The year 2020 was a challenging one for everyone. The Coronavirus pandemic, global lockdown, and economic crisis have affected our personal lives and the entire business world. In this article, we will analyze what has changed in sales, marketing, and other industries over the past year and what Salesforce future trends to watch out for in 2021 to keep up with the new global market requirements.
How the Business World Changed in 2020
This year has shown that some of the businesses and worldwide economics were not prepared to meet the challenges brought by the pandemic. Business executives now should come up with new models for the upcoming year to make sure they meet their company’s goals, as well as fulfil their customers’ needs and expectations. Here are only a few of the approaches that every business should consider and apply to survive and profit in 2021.
Digital transformation is a must
Earlier this year, we’ve already talked about digital transformation and its benefits in our blog. What business owners have learned is that digitization is not enough to keep their businesses afloat during such a hard time. Planning digital transformation ahead of time and introducing innovative solutions is important to drive progress and increase agility. Long-term planning is no longer a priority when everything can change in a matter of days. Business executives should focus on receiving most of the digital transformation benefits within a shorter period of time.
Decision-making powered by accurate data
The accurate and relevant information has been the major secret to every company’s success for decades. For instance, Salesforce generates and analyzes data based on customers’ behavior, thus allowing companies to adjust their marketing campaigns or improve products/services and make them better respond to the customers’ needs. Such decisions based on accurate information are likely to bring better results and meet your specific business goals.
Possibility to work remotely
We know that this approach is not applicable to every type of business. However, the possibility to work from anywhere is a great benefit for numerous companies. As a result of pandemic and global lockdown, people were not able to visit the office so executives had to quickly respond to the new challenges and provide their employees with an opportunity to work remotely and access corporate information they need. Salesforce works as a single workspace where your company’s staff can get any data required for working with clients, partners, and teammates.
Strong connection between the employee and customer experiences
As we’ve mentioned above, executives had to quickly come up with a solution to make sure their employees have everything they need to keep the business running even during the pandemic. Prioritizing your staff’s needs is as important as your clients’ ones. As simple as it is, when your employees are happy and have all the resources, their performance increases, as well as your sales and customer satisfaction rates.
Find new ways to keep your employees productive
With the introduction of Salesforce Einstein Voice Assistant, it became easier to reach potential customers and stay connected with partners. This technology is powered by AI and integrated into the Salesforce platform. The company has recently introduced an update called Einstein Automate to help organizations streamline their key processes and transform time-consuming repetitive tasks into automated solutions. It allows employees to save time, thus, focusing more on clients and staying productive throughout the day.
What Is the Current Salesforce Growth Rate?
According to the latest Salesforce financial reports, the revenue for the fiscal year 2020 surpassed $17 billion reaching the annual Salesforce growth rate of almost 29%. Earlier this year the company’s executives predicted that the revenue will grow by 23% and reach $21.1 billion by the end of 2021. However, they’ve recently changed their projections taking into account the pandemic consequences and currently believe that the company’s revenue will reach $20 billion with an annual growth rate of 17%. Despite these expectations, Salesforce has embarked on the path of becoming more than just a CRM platform.
What’s New in Salesforce?
Decisions that have been made by the Salesforce executive team over the past few years show that the company’s leaders are currently positioning their platform beyond traditional CRM. For instance, in 2018 Salesforce made one of its first major acquisitions – the company bought MuleSoft, an integration platform for connecting CRM, ERP, and other apps, for $6.5 billion. One year later, Salesforce has spent $15.7 billion on purchasing Tableau Software, a data visualization software company. Finally, in December 2020, Salesforce bought Slack, one of the world’s most popular business communication platforms, for $27.7 billion.
As a result of the above-mentioned acquisitions, Salesforce now provides its customers with an all-in-one customizable solution to serve businesses of all sizes across multiple industries and global markets.
The Future of Sales and Marketing With Salesforce
Over the past 20 years, Salesforce has turned from a classic CRM platform to a fast-growing ecosystem to serve the needs of thousands of companies across various business domains. Its variety of customizable integrated solutions allows adjusting the platform and choose only the components that align with the specific business needs. Modern sales and marketing departments will be highly dependent on such platforms as Salesforce if their company’s executives want to keep up with the rapidly changing market requirements and meet customers’ needs.
If you are looking for an opportunity to introduce Salesforce solutions to your business, contact OMI to discuss your project and business goals in more detail. Our team will be glad to assist you with any questions and provide services to cover your needs.