That might not sound like a big difference, but each of those contracts is worth millions of dollars. Today, 61 of the Fortune 100 companies use Slack - which is impressive - but consider that 90% of the Fortune 500 are Salesforce customers. Margins are bigger, switching costs are higher, and there’s upsell opportunities galore (training, expansion, upgrades, etc). Needless to say, the enterprise is where the big bucks are to be made. The top 1% of Slack’s customer base (by contract value) accounts for 50% of Slack’s total revenue that’s ~$450 million alone ( source). Imagine the clarity that would bring to an organization and its employees. It’s a 360 degree view of the end-to-end customer journey.Ĭombined, Salesforce and Slack will be the all-in-one, source of truth for all of a company’s interactions: both external ones (customers) and internal ones (employees). The invoice / record-keeping from Finance (Stripe).The customer’s usage of the product (Looker).The Support tickets that the customer had (Zendesk).The tasks to complete the customer’s onboarding (Asana).The implementation questions they’d asked the Product team (Slack).The notes from their last call with them (Salesforce).The emails they’d sent to a prospect (Gmail).Imagine: in one, unified interface, a Sales rep could see: Well, the value proposition is the exact same the interactions are just with individuals outside of the organization. That’s the power of centralized internal knowledge and relationships. The relevant conversations you’ve had with their teammates (Slack).What projects they’re working on, and the status of them (Asana / Jira).What teams they’re on, and their roles (org.Who your co-workers are (background, interests, etc.In your onboarding, you could head to this re-imagined corporate directory to see: Imagine being an employee who has just joined a new company. The way we worked had shifted from writing emails, to writing posts, threads, comments, and reactions -spread across multiple channels. No longer was ‘work’, and everything it was comprised of - decisions, questions, action items - isolated in individual email inboxes it was spread across Google Drive, Confluence, Asana, etc. And it was no longer just messaging it was file sharing, collaboration apps, HR tools, metrics & reporting… and so on. We saw the advent of a unified communications platform, via channel-based messaging. That meant email was being used for: file sharing, to-do’s, collaboration, project management, and tons more. (And many still do!) So everything was always in one place. Well, traditionally, companies did all their internal communication over one channel - email. But what about a company’s own employees? Not to mention all the artifacts that these interactions were comprised of - documents, spreadsheets, presentations, etc. The reason CRM software (like Salesforce) was necessary in the first place was because a company’s interactions with its customers were spread across multiple channels: emails, phone calls, in-person meetings, conferences / tradeshows, etc. The process of a company managing interactions with its existing, past, and potential customers. Traditionally, CRM (customer relationship management) software has been about, well, managing one’s customers. In this post, I’ll dig into the three areas of opportunity that a Salesforce + Slack acquisition unlocks: So, why did Salesforce acquire Slack - and more importantly, why did Slack decide to sell to Salesforce? It’s clear this was not about ‘bailing out’ a company this was a strategic partnership to build the operating system for work. It’s a seismic move in the workplace collaboration space, which has surged with the rise of remote work and virtual communication. Earlier this week, Salesforce acquired Slack for $27.7 billion.
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