Martech Growth Leads Salesforce Financials

San Francisco, United States - August 24, 2018: Outside Salesforce Tower in San Francisco, located at 415 Mission St. Salesforce is an American cloud computing company with headquarters in San Francisco, California.
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Salesforce’s Marketing and Commerce Cloud software suites are leading the company, recording a huge 36 per cent year-on-year revenue spike for the quarter ended 31 July, according to the company’s financial results.

The marketing cloud results outperformed the company’s overall financials, which saw revenue up 22 per cent over the same period.

Salesforce breaks down its revenue into four product groups; sales management, customer service, the Salesforce.com technology development platform and combined marketing and commerce software.

Although the marketing software showed the strongest growth, the biggest earner was the Sales Cloud where revenue increased by 11.9 per cent to $US2.20 billion ($3.25 billion).

“We see CEOs investing. And top of mind for them is digital transformation, which begins and ends with the customer,” said Salesforce chairman and co-CEO Marc Benioff.

Salesforce now has a 12 per cent market share in marketing technology according to Gartner, making it the second-ranking player in the field.

This is up from a seven per cent share the previous year.

The company has been making a concerted push in the space in recent times, earlier this year announcing its new customer data platform (CDP) as a way for marketers to create a unified profile of each customer and take personalisation to the next level.

 

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digital transformation Marc Benioff Salesforce

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