Can Salesforce Really Outlive Recession Ahead Of us?

The year 2019 was a happy year for a big majority of businesses globally in terms of profits made.

Enter coronavirus. Boom.

The novel coronavirus (COVID-19) has drastically changed the very nature of business-to-business and business-to-consumer interactions across the globe. Beyond the heartbreaking impact on the economy and people, COVID-19 has made stock market pundits and business analysts raise an alarm on coronavirus. 

Some of the leading industry and medical experts have expressed fears that the worst days are yet to come as the global pandemic is still expected to wreak havoc on things such as travel, tourism, supply chains, and other sectors that rely on in-person sales meetings and contacts.

Contrary to every other company, CRM giant Salesforce is still riding high on the acquisitions made by it in the recent past. Moreover, the third quarter of 2019 for Salesforce was impressive as the customer relationship management company managed to surpass all expectations by exceeding its targets. 

Salesforce went on to comment that its “value proposition” was resonating among a majority of enterprise software buyers. For the third quarter, Salesforce.com reported income of $10.1 million, or 8 cents per share, on revenue of $276.5 million.

The Acquisition of Tableau

Salesforce made a savvy and thoughtful move with the acquisition of Tableau, the Seattle-based software firm. This acquisition solidified the position of Salesforce as the preeminent personalized-marketing provider. Hands down, the acquisition of Tableau at a mere US$15.7 million was a dream decision.

Tableau specializes in data analysis and visualization and it makes use of artificial intelligence or what we may refer to as business intelligence. It is much more powerful and much faster than previously-used analytics methodologies.

Salesforce users will benefit by leveraging the potential of artificial intelligence via Tableau. This would be primarily because users will gain uninterrupted access to more potent, faster, and data-driven insights to multiple stakeholders throughout the business verticals.

Ajay Dubedi, the CEO and Founder of Cloud Analogy, remarked the acquisition of Tableau by Salesforce gives customers the unmatched ability to ensure that self-service & embedded decision support along with augmentation are available to all managers, executives, and front line employees.

Responding to the COVID-19 Crisis

There is no denying the fact that a crucial part of effective personalized marketing and corporate social responsibility is being responsive to the requirements of all stakeholders. In the wake of the novel COVID-19 crisis, CRM powerhouse Salesforce has truly stepped up to the plate and donated $1 million to UCSF’s COVID-19 Response Fund and $500K to the CDC Foundation’s Emergency Response Fund. 

Salesforce also announced it will match the donations made by its employees to all eligible organizations, and during this time are recommending they support organizations such as the CDC Foundation, UNICEF, Direct Relief, Save the Children, and Give2Asia.

For one thing, the CRM powerhouse is maintaining solid stakeholder relations and smooth operations by assuring one and all that all interns and vendor hourly service providers will be paid. In addition to this, it would be a heartwarming fact for Salesforce investors to know that the CRM giant introduced its platform to new potential clients during these times while also guiding and assisting essential first responders during the prevailing coronavirus outbreak. 

It was also announced by Salesforce that it will be providing free access to technology for call centers, emergency response teams, and care management teams for health systems that are affected by the pandemic.

One of the biggest advantages that came in the way of Salesforce was Tableau. Through it, Salesforce recently developed a free data resource hub for helping companies view and understand data pertaining to the novel coronavirus in near real-time using data from the World Health Organization, Johns Hopkins University, and the Centers for Disease Control and Prevention.

Salesforce also announced that it is providing a team-collaboration platform Quip Starter for free through September 30, 2020, to any Salesforce customer or non-profit organization.

All these contributions from Salesforce will go a long way to establish its presence as a mindful, responsible, responsive, proactive, and personalized-marketing software provider in these challenging times.

Conclusion

Salesforce made an early move into the segment of cutting-edge technologies much before the coronavirus outbreak. It will go a long way to cement its place as the invincible leader in the technology-empowered world of customer relationship management. 

On top of this, the response of Salesforce to concerns about the coronavirus (COVID-19) has been compelling and swift, to say the least. Altogether, these factors combine to bring out a cogent case in favor of Salesforce.

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