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November, 2021

Salesforce Usage Mentions Suggest Retention

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Salesforce Usage Mentions Suggest Retention

Salesforce earnings have exceeded market expectations on its 2 past reports, sending shares higher post-earnings both times. Year-to-date, CRM shares have gained around +34% in value.
 
Now investors are wondering, can Salesforce maintain its momentum?
 
LikeFolio data suggests, yes it can — at least from a consumer perspective.
 
Consumer mentions of using a service under Salesforces’ umbrella, including Tableau, MuleSoft, and Slack, are on pace with 2020. Salesforce Platform usage mentions, specifically have increased +22% YoY.
From a volume perspective, the company’s legacy Customer Relationship Management platform (Salesforce CRM) dominates mention volume. But it’s worth noting that MuleSoft usage mentions are also showing serious strength, increasing +66% YoY.
 
At its core, MuleSoft helps businesses connect multiple streams of data to create a single view of a customer. As companies increasingly seek to leverage data,  across the board, it’s easy to see why this functionality would be so useful.
 
In addition, CRM consumer happiness levels remain extremely high for a software platform with this level of mention volume: 84% positive.
 
Consumer analysis suggests a learning curve when it comes to the platform…but loyalty once it is mastered.
So, what are we watching ahead of earnings?
 
From a benchmark perspective, CRM has delivered revenue growth of +20% in 5/5 of its last quarters. And usage momentum suggests the company is on track to continue this level of performance.
 
CRM will release 22Q3 earnings Nov. 30 after the bell.

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