Two Decades Strong… How Salesforce Dominated the $145B CRM Industry it Pioneered

January 19, 2022 admin

Established by Marc Benioff – a former Oracle executive – in 1999, two decades after, it captures 20% of market share, serves 150000+ customers, and outgrows its competition at break-neck speed.

With $27B projected in 2022 revenue, Salesforce has enjoyed monumental success due to several factors, including…

Innovation-bred

Consecutively named by Forbes as one of the world’s most innovative companies¹, Salesforce takes innovation up a notch. Heck, the company pioneered SaaS to offer affordable cloud-based services against the rather expensive on-premise software version.

Innovation-driven, Salesforce launched Force.com; a next-gen customizable Platform as a Service (PaaS) that supports 100000+ customers and 2B transactions daily. Salesforce has continued to improve its product/service quality with new technologies like AI through acquisitions and partnerships. In 2020, it bought Slack for $28B to consolidate its remote work offering.

Robust ecosystem

Salesforce has an army of third-party developers, vendors, and consultants building tools on its platform. This produces a ripple effect that allows Salesforce to innovate at a faster rate while creating significant value for both its customers and community.

Unmatched product quality

The sheer size of its product/service features is remarkable. They deliver industry-specific solutions that tackle the distinctive problems of multi-sectoral businesses. More so, Salesforce Customer 360 is the only platform that offers an integrated solution that covers sales, marketing, analytics, and many other aspects of business operations².

But Oracle, Microsoft, and SAP want a piece of the pie…

Unlike Salesforce’s holistic offering, these companies offer customers alternative point-solutions. Oracle CX Sales uses AI & machine learning to deliver real-time data analytics and eCommerce solutions. Microsoft Dynamics 365 also deploys AI to provide integrated sales management solutions. SAP Sales Cloud, on the other hand, provides users with excellent sales management and analytics solutions.

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