CRM 256.03 (+1.25%)
US79466L3024SoftwareSoftware - Application

Last update on 2024-03-05

Salesforce (CRM) Explained

An Overview of CRM: Its Business Strategy, Core Products, Major Competitors, and Essential Insights into its Role in the Software - Application Industry

Salesforce Inc provides enterprise cloud computing solutions. The company offers customer relationship management technology that brings companies and customers together. Its Customer 360 platform helps the group to deliver a single source of truth, connecting customer data across systems, apps, and devices to help companies sell, service, market, and conduct commerce. It also offers Service Cloud for customer support, Marketing Cloud for digital marketing campaigns, Commerce Cloud as an e-commerce engine, the Salesforce Platform, which allows enterprises to build applications, and other solutions, such as MuleSoft for data integration.

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Current Business Strategy

Salesforce's current strategy focuses on digital transformation, cloud innovation, and customer success. They emphasize deepening customer relationships through AI-driven insights and personalized experiences, expanding their service offerings into new industries, and acquisitions to enhance their technology stack and market reach.

Most known Products

Here is the list of the 5 most well-known products of Salesforce (CRM):

  • Salesforce Sales Cloud: A comprehensive sales automation product that helps to streamline the sales process, manage leads, and drive sales from anywhere, incorporating AI-driven insights for better decision-making.
  • Salesforce Service Cloud: A service platform that enables businesses to provide superior customer service and support. It includes features like case management, automated service processes, and AI-powered solutions to improve customer satisfaction.
  • Salesforce Marketing Cloud: An integrated marketing tool that empowers teams to deliver relevant, personalized journeys across channels and devices, engaging customers with the right message at the right time.
  • Salesforce Commerce Cloud: A cloud-based solution for creating unified, intelligent shopping experiences across all points of commerce, including mobile, web, social, and store.
  • Salesforce Platform: A comprehensive platform-as-a-service (PaaS) offering that enables developers to build and deploy trusted apps and websites using the Salesforce technology stack.

Competitors

Here is the list of the main 5 competitors of Salesforce (CRM):

  • MSFT: Microsoft is a competitor primarily through its Dynamics 365 suite, which offers similar CRM and ERP solutions integrating with its Office 365 productivity suite, aiming at enhancing business processes and customer relations.
  • ORCL: Oracle competes with Salesforce in the CRM space with its Oracle Customer Experience Cloud (Oracle CX Cloud), offering a broad suite of applications for marketing, sales, service, and e-commerce.
  • SAP: SAP's S/4HANA and its C/4HANA suite directly compete with Salesforce's offerings, focusing on integrating business processes and providing insightful customer data to businesses for better decision-making.
  • ADBE: Adobe enters the competition through its Adobe Experience Cloud, offering a collection of applications designed to gather customer insights, personalize experiences, and manage customer journeys effectively.
  • CRM: Though somewhat unusual, Salesforce also competes with newer versions of its own products as it continuously innovates. Existing customers of older platforms may hesitate to migrate to new versions, creating a self-competition scenario.

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