Why CRM is Strategic: The Salesforce View

Friday Dec 7th 2018 by Sean Michael Kerner

Salesforce's executive leadership outlines its strategic imperatives as the CRM vendor continues to grow.

Salesforce continues to grow as its customer find value in the Software-as-a-Service (SaaS) vendor's platforms.

Salesforce reported its third quarter fiscal 2018 results on Nov. 27 with revenue coming in at $3.39 Billion, up 26 percent year-over-year. Looking forward to the fourth quarter, Salesforce provided revenue guidance in the range of $3.551 Billion to $3.561 Billion.

"CRM has never been more strategic," Marc Benioff, Salesforce CEO said during his company's earnings call. "You could see that in the growth rates for the CRM marketplace and it remains the fastest growing market segment in enterprise software."

Benioff emphasized that CRM is all about the customer. He commented that not only is Saleforce the largest player in CRM, it is also putt up non-trivial growth rates.

"A lot of companies are doing very well, because this is what it’s all about; it’s all about the customer and Salesforce remains this global CRM leader," he said.

Customer 360

Salesforce is not just resting on its laurels, it is also actively building new services for customers. Among them is Customer 360 which was launched at the recent Dreamforce event. Benioff said that Customer 360, connects all of the Salesforce Cloud capabilities together, providing Salesforce's customers with a single 360 degree view of their customers across every touch-point, across sales, across service, marketing and commerce.

Bret Taylor president of products commented that with Customer 360, organizations get a single view of customers through all the touch points.

"Our strategic advantage relative to competitors trying to catch up by acquiring the second place product in each of the spaces is that we are an integrated solution," Taylor said. "Our customers are looking for an integrated solution to their business problems, not just pieces of technologies and that’s our strategic advantage in our product portfolio."

Keith Bock, co-CEO of Salesforce took a more biblical approach to how he sees the evolution of the Salesforce portfolio.

"So, first in the beginning of time there was the Service Cloud. Right? Then, on the seventh day, God created something else and said it was Financial Services Cloud and then Financial Services Cloud started on a wealth management and then it went from wealth management to retail banking, then it went to consumer banking and then it would go to commercial banking, and the list will go on and on," Bock said. "We're responding to our customers in these industries by providing very rich functionality that is specific to what those customers are looking for and that's been the strategy."

Sean Michael Kerner is a senior editor at EnterpriseAppsToday and InternetNews.com. Follow him on Twitter @TechJournalist.

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