Salesforce Q1 FY24: Slowed Growth Should Alert Customers

Insights for IT Negotiations

Salesforce released their Q1 FY24 earnings, and while they did beat their previously forecasted revenue target, they reported their slowest revenue growth since 2010 and stated they expect this slowed growth to continue. Salesforce’s total revenue for the quarter was $8.25B, up 11%. Salesforce also reiterated full year FY24 total revenue guidance of $34.5B to $34.7B, which would represent 10% growth. In this podcast, our Salesforce Practice Leader, Adam Mansfield, discusses what to expect from Salesforce as they navigate customer sales cycles and renewal negotiations. Salesforce is going to be focused on pushing customers to adopt more products through aggressive sales pitches that bring together logical product portfolios for the customer to adopt. This will likely include a strong pitch centered around Salesforce’s “AI + Data + CRM” strategy and Industry Cloud adoption. He also shares his thoughts on what customers should do to appropriately prepare for Salesforce’s playbook and approach to ensure they don’t leave anything on the table at the end of their negotiations with Salesforce.