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Salesforce (CRM) Launches Sales Cloud for Seamless Virtual Selling

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Zacks Equity Research
·3 min read
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Salesforce CRM recently launched Sales Cloud 360 to better support virtual sales activities. Companies using this new technology can quickly digitally transform their business and boost sales and productivity.

Notably, most businesses affected by the pandemic are expecting to return to growth this year. However, the shift to everything-from-home calls for companies to quickly develop and adapt to the new technology to survive the drastic pandemic-led change in the business landscape.

Another major challenge faced by businesses is that due to the historic declines in sales and profitability last year stemming from COVID-19, sales companies will have no accurate year-on-year comparison, sales baseline or benchmark to keep a track of their business health. Thus, the support of a reliable and flexible technology like Sales Cloud 360 is crucial. Virtual interactions, AI-backed pipeline monitoring and video call transcript analysis will enable managers to pinpoint areas that need more assistance and training.

salesforce.com, inc. Price and Consensus

salesforce.com, inc. Price and Consensus
salesforce.com, inc. Price and Consensus

salesforce.com, inc. price-consensus-chart | salesforce.com, inc. Quote

Statistics to Support the Rationale Behind Sales Cloud

Notably, to develop the Sales Cloud 360, Salesforce has held more than 6 million calls with customers over the past year, to understand their needs and challenges in their urgent digital transformation journeys.

According to surveys by Salesforce, 51% of salespeople expect to travel lesser than pre-pandemic times and lesser than 50% expect to go back to the office.

Moreover, only 38% of salespeople claim to have been trained on virtual selling over the past year. Also, only 25% of respondents said that their workflows and processes are excellent.

Markedly, more and more companies are adopting Salesforce’s solutions to drive business recovery after being affected by the pandemic. The company’s support has led to a 21% increase in sales leads for its customers in 2021 as compared to the last year. Notable customers using the Sales Cloud are Honeywell HON, Snowflake SNOW, Jet It and Cytiva.

Notably, Accenture ACN, in partnership with Salesforce, is also creating AI-powered and data-driven solutions to help customers sell from anywhere and drive business growth and profitability.

The increasingly demanding technological needs of virtual sales activities and the growing dependence of major companies on Salesforce are encouraging the company to develop and deliver technological innovation like Sales Cloud 360, to further ease the digital transformations of customers and help them sell from anywhere.

Salesforce currently carries a Zacks Rank #3 (Hold).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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