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Salesforce (CRM) Enters Key Olympic and Paralympic Partnerships

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Salesforce (CRM - Free Report) recently announced key multi-year partnerships with Team USA, LA28 Olympic and Paralympic Games, as well as NBCUniversal.

Salesforce Customer 360 technology will be leveraged by the partnering organizations to enhance fan and athlete engagement across digital platforms over the next seven years.

The company will also sponsor NBCUniversal’s media coverage of Olympic and Paralympic Games from Tokyo 2020 through LA28, as part of the partnership. Salesforce technology will also be used by NBCUniversal to create Olympic and Paralympic fan communities.

Linda Yaccarino, Chairman, Global Advertising & Partnerships, NBCUniversal, noted, “Salesforce is a key partner in NBCUniversal's own transformation, and we're so excited to transform the next five Games together. For the next seven years, we'll combine fan engagement and content to deliver a personalized experience for every Olympic and Paralympic fan in the U.S. The biggest stage for athletes and brands is now the biggest engine of innovation.”

Significantly, Salesforce’s focus on building partnerships has not only helped it grab new deals but also expanded the firm’s operations internationally, which in turn is fueling its top-line growth. Partnership agreements with the likes of Alphabet (GOOGL - Free Report) , Amazon (AMZN - Free Report) , Microsoft (MSFT - Free Report) , International Business Machines, Apple, HP, Dell and others for its cloud services are boosting growth for Salesforce.

Moreover, Salesforce’s on-demand SaaS business model underscores its focus on sales force automation, marketing, customer responsiveness and support, improved personnel collaboration within an organization, software tools for developers, social media monitoring and marketing, and other social enterprise areas. The company has various SaaS applications and platforms to serve its focus areas. SaaS deployments are easy and help reduce ownership costs for customers. The company's ability to provide an integrated solution for customers’ business problems is the key growth driver.

Per a Market Research Future report, the global CRM software market is projected to reach $35 billion by 2023. With its SaaS-based CRM and social enterprise applications, we think that salesforce is well-positioned to lead the market.

Salesforce currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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