Salesforce has announced price rises for its products which will be effective from Augest 2023.The Salesforce products are going to see an average of 9% hike in their pricing across Sales Cloud, Marketing Cloud and Tableau.
Reasons for Price Hike
- Salesforce's previous list price adjustment occurred seven years ago.
- Continuous Innovation: Over the years, Salesforce has delivered 22 new releases, showcasing its commitment to ongoing improvement.
- Extensive Feature Additions: Thousands of new features have been introduced, enhancing the platform's capabilities.
- Generative AI Innovations: Recent advancements in generative AI have been integrated into Salesforce, enhancing its value.
- Significant Research and Development Investment: Salesforce has invested more than $20 billion in research and development to enhance its offerings.
Products & Editions to be Affected
- Professional Edition
- Enterprise Edition
- Ultimate Edition
New Pricing List
Prices are USD/user/Monthly (Billed Annually)
- Professional Edition: Complete CRM for any team size $80 Up $5
- Enterprise Edition: Customizable sales CRM for your business $165 Up $15
- Ultimate Edition: Ultimate CRM Power & Support $330 Up $30
Effective immediately, corresponding list price increases will also be implemented for Industries, Marketing Cloud Engagement and Account Engagement, CRM Analytics, and Tableau.
Market impact of the Price hike
- Salesforce dominates the CRM market with it's premium services.
- Salesforce could experience increased revenue & improved profitability.
- Customer retention & acquisition strategies may be affected.
- The market's response could influence other players' pricing strategies.
- Market share may fluctuate depending on customer & competitor responses.
- Customer perception of value & quality may be influenced.
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