Study Finds That Brands Are Unhappy With Their CRM Software
Freshworks, a provider of cloud-based customer engagement software, has announced a Forrester Consulting study, “Riding The Next Wave in SaaS CRM,” which found that a majority of businesses are frustrated with their current SaaS customer relationship management (CRM) software and are currently making plans to replace these solutions.
“This study suggests that a massive shift in CRM market share is coming, and it will be quick and dramatic,” says Freshworks CEO Girish Mathrubootham. “Businesses of all sizes—particularly small and medium-sized organizations—realize they have been overspending on systems that over-promise and under-perform.”
According to the study, 56 percent of respondents say they will replace their CRM solutions within two years. More than 25 percent are already looking for more efficient, user-friendly systems that aren’t as costly and don’t require as many IT resources as systems currently dominating the market.
Adobe Acquires Marketo
Adobe has announced that it has entered into an agreement to acquire Marketo, the cloud platform for B2B marketing engagement. The acquisition will cost Adobe $4.75 billion and will be subject to customary purchase price adjustments. With nearly 5,000 customers, Marketo integrates planning, engagement, and measurement capabilities into one B2B marketing platform. Adding Marketo’s engagement platform to Adobe Experience Cloud will enable Adobe to offer a comprehensive set of solutions for delivering unique customer experiences to companies across all industries.
“The imperative for marketers across all industries is a laser focus on providing relevant, personalized, and engaging experiences,” says Brad Rencher, Executive Vice President and General Manager of Digital Experience at Adobe. “The acquisition of Marketo widens Adobe’s lead in customer experience across B2C and B2B and puts Adobe Experience Cloud at the heart of all marketing.”