand the customer base. This cloud-based software will let the companies track real-time analytics, acquisition success, support, customer queries, complaints, and a wide range of CRM functions in a cost-effective and easy to handle cloud storage and access it anywhere.
According to Salesforce, the clients who use this software will start seeing an improvement in various business areas, i.e., reports show an average:
- 27% increase in terms of sales revenues
- 32% hike in conversion rates of leads
- 34% increase in customer satisfaction
- 56% increase in faster deployments etc.
As Salesforce features a wider selection of cloud applications, it is used by many organizations to assist with their marketing, sales, and spend analysis, etc. to further analyze their performance and enhance it. Different clouds available allows the users to analyze different types of data, set open communication with the customers, and implement data-driven sales strategies, etc.
Future of Salesforce
With a number of top mergers, expansions, and industry partnerships like that with Flosum.com, Salesforce has now established itself to be the fastest-growing CRM software of all time. However, there is also a talk that AWS (Amazon Web Services) may gain over Salesforce in the long run. Regardless of this fact, Salesforce still bulls.
Now everyone is excited about the future of Salesforce; let’s explore this from various perspectives.
Artificial Intelligence and Machine Learning
As we can see, AI, ML, and IoT are now gaining large momentum. So, Salesforce introduced Einstein, which had taken over the market by storm in 2018. There had been many advancements happening in terms of predictive analytics, deep learning, leveraging which Einstein is becoming more powerful day by day with many upgrades coming back o back. Salesforce also presented some ventures and tools which effectively make use of artificial intelligence in order to solve more crucial business scenarios. Some of these are Digital Genius and Squirro etc. These initiatives clearly point towards the strong commitment of Salesforce to explore AI in their CRM.
Better sales insights
As of late, Salesforce joined hands with Google also, which is one of the profound alliance in cloud computing of the times. This alliance will further put forth the ways for Salesforce to use the vast cloud infrastructure of Google and try to expand their service core. Google Analytics 360 is also a part of this integration, which will further prove out to be one of the top the platform for businesses to connect with customer relationship management systems with solid data analytics and insights. This is followed further by Google Drive Quip Live, Lightning for Gmail, etc. You may also see Salesforce providing the connectors to the data warehousing service of Google and BigQuery of Google which may further enable the Salesforce users to effective combine business data with other parallel datasets for better enterprise planning.
Marketing cloud like never before
We may also expect that the marketing cloud may become much bigger than ever before as it may witness a huge increase in adoptions across the Salesforce ecosystem. Day by day, there is an increasing demand for the skill range and expertise in the marketing domain, which could be fulfilled by the future Salesforce applications specializing in this sector.
Einstein and Watson
Last year, we primarily saw how AI had evolved and being used in full-scale enterprise-wide applications. Now, this year, we may expect further enhancements in this domain which may center on the partnership of IBM with Salesforce. You can expect the augmentation of Salesforce Einstein, which may further work hand in hand with IBM Watson in order to ensure technology enhancement across marketing, sales, services, and support.
With each year passing, we also see that more industries are getting lined to CRM software like Salesforce. As of late, we have seen how Financial Service Cloud is changing the retail banking sector and how it is expanding exponentially by leveraging CRM cloud. Salesforce keeps its focus right at diminishing the isolation among different departments of an organization and also to cut short the space between the sales processes and customers.
Author Bio– Sujain Thomas is a writer and SEO expert. Nowadays Sujain manages and writes for Flosum.com. Her primary focus is on “Salesforce DX”. She is responsible for building content that helps IT professionals learn to speak each other’s highly specialized languages.