For the longest time, it was believed that Salesforce was limited to the marketing and sales sector of the industry. Salesforce has been in the market for more than two decades and has helped a plethora of organizations streamline their business processes on a daily basis. Its functionality is not limited to a few specific domains.
Instead, Salesforce proved its versatility by making a set of industry-specific offerings official. This set is known as Salesforce Industry.
What Is Salesforce Industry?
Salesforce Industry refers to a range of products launched by Salesforce to cater to the operational needs and preferences of different industries across the world. The purpose of the Salesforce Industry is to help organizations operating in multiple industries handle their records effectively, including healthcare, finance, communications, insurance, and more.
Salesforce Industry was launched soon after the CRM giant acquired a cloud-based industry-specific startup Vlocity in February via a $1.33 billion deal. Moreover, Salesforce has appointed David Schmaier, the founder and former CEO of Vlocity, as the new CEO of Salesforce Industries.
Salesforce Industry includes a range of products that are built on a single, unified, and scalable platform called Salesforce Customer 360. The platform is designed to help users create personalized journeys for their clients/customers and work on a single unified interface. The industry-specific solutions offered by the Salesforce offering allow users to drive digital engagement in industries where digitization is fairly new. With Salesforce Industry, organizations can help their employees save time and effort in undertaking specific tasks and attaining the desired objectives. Through Salesforce Industry, the company provides a total of 12 distinct products for helping different industries manage their operations effectively.
Major Offerings Of Salesforce Industry
The different offerings of the Salesforce Industry help organizations record, track, and analyze their records to streamline specific processes on a regular basis. These offerings are designed to leverage workflows, automate them, and provide organizations with the desired revenue. With Salesforce Industry, companies can avail themselves of tools that facilitate forecasting, service automation, analytics, and more.
According to Salesforce, businesses should operate on cloud-based platforms that “speak the language of their industry.” With Salesforce Industry, the CRM platform has extended its functionality to different industries to leverage their overall functionality.
Here are some of the major offerings of the Salesforce Industry:
Financial Services Cloud
As the name suggests, Salesforce Financial Services Cloud is a CRM platform that helps financial institutions streamline their business processes. It allows users to access real-time customer metrics such as purchase profiles, customer profiles, transaction history, and other relevant data. Financial Services Cloud is designed to help financial institutions build healthy and lasting relationships with their clients.
Ideal for organizations that provide financial lending and wealth management services, Salesforce Financial Services Cloud provides users with relevant insights about specific clients and their actions. This helps institutions provide personalized services to their customers adopt best-selling practices. The CRM platform also allows banks and other financial lending organizations to automate and track commercial lending processes. This ensures an organized approach to undertaking a range of different business processes using a centralized platform.
Moreover, Salesforce Financial Services Cloud uses AI for providing compelling opportunity management features to the users. This allows financial institutions to understand the needs and preferences of their target audience and provide personalized services to them.
The prominence and relevance of Salesforce Health Cloud have increased significantly over time. The CRM platform is designed to help hospitals, healthcare centers, and other institutions operating within the healthcare industry manage their databases and improve their operations. Being a HIPAA-certified platform, Health Cloud ensures the utmost security and privacy of data stored within the system.
With Salesforce Health Cloud, users can create personalized journeys for patients from the moment they are admitted to the hospital until they are discharged. It helps doctors and healthcare workers to obtain a 360-degree view of the patients they look after to provide them with quick and personalized assistance. By storing and managing electronic health records (EHR), Salesforce Health Cloud digitized multiple processes carried out by medical institutions on a day-to-day basis.
The CRM platform provides users with easy and holistic access to data like the patients’ appointment history, ongoing medications, health conditions, allergies, and much more on a centralized platform. The cloud-based platform doesn’t only help hospitals but can also be used by MedTech companies, pharmaceuticals, and medical device manufacturing companies.
Salesforce Communication Cloud is an automated platform that provides users with pre-built data models and communication capabilities for communicating seamlessly with B2C, B2B, and wholesale service providers. The platform comes with modular basic service sets (BSS) that are in sync with the telecom industry standards.
Salesforce Communication Cloud helps organizations launch personalized offers for their customers based on their specific needs and preferences on an immediate basis. It also uses AI to provide users with features that allow them to create and deliver personalized text messages and emails to get more traction. The service also includes tools for predictive analytics that allow the management to make better strategic decisions.
As the name rightly suggests, Salesforce Media Cloud is designed to cater to the needs of the media and entertainment industry. The platform eliminates the need for coding to develop business-specific applications and services by providing users with simple drag-and-drop tools. The Salesforce offering is built using the data models and UX specific to the media and entertainment industry.
Salesforce Media Cloud also helps organizations create and run targeted ad campaigns to reach out to their target audience using metrics like demographics, customer history, specific preferences, and more. This allows organizations to accelerate their marketing and sales processes, getting the traction they desire.
Moreover, the Media Cloud helps companies generate greater advertisement revenue by facilitating automated pricing, personalized discounts, and other business-specific features. With the help of artificial intelligence, the CRM platform allows users to predict customer behavior and obtain valuable insights from the data stored within the system.
Salesforce Philanthropy Cloud is built for connecting businesses to nonprofits around the world. It helps organizations undertake their corporate social responsibility in an organized and effective manner. The cloud-based platform helps users obtain insights based on the social impact of the organization and drive them towards holistic growth and development.
Salesforce Philanthropy Cloud allows the CSR and HR departments to organize and automate targeted fundraising campaigns and volunteering events. Irrespective of the scale at which an organization operates, the platform allows users to optimize the company’s philanthropic initiatives and help the entrepreneurs give back to society. Moreover, the Philanthropic Cloud allows users to manage company grants for specific CSR initiatives from a centralized platform. Users can also track the effectiveness and status of the ongoing campaigns by creating customizable reports.
Consumer Goods Cloud
This Salesforce offering is designed for businesses operating in the consumer goods industry to help users manage their valuable database. The CRM platform provides users with industry-specific tools to provide personalized support and services to the customers. Salesforce Consumer Goods Cloud is being used by companies dealing in a wide range of consumer products, including beauty products, personal care products, food, and more.
Moreover, the industry-specific CRM offering helps users manage their trade promotions and funds through valuable insights generated by the cloud-based platform. It also allows organizations to plan field team routes and obtain real-time tracking details to get necessary information about the latest developments.
Salesforce Education Cloud is a CRM platform dedicated to bringing the personalized needs of students, teachers, and staff members belonging to an educational institution under the same roof. It allows educational institutions to create personalized journeys of students, teachers, alumni, and anyone associated with them to undertake a range of different processes.
Salesforce Education Cloud can be used to store all data relevant to the students studying in an institution, from the day they are admitted until they turn into alumni. This allows the institution to be there for its students at different stages of their journeys and provide them with seamless assistance. The CRM platform also facilitates smooth communication between students and the management at all times. According to Salesforce, using the Education Cloud can improve the engagement of students up to 40% and staff productivity up to 80%.
Travel And Hospitality Cloud
This Salesforce Industry offering allows organizations operating in the travel and hospitality industry to keep a track of customer records to provide them with quick and personalized services. It provides users with data regarding the travel history and previous engagements of specific customers in a single dashboard to facilitate effective communication. Using the CRM platform, travel companies can reach out to their prospects and loyal customers with customized deals and offerings.
The Final Word
Salesforce Industry expands the functionality of Salesforce across almost all major industries operating in the world. With its various offerings, the CRM platform makes it possible for technical and non-technical users to manage their valuable customer databases and build healthy relations with the clients they cater to.