Salesforce has established itself as a leader in corporate software. Salesforce has dominated the product categories in which it operates since its creation in 1999, due to continuous innovation mixed with predictive capabilities.
Salesforce's acquisition strategy has been a critical component of the company's extraordinary, world-renowned growth. Integrating these exciting "next-generation" technologies within the Salesforce platform for all clients to benefit from has elevated the CRM leader's reputation beyond that of a CRM supplier.
These acquisitions include Slack , Buddy Media, and Vlocity.
Slack is a collaboration platform that connects the appropriate people, information, and tools to get work done, but why is Slack such a great move for Salesforce? Slack may be the magical solution Salesforce has been seeking to help them realize their goal for social enterprise. Over the years, there have been versions of acquisitions, but none that have fully sealed the deal for Salesforce. We are currently riding the tsunami of remote working that has swept businesses worldwide. Salesforce is going deeper into the future and has created a number of products this year to help organizations adapt to the new normal.
Vlocity is a prominent developer of industry-specific solutions that is built locally on the Salesforce Platform. Why did Salesforce buy Vlocity? Because Salesforce has long recognised the need for industry-specific Clouds. Salesforce has established Financial Services Cloud, Health Cloud, and structured the majority of its consulting partners into industry specialties on their main platform. The 'cloud' product and knowledge seek to deliver an industry-specific, out-of-the-box solution (complete with third-party experience!).
Salesforce made an easy choice in acquiring Vlocity. Vlocity supplied templates that met the same significant sector gaps that Salesforce could not. Their target industries included communications, media, utilities, and others.
Buddy Media, a social media marketing tool, assists businesses in connecting with and maintaining relationships with customers.
Salesforce intended to offer social media management functionality when social media was taken seriously as a marketing channel for businesses. Salesforce saw a social networking tool as an intriguing move at the time. However, behind the scenes (and many people were unaware of this), social media interactions provided an extra avenue for Salesforce clients to communicate with their consumers across many business areas (consider how new social media service was back then!).
Reference : Salesforce Ben