Salesforce wants Salesforce+ be the Netflix for biz
Content

Salesforce wants Salesforce+ be the Netflix for biz Content

Salesforce closed an $28 billion deal to acquire Slack. This is a significant amount of debt, but not by spending large sums.

Today the CRM giant announced it was taking a leap into streaming media with Salesforce+, a forthcoming digital media network with a focus on video that, in the words of the company, “will bring the magic of Dreamforce to viewers across the globe with luminary speakers.” (Whether that’s a good thing or not is in the eye of the beholder.)

Over the last year, Salesforce has watched companies struggle to quickly transform into fully-digital entities. Salesforce purchased Slack as part of its response to changing markets. However, the company thinks it could do more by offering an on-demand video service that provides business content 24 hours a day.

Salesforce President and CMO Sarah Franklin stated in an official posting that the company had to “reimagine” how it can succeed in the digital-first age. This apparently involves bringing the entire Salesforce community together in a live and recorded video push.

In a Q&A with Colin Fleming, Salesforce’s senior vice president of Global Brand Marketing, he sees it as a way to evolve the content the company has been sharing all along. We looked at how people consume content and saw that white papers were not relevant anymore. The future is cookieless. We looked at Salesforce’s consumer market and thought, “Why don’t you think about that too?” He said during the Q&A.

These efforts by the company are significant. Axios reports that there are “50 editorial leads” aboard the project to help it launch, and “hundreds of people at Salesforce currently working on Salesforce+” more broadly.

Salesforce+ is not currently being monetized by Salesforce. This service is free and won’t feature any external advertising. In September, Salesforce+ will be launched in partnership with Dreamforce. It includes four channels: Primetime to announce news, Trailblazer to train content and Customer 360 to share success stories. Industry Channels are for specific industry offerings.

Salesforce hopes to drive curiosity by combing the Dreamforce announcement and Dreamforce. Salesforce+ will be able to enter new territory after the Dreamforce push. Salesforce+ will be entering interesting territory. Salesforce customers and larger businesses really need what Salesforce calls “compelling, live, on-demand content for all roles, industries, and lines of business” and “engaging stories and thought leadership.”

Salesforce is considered the most successful SaaS-first company in history, and as such may have an opinion that people are interested in hearing. The company’s most recent quarterly earnings report, May 2018, revealed $5.96 billion revenue. This is 23% more than the previous year and close to a 25 billion annual run rate. It also has a lot of cash. However, being cash rich doesn’t mean that this streaming venture won’t be costly to create with low returns.

This service is a little like your LinkedIn feed, except in video format. It’s the most comprehensive content marketing program of all time. But, can it pay its way as an advertising unit, or as a business unit?

Brent Leary is the founder of CRM essentials and principal analyst. He believes that Salesforce could be looking at advertising revenue through this venture, and it would tie in to its Salesforce platform. A customer can sponsor, promote, and collaborate with others on a show. You can track ROI and have the leads that are generated by the show tied directly to those activities. TechCrunch’s Leary said that the ads live on and continue to support their content.

It remains to be determined if that is the end goal. However, Salesforce has shown that Dreamforce content has a market demand at least in the physical realm. In 2019, Salesforce hosted a live event that saw over 100k participants. Although most conference activity has moved to the digital world due to the pandemic, Dreamforce content and other related content can still be accessed year round in video format.

It will be difficult to determine how company will justify such a large increase in its marketing budget. Measuring ROI from video products when they are not directly monetized isn’t easy. It will eventually have to either have a direct or indirect effect on the company or be subject to questions from shareholders about the reason for the venture.

Publiated at Tue 10 August 2021, 15:42.05 (+0000).

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