Salesforce Com Inc Stock Price, News & Analysis

Salesforce (NYSE: CRM) announced new appointments to its Board of Directors, effective March 1, 2023.

• Arnold Donald, former President and CEO of Carnival Corporation
• Sachin Mehra, CFO of Mastercard
• Mason Morfit, CEO of ValueAct Capital

This move is part of Salesforce's strategy for board refreshment aimed at enhancing leadership. Outgoing directors Sanford Robertson and Alan Hassenfeld will not seek re-election. CEO Marc Benioff welcomed the new members, highlighting their diverse expertise to foster continued growth for Salesforce, a company valued at approximately $150 billion.

Salesforce (NYSE: CRM) announced new innovations aimed at enhancing retail operations and customer engagement. By leveraging first-party data, the company's solutions help retailers like Casey's and Duluth Trading Co. create personalized shopping experiences. Notably, 65% of consumers remain loyal to brands that offer personalized services. Key offerings include Salesforce for Retail Media and enhancements to Commerce Cloud, which streamline operations and optimize advertising revenue. These innovations are positioned to drive efficiency and better meet evolving consumer expectations.

Salesforce (NYSE: CRM) analyzed holiday shopping data from over 1.5 billion online shoppers, revealing that global online sales reached $1.14 trillion during the 2022 holiday season. Retailers utilizing Buy Online Pick Up In Store (BOPIS) saw sales increase by 7X compared to those that didn't. Returns spiked 63% year-over-year, with 1.39 billion orders returned, accounting for 13% of total orders. Discounts averaged 21%, up from 19% in 2021, as retailers responded to consumer demand amid economic uncertainty.

Playvox has announced a collaboration with Salesforce to offer its workforce engagement solutions on the Salesforce AppExchange. This integration will benefit Salesforce Service Cloud customers by enhancing management of contact center operations, including forecasting, scheduling, and adherence, powered by Playvox's AI insights. Playvox's comprehensive suite is now accessible for improving efficiency and customer experience in digital-first contact centers.

Salesforce (NYSE: CRM) announced that Casey's General Stores has enhanced customer engagement and revenue through its CRM technology. By consolidating marketing efforts, Casey's sent over 1 billion messages to 5.5 million rewards members. Utilizing the Genie Customer Data Cloud, Casey's now manages over 13 million customer profiles, driving 30% of digital revenue from Salesforce-activated channels. Art Sebastian, Casey's VP, expressed confidence in future growth, highlighting improved internal efficiencies and customer connections. The partnership with Salesforce helped modernize Casey's brand and streamline operations.

Salesforce's Genie Customer Data Cloud, now powered by Tableau, enhances real-time customer data processing and insights. It processes over 100 billion customer records daily, enabling businesses to visualize and automate data-driven decisions. During Cyber Week 2022, Genie facilitated 43 billion customer engagements and ingested 1.1 trillion records. Customers like Formula 1 and Casey's report significant returns, such as 20x ROI and rapid data segmentation improvements. This integration aims to help companies deliver personalized experiences and streamline operations, driving revenue growth.

Apromore, a process mining software provider, successfully completed a Series B funding round, raising $10.3 million from investors, including Salesforce. This funding aims to enhance Apromore's product capabilities and expand its market reach. The partnership with Salesforce will improve sales and service process optimization through seamless connectivity and advanced process analytics using MuleSoft technology. This collaboration is set to address challenges in achieving operational excellence amid increasing customer demands.