Salesforce Marketing Strategy & Marketing Mix (4Ps)
Marketing Strategy of Salesforce analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on Salesforce marketing mix, help the brand succeed in the market. Let us start the Salesforce Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Quick Glance:
Salesforce Product Strategy:
The product strategy and mix in Salesforce marketing strategy can be explained as follows:
Salesforce started its operations as a software as a service (SaaS) firm. The team together wrote the sales automation software. It was launched in the year 1999 itself and was a huge hit thereafter. In October 2014, the company developed and launched its customer success platform. It tied up all the services provided by Salesforce in one platform. the bulk of its revenue comes from customer relationship management products. Apart from that, it earns its revenue from applications of social networking. In October 2017, Salesforce launched its Facebook analytics tool. The company’s CRM service includes sales cloud, commerce cloud, data cloud, service cloud, community cloud, analytics cloud, app cloud and internet of things. Salesforce is used for managing customer interaction, scheduling tasks, e-mailing, texting, etc.
Its services are translated into 16 different languages. The company has over 100000 loyal customers, 2100000 subscribers and 82000 companies which regularly use its services. Some of its offerings in its marketing mix product & services strategy are -
Sales cloud – Sales cloud helps in selling products, services, managing connections with customers, generate leads, etc. Sales cloud includes chatter, social contact, Data.com, Approval and work process, Partner management, App exchange, calendaring, etc.
Service Cloud – Increases agents productivity, reduces service cost. Provides services like communities, service wave analytics, Omni routing, Social community, etc.
Chatter – One of its newest innovations. With this service, employees get to collaborate at work. Provides status information about jobs. It makes it easy for people to connect with people and share the most critical information.
Image: Wikimedia
Salesforce Price/Pricing Strategy:
Below is the pricing strategy in Salesforce marketing strategy:
Salesforce follows a pay as you go subscription model. The models are contact manager, group, professional, enterprise, performance.
It differs according to features and duration. The company offers customized solutions to business enterprises and charges them as per the development and solutions required.
Read more about Salesforce
Salesforce Place & Distribution Strategy:
Following is the distribution strategy in the Salesforce marketing mix:
Salesforce has its headquarters in San Francisco. It also has regional offices in its major markets like Switzerland, Middle East, India, Tokyo, London, Sydney, Oregon etc. Being a cloud computing company, all its services are available via websites and specially developed apps. They have customer care and consulting services.
These are available just a phone call away for its customers.
Salesforce Promotion & Advertising Strategy:
The promotional and advertising strategy in the Salesforce marketing strategy is as follows:
Salesforce promotes its company through selective B2B and corporate channels. It promotes its company through active social media presence, online campaigns. It does not use celebrity endorsements. But runs ads in relevant print media and online media in form of posters and videos.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of Salesforce.
People:
Salesforce has become the number 8 companies among top 100 companies to work for of Forbes list, in the year 2017. The company is headed by former Oracle executive Marc Benioff. It has more than 25000 employees of a different race, religion spread all over the world. Salesforce has got an expert workforce which serves the needs of its customers and clients. The product development team and sales team ensure good product reach and the efficient customer service team ensure retention of its clients.
Physical Evidence:
Salesforce has got several cloud platforms offerings and hence the user interface is its physical evidence. The physical evidence of its services is available through its offices, services which are used by customers and business houses, a website with different cloud-based services, customized apps, and customer care platforms.
Process:
Salesforce provides a web-based interface for companies and consumers to use their services. Once a customer signs up to their platform, the relevant services become available to them. These services are developed using state of the art technology. Currently, the company is invested in artificial intelligence and machine learning. This is now helping the company a lot more than before to come up with new insights and solutions to new age problems in business. This completes the marketing mix of Salesforce.
About Salesforce:
Salesforce is an American cloud computing company with its headquarters in San Francisco, California. It is one of the most valuable cloud computing companies in America. It has a market capitalization of over $60 billion.
Salesforce is a highly traded stock on the New York Stock Exchange. The company was founded in the year 1999 by Marc Benioff, Frank Dominguez, Parker Harris and Dave Moellenhoff.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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