10 Jul Why Business-to-Business Digital Commerce Gets Salesforce So Excited?
Sales technologies such as CRM systems are a necessity in a digital era where every information is key. To put it simply, companies that don’t use Customer relationship management or digital transformation tools are effectively stunting their organizations’ growth.
Gartner has noted that the $45bn CRM market is the Largest Software Market in 2017 and Will Be the Fastest Growing Software Market in 2018.
Forbes implied that software-as-a-service deployments are making the difference, so much so that Gartner predicted SaaS Customer relationship management solutions will achieve a deployment rate between 80% and 85% in the next 9 years.
Cloud-based customer relationship management applications are destined to be ubiquitous tools in organizations looking to grow and engage customers. Leading the charge as the number one CRM is Salesforce, popularly known as SFDC. The latest marketplace report (Magic Quadrant) from Gartner suggested that Salesforce is the preferred alternative by a substantial margin. It also suggested that the cloud-based Client relationship management will still dominate the marketplace.
But, what explains the growth of Salesforce?
For starters, everyone is moving to the cloud, as proof by Gartner’s findings. Second of all, the significance of promotion is simply increasing from the business world. The Massachusetts Institute of Technology report said that 91 Percent of businesses using Salesforce noted that their promotion teams have a strong executive voice. In addition, 64 percent of marketers put more value on their existing customers than acquiring new ones, in accordance with the source. With Salesforce, professionals can now cater to customers and clients all through their entire experiences. Salesforce changes how companies treat their clients. With more information on clients, professionals can deliver personalized experiences.
What highlights the acceptance of Salesforce is that it caters to –
- The need for organizations to have visibility of all processes, especially critical since processes have evolved to be more complicated with multiple, diverse stakeholders.
- The need for organizations to have predictability. So, they can understand what works/doesn’t work and efficiently allocate resources to meet the business needs.
- The need for organizations to be closer to their customers. So, they can forge a strong relationship and serve their increasing aspirations better in the connected World.
Why is Salesforce dominating the CRM market?
54 percent of organizations reported that Salesforce provided a precise advantage to sell, and 4 out of five of Salesforce users stated that they can address their clients needs with more ease than with some other Customer relationship management solutions, particularly those without cloud-based tools. This is because the cloud allows employees to access data from any location, and it’s no different in Salesforce. Client Think reported that tools that seamlessly sync client data across departments are a foundational requirement of driving an ROI. As Salesforce and custom solutions allow users to enter more information about their clients, it’ll only become more and more important to provide business-wide visibility of client information.
In addition, current Salesforce users have an understanding that whenever sales, finance, and legal teams can share
one system for customer records and data, teams can become much more efficient as they process accounts at a much faster rate, decreasing the time it can take to complete tasks.
The future of Salesforce
Therefore, following a long journey throughout the Customer relationship management Market, Salesforce emerged as a leader as a result of its exceptional capabilities and cloud connectivity, but when procuring IT solutions, decision-makers also need to ensure that those programs can provide just as much long-term value as they grants in of the short term. One example of this is analytics. But, Salesforce’s new investments in AI through Einstein proves that the company understands the challenges and opportunities, ahead.
In summary: Invest in Data Science and Artificial Intelligence to move beyond being diagnostic to a more prognostic approach, helping organizations predict their sales better.
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