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Exam Code: Platform-App-Builder Practice exam 2023 by Killexams.com team Platform-App-Builder Salesforce Certified Platform App Builder The Salesforce Certified Platform App Builder exam has the following characteristics:
ABOUT THE SALESFORCE CERTIFIED PLATFORM APP BUILDER CREDENTIAL
The Salesforce Certified Platform App Builder credential is designed for individuals who
would like to demonstrate their skills and knowledge in designing, building, and deploying
custom applications using the declarative customization capabilities of the Lightning
Platform. The candidate can create, manage, and update data models, application security,
business logic, and process automation.
Here are some examples of the concepts you should understand to pass the exam:
Design the data model, user interface, business logic, and security for custom applications
Customize applications for mobile use
Design reports and dashboards
Deploy custom applications
The Salesforce Certified Platform App Builder credential is intended for an individual who
has experience developing custom applications on the Lightning Platform, including
practical application of the skills and concepts noted in the exam objectives below.
The Salesforce Certified Platform App Builder generally has six months to one year of
experience building applications on the Lightning Platform and/or on a similar technology
The Salesforce Certified Platform App Builder candidate has the experience, skills, and
knowledge outlined below:
Familiarity with the capabilities of the Lightning Platform.
Awareness of Salesforce license types and the related considerations.
Ability to design applications to support business processes and reporting requirements.
Familiarity with the social and mobile capabilities of the platform; accustomed to
using and optimizing business applications on a mobile device.
Familiarity with the Salesforce development environments and the options available
to deploy applications and manage changes on the Lightning Platform.
Study of the resources listed in this exam Guide and the additional required study
materials provided by Salesforce.
A candidate for this exam is not expected to be able to administer Sales Cloud or Service
Cloud, have programmatic development experience (Apex, Visualforce, etc.), design custom
interfaces using Visualforce, or design custom Lightning components using Apex or
The Salesforce Certified Platform App Builder exam measures a candidates knowledge and
skills related to the following objectives. A candidate should have hands-on experience
developing custom applications on the Lightning Platform and have demonstrated the
application of each of the features/functions below.
Describe the capabilities of the core CRM objects in the Salesforce schema.
Given a scenario, identify the boundaries of declarative customization and the use cases for programmatic customization.
Identify common scenarios for extending an org using the AppExchange.
DATA MODELING AND MANAGEMENT
Given a scenario, determine the appropriate data model.
Describe the capabilities of the various relationship types and the implications of each on record access, user interface, and reporting.
Identify the considerations when changing a field's type.
Given a set of requirements, identify the considerations and select the appropriate field type.
Describe the capabilities and considerations of the schema builder.
Describe the options and considerations when importing and exporting data.
Describe the capabilities of and use cases for external objects.
Describe the features and capabilities available to restrict and extend object, record, and field access.
Given a set of business requirements, determine the appropriate sharing solution.
SALESFORCE CERTIFIED PLATFORM APP BUILDER
BUSINESS LOGIC AND PROCESS AUTOMATION
Describe the capabilities of and use cases for record types.
Describe the capabilities of and use cases for formula fields.
Describe the capabilities of, use cases for, and implications of roll-up summary fields.
Describe the capabilities of and use cases for validation rules.
Describe the capabilities of and use cases for approval processes.
Describe the capabilities of and use cases for workflow, visual workflow, and Process Builder.
Given a set of business requirements, recommend a solution to automate
Describe the ramifications of field updates and the potential for recursion.
Describe the capabilities of and use cases for social features.
Describe the user interface customization options.
Describe the capabilities of and use cases for custom buttons, links, and
Describe the declarative options available for incorporating Lightning
Components in an application.
Given a scenario, determine the appropriate user interface design.
Describe the features and capabilities available when creating reports,
report types, and dashboards.
Describe the declarative customization options available for the Salesforce
mobile application user interface.
Given a set of requirements, determine the appropriate global and objectspecific actions and action layouts to optimize the Salesforce mobile
application user experience.
SALESFORCE CERTIFIED PLATFORM APP BUILDER
Describe the key milestones and considerations when managing the application lifecycle.
Describe the differences between and considerations when using the various types of sandboxes.
Describe the capabilities of and considerations when using change sets.
Describe the use cases of and considerations when using unmanaged packages.
Given a scenario, determine the appropriate deployment plan. Salesforce Certified Platform App Builder Salesforce Salesforce exam Questions Killexams : Salesforce Salesforce exam Questions - BingNews
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https://killexams.com/exam_list/SalesforceKillexams : Salesforce Change Management: 6 Tips to Simplify it
In the ever-evolving landscape of business technology, adapting to change is no longer a choice — it’s a necessity. And when it comes to managing those changes seamlessly, Salesforce stands tall as a powerhouse. However, navigating the intricate realm of Salesforce Change Management can often leave even the most seasoned professionals scratching their heads.
We unveil six invaluable tips that promise to unravel the complexities, making the process not just manageable, but downright straightforward. Whether you’re a salesforce novice or a seasoned pro, these insights will empower you to wield change as a tool for growth, without breaking a sweat.
Clear Change Identification and Prioritization
Before embarking on any salesforce changes, it’s essential to meticulously define the scope and objectives of the proposed modifications. This involves a detailed analysis of the current system, identifying pain points, and recognizing opportunities for enhancement. Once potential changes are identified, a rigorous prioritization process should be employed.
This prioritization should be based on factors such as the anticipated business impact, alignment with strategic goals, and feasibility of implementation. The impacts of any change should be thoroughly evaluated, considering both short-term and long-term consequences. This includes assessing potential disruptions to existing processes, workflows, and user experiences, as well as estimating the financial, resource, and time investments required for successful implementation.
Successful salesforce change management thrives on collaborative efforts across diverse departments. Forming a dedicated change management team comprising representatives from different functional areas fosters a holistic approach. Involving stakeholders early in the process ensures that all perspectives are considered, mitigating resistance and enhancing buy-in.
Open communication channels must be established to facilitate idea sharing, status updates, and issue resolution. This collaborative synergy not only promotes comprehensive change planning but also empowers a sense of ownership among stakeholders. By uniting expertise and insights from various disciplines, organizations can navigate change with collective strength and drive more successful implementations.
Comprehensive Change Documentation
Thorough documentation is the backbone of effective salesforce change management. Detailed records of change requests, requirements, and implementation plans ensure a clear roadmap for all involved. A well-maintained repository of version-controlled documentation facilitates transparency, aiding in tracing the evolution of changes and reducing confusion. This meticulous documentation also supports knowledge transfer, enabling seamless onboarding and continuity.
By meticulously capturing every step and decision, organizations establish a reliable foundation for change, ensuring that stakeholders remain informed and aligned throughout the process. Robust documentation safeguards against uncertainties and serves as a valuable resource for future enhancements.
Thorough Testing and Quality Assurance
Rigorous testing and quality assurance are cornerstones of successful Salesforce change management. Crafting comprehensive test plans and scenarios allows for the meticulous examination of new configurations and functionalities. User Acceptance Testing (UAT) involving end-users validates the changes from a practical standpoint, ensuring they meet user needs and expectations.
Addressing any detected bugs, performance issues, or discrepancies during testing guarantees a smoother transition. A robust testing phase minimizes post-implementation disruptions and fosters user confidence. By prioritizing quality assurance, organizations fortify their change management process, delivering dependable solutions that align seamlessly with business objectives.
User Training and Support
Empowering users through effective training and ongoing support is pivotal in salesforce change management. Developing comprehensive training materials, including guides and tutorials, equips users with the knowledge to navigate new features and processes. Conducting engaging training sessions and workshops enhances user proficiency and fosters a positive transition experience.
Providing accessible avenues for user support, such as help desks or forums, ensures timely issue resolution and knowledge sharing. Prioritizing user training and support cultivates user confidence, reduces frustration, and promotes efficient utilization of the salesforce platform, ultimately contributing to the success of change initiatives.
Effective Change Rollout and Monitoring
A well-executed change rollout and vigilant monitoring are pivotal to salesforce change management success. Careful planning of controlled rollouts or pilot launches ensures gradual adoption and minimizes disruption. Monitoring user adoption, feedback, and system performance provides valuable insights into the effectiveness of implemented changes. Iterative improvements based on real-time data help fine-tune configurations and address evolving needs.
This proactive approach guarantees that the change’s impact aligns with expectations, promoting sustained user satisfaction. By maintaining a watchful eye on the ongoing change process, organizations can swiftly adapt, optimize, and enhance the Salesforce environment, driving long-term success and continuous improvement.
Simplifying Salesforce change management is a multi-faceted endeavor that demands strategic planning, collaboration, documentation, testing, training, and vigilant monitoring. By adhering to these key principles, organizations can navigate transitions with clarity, engage stakeholders effectively, and ensure seamless system enhancements. Embracing change as an iterative process allows for agility and continuous improvement, leading to a Salesforce environment that not only meets current needs but also lays a solid foundation for future innovation and success.
Sun, 13 Aug 2023 23:03:00 -0500en-UStext/htmlhttps://pctechmag.com/2023/08/salesforce-change-management-6-tips-to-simplify-it/Killexams : How HVACDirect.com Keeps Customer Connection a Top Priority
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Wed, 09 Aug 2023 11:08:00 -0500en-UStext/htmlhttps://www.usatoday.com/story/special/contributor-content/2023/08/09/how-hvacdirect-com-keeps-customer-connection-a-top-priority/70562965007/Killexams : Meet “Watson,” the AI Chatbot Answering Coronavirus Questions
For many organizations, the COVID-19 epidemic has halted business in its tracks. But there are companies and groups big and small that have found ways to keep going—to keep their workforces employed and engaged, and keep their customers equipped with what they need. In Rising to the Occasion, we’re taking a look at how organizations can make big pivots quickly, and the tools that help them pull it off.
In this time of uncertainty, people want answers; but the huge influx of information requests can quickly drown customer service teams.
“Many industries are in a state of emergency when it comes to serving customers,” said Matt Candy, Global Lead for IBM iX. “COVID-19 has impacted most if not all businesses in unprecedented ways, and customer service centers are suffering. Due to increased demand, teams that used to reply in minutes are now taking hours.”
One source of relief for government agencies, healthcare organizations, and academic institutions is coming from IBM’s Watson Assistant for Citizens. Watson Assistant for Citizens is an assistant with artificial intelligence that can understand and respond to common questions about COVID-19 on its own. The tool, which is free for 90 days, leverages current data like guidance from the CDC and local sources, such as links to school closings, news, and state updates.
Organizations can also choose to customize the solution to address questions specific to their area or region, including: “What are cases in my neighborhood?” “How long are schools shut down?” and “Where can I get tested?”
For IBM customers that utilize the power of the Salesforce platform, adding AI service has been ground-breaking.
“Education in particular has been thrown for a loop,” said Candy. “Technology has enabled classrooms to still serve their students online, but most schools are not set up to have a customer service center to answer the inundation of student and faculty questions.”
La Trobe University was the first Australian customer to deploy Watson Assistant for Citizens. They partnered with IBM and Salesforce last throughout 2019 and 2020 to re-invent the research management process for academia and knew that Watson Assistant for Citizens would be another game changer.
As lockdowns spread across Australia, La Trobe University worked with IBM to launch a chatbot to answer frequently asked questions about the virus’ symptoms, state and federal restrictions, and the status of the University. The chatbot is available on their website for all staff, faculty, and students to utilize for the latest details on COVID-19 and specific impacts for the La Trobe student community.
The University of Arkansas for Medical Sciences also implemented the solution, in just nine days. They deployed a virtual agent so citizens could get their questions about testing, symptoms, and resources answered quickly. Information is automatically sent to a mobile COVID-19 triage clinic to increase the speed of response. Average registration time has been slashed by 50 percent for those using the solution.
“By resolving simple requests through chatbots, customer service teams are freed up to take on more complex or sensitive requests,” said Candy. “This is so important when information is changing by the minute. Responding with relevance, speed, and service continuity is the best service organizations can provide in this time of crisis. Salesforce already offers an amazing platform for customer service, and we are thrilled to add on this powerful AI tool.”
IBM is offering Watson Assistant for Citizens for no charge for at least 90 days and will assist with initial set up, which can typically be done in a few days. The initial solution is available in English and Spanish and can be tailored to 13 languages. The offer includes access to 15 pre-trained COVID-19 “intents” or queries. “Intents” are purposes or goals that are expressed in a customer’s input, such as answering a question. By recognizing the intent expressed in a customer’s input, the Watson Assistant service can choose the correct dialog flow for responding to it.
At Salesforce, taking care of one another is our first priority. We developed Salesforce Care, a set of free rapid response solutions, to help companies stay connected to their employees, customers, and partners right now. Since launching, more than 3,700 companies from 47 countries have signed up. Visit salesforce.com to learn more.
Sun, 03 May 2020 08:57:00 -0500entext/htmlhttps://www.theatlantic.com/sponsored/salesforce-2020/IBM/3391/Killexams : Interview with Splunk CEO Gary Steele
iTWire. I'm assuming you're not hugely technical. So most of my questions are going to focus more on leadership and management and your role in the company. With that in mind, what do you bring to the role of CEO at Splunk?
Steele. I joined Splunk after 19 years in a company that I co founded that ultimately reached a billion and a half in revenue. So I come with a lot of cyber experience and enterprise experience and understanding of how to run public companies. So I think that the experience capability that I bring is, a helpful responses out of maturity.
iTWire. So with that in mind, what's your leadership style?
Steele. I'm direct, transparent, and I think I'm a good communicator.
It's interesting, one of the things that I've implemented in the company when I joined is, because the company got through a bunch of change, we do a weekly town hall with people every week. My goal is simply make sure that people feel they are connected to what's happening, the decisions that are being made, that there's a level of understanding for why we're doing what we're doing and how they can play part of that. And so in a time of a lot of change, which we have a lot of change prior to me joining the company, it was really important to provide people a sense of stability and understanding where it didn't feel that way. So my style is just super-transparent and I'm really clear about priorities. I put the customer first I think the one thing that I observed when I joined was that we had an amazing culture, the company's culture was amazing, but the customer wasn't at the centre of the culture. I think we've made that transition. And I don't think that was hard actually, that feels very natural for the average employee to pick this up. But I think this kind of makes sense.
iTWire. This kind of loops back to my question from the meet-the-press session yesterday of looking for the company's 'true north'. I probably expected something a bit more philosophical but your whole 'the customer....'
Steele. It helps drive the decisions I make.
iTWire. Can we dig a bit deeper into your background.
Steele. Prior to Splunk, I spent 19 years at Proofpoint so I was part of that that founding team basically grew from zero from concept all the way through to ultimately the sale of the company. We were public since 2012, so I had lots of opportunity running a public company. Prior to that, I had run another private startup company called Forterra. And I did that from basically 98 to 2001. And then we ultimately sold the company to another private company. And then prior to that I was a general manager at a software company, Sybase which is now part of SAP. So that was my first general manager job at Sybase when I was running their data warehousing and middleware teams. Prior to that I had a range of marketing roles at Sun Microsystems in the era where Sun was really relevant and prior to that I started my career at HP primarily in a technical role as a developer.
iTWire. Yeah, I started programming as well. But I realised very quickly I'm a competent programmer, but not a good one.
Steele. Yeah, I made the decision very early on that I didn't want to grow up in R&D, and I felt like [inaudible] there are opportunities to be in other places where you shape product and strategy. I felt like being on the product management / product marketing side was a more strategic spot to be.
iTWire. So having resolved the core of the company onto the customer, what's you major challenge at the moment.
Steele. I think we've made a tremendous amount of progress in the last year but there's still more work to be done. I think our pace of innovation has improved. We still have more work to do there. I think we can continue to strive to do a better job for our customers, but there's still more work to do there. And we're in a markets that's fast moving we need to continue to stay out in front of where the markets headed to be and really meet the market where we can take it.
iTWire. Moving on to the company, what attributes do you admire most in or value highest in a Splunker?
Steele. In hiring a Splunker?
iTWire. Current, or hiring, either, I don't mind.
Steele. I think, the one thing that has been amazing here is just the passion for the product and the technology. We have that inside the company. We see it here at the user conference. Really unique and really amazing... and finding that in future employees as well. And then we obviously need employees that can help us on that journey of continued innovation; people who are super thoughtful and creative. They see things in a unique way that ultimately gives us opportunity to deliver more value for our customers.
iTWire. I see that Splunk is the kind of company that would attract those people. And that's obviously something you need to keep doing. You do attract those people.
So you're not particularly hands on at the product levels. I'm assuming your main focus is more road-map.
Steele. Yeah, I mean, we have 8000 employees, approximately. So we have a little leeway. I spend more of my time thinking about what should we be investing in? Where should the company be headed? How do we ensure that we're delivering our commitments for our shareholders? Thinking about what the financial picture of the company should look like. As we mentioned earlier, really pushing for this balance of growth and profitability, which isn't always easy to achieve, that is not something that company has been focused on prior to me joining. So we're having that opportunity to really shape what the financial should look like over a period of time.
iTWire. Yes, because once you start thinking about a new product line, then that means dollars pouring into it... and eventually, it'll come good but for a little while, it hurts to...
Steele. Yes, you have to figure out to deal with the things that you want to go to.
iTWire. To change direction a little, who do you admire in the business world?
Steele. I think I just take examples from companies that have delivered great innovation over a long period of time. You know, you can see it all over the place where you look at the leadership that Salesforce established for example, and what Benioff did with a great run in the cloud. What Microsoft has done under Satya's leadership, and the focus on the cloud and how they deliver for the customers I think is there's lots to be learned there. And then I admire people that drive innovation, and so CEOs of younger companies that are doing cool things. All that's interesting.
iTWire. So is there anybody in particularly that you derive inspiration from?
Steele. I don't think there's any single person that factors into that. I just look at a broad range of people and how they inspire me to do different things.
iTWire. so you're not an avid reader all the latest business publications.
Steele. I read some of it I don't read all of it. I'm much more of a 'read current news,' what's happening from a tech perspective... stay current that way, versus going back in time practicing lots of nonfiction books about people.
iTWire. So you're very internally driven.
Steele. Actually, I wouldn’t say that.
iTWire. That's where I got to in regard to with what you were saying.
Steele. No, I spend tons of my time with customers, with our sales organization, with our investors. So when I joined I meant to meet 100 Customers in my first one hundred days, which is a really big number but that pace is intense, I spend a lot of time... because I think it's really important not to have all that information filtered to you. You look directly at the customer and understand how they're feeling about what you're delivering and how you can improve. So I spend a lot of my time on this.
iTWire. No, I'm thinking more about the motivation rather than the source of information.
Steele. I kinda get motivated by customers too with how they're using the product.
iTWire. So, where do you see Splunk the next five years, 10 years 20 years?
Steele. I think the destination around helping our customers build digital resilience is a long journey. There's lots of work to be done there. I believe we're incredibly well positioned, given our strengths across security and observability to help customers achieve great outcomes. I believe that there's a whole innovation cycle here to help make it simpler to achieve all that - it shouldn't be as hard as it is today. And many of the things that we talked about here [at .conf23], play a role in that, whether it be our AI announcements, because we're going to see the world get a lot more efficient and how they do their jobs, to things like HR where we're giving people visibility into areas they never have visibility into. Those are all factors in how do we ultimately help in this digital resilience journey. The great thing about Splunk is we have an amazing volume customers who want to do more with us. I think there's this opportunity for long term global growth to get us beyond where we are revenue wise to 5 billion to 10 billion and beyond in terms of recurring revenue.
iTWire. So, out of those 5, 10, 20 years, how many of those will you be at Splunk?
Steele. I'm a guy that has long tenure in the companies that I've been at. So you know, I see myself being here for a very long time.
iTWire. At some point, the board will say “we've had enough!”
Steele. Yeah, I think at some point you need to also be self critical. When is the right time to turn the reins over to someone else? Not that age is a big issue, but I'm not the youngest person in the room - maybe that matters at some level.
iTWire. So what do you enjoy most about the role?
Steele. For me, I love all of our customer interaction and the opportunity to match that with innovation. And I love leadership and management, a lot of people don't like; I actually love it.
iTWire. We've seen the bones of that whole simplification process in the keynotes. So I'm guessing there's still a long way to go, because we still have very disparate tools various control panels bringing it together. So I'm assuming you're expecting that to coalesce a lot better.
Steele. Mission Control really that single work surface. There's always more work to be done. Because we gotten into the durability world through a set of acquisitions. We've made tremendous progress really, really great deals. Getting named as a leader in the Gartner Magic Quadrant all abounds with validation of that.
iTWire. But watching the keynote it looked to me as though there were some joining gaps. It didn't seem as seamless as I would like.
Steele. But I think it really comes down to does the workflow work well? I think that's the critical thing. I think we've really focused on how do we Boost that user experience, which I think we've done a really good job of.
iTWire. So, why did you get into hardware? [referring to the Edge device]
Steele. I think it's actually simple. It's really driving a software opportunity for us. So how do we bridge this gap where OT has been its own world of itself? So for a long time it's just a separate thing. And in reality, in this digital resilience world, all these things have to be interconnected. We can't live in a world where all of that separated. There's been a bunch of trends, I think one is Chief Information Security Officer is now responsible for OT and they have to do something and they have to be able to draw that connectivity, but to see the entire environment because you have a threat actor - that that's the way they enter. Separate from that I just think there's there's been so much data that people haven't been able to see that can ultimately Boost the economics of businesses or can you field fundamental business outcomes that are different because of that disability? Well, hardware was a vehicle to fix a problem that was complicated, the value that we're deriving from the software.
iTWire. When I was here at .conf19 I did see the beginnings of that. A little tiny stand, off in the corner.
Steele. Know that we did test it for a long time.
iTWire. Yeah, because the OT guys are terrified of IT, when they say, “oh, you've got Windows [whatever version], we need to update it.
Steele. The rate of updates such as this is a problem.
iTWire. And the worst thing is a lot of the configurations are type-approved. You cannot change it and that's particularly true in health.
Steele. Oh, ‘Health’ is a whole [inaudible]. Just walk around an operating room and see the amount of windows [there]. Scary!
iTWire. Some of the applications have to run 10, 20 30 years and they can't be changed. “...and we need to shut your Windows PC down for a patch and that will stop the plant.
So that's that's the whole challenge. And then it's a major reason why OT are terrified of IT. Of course, IT starts coming in with the attitude, “It's got lights, it must be ours.”
Steele. Right. There've been territorial boundaries for a long time.
iTWire. OT has approached IT to a certain extent moving into things like MES and Historians and that kind of software. So there has been a certain egress of data from from the plant floor, but it's been like pulling teeth.
Steele. Yes, it’s pretty limited and the protocols are different, and there's a whole bunch of things that make it hard.
iTWire. The protocol differences are to a certain extent, quite deliberate.
The guys down on the exhibition floor were telling me that the box is slowly going to support more and more factory protocols. The problem is, there’s lots of them.
iTWire. Let’s go to ‘buildings,’ you need BACnet, let’s go to the plant floor, you need Profinet or Modbus.
Steele. Of course.
iTWire. That’s all I’d planned to talk about. So unless you had anything else to say, I’d like to thank you for your time.
Steele. Thank you. It's a pleasure.
The author attended .conf23 as a guest of Splunk.
Tue, 15 Aug 2023 20:39:00 -0500en-gbtext/htmlhttps://itwire.com/it-people-news/enterprise-staff/interview-with-splunk-ceo-gary-steele.htmlKillexams : Salesforce Pricing: How Much Does Salesforce Cost in 2023?
Salesforce pricing starts at $25 per user, per month for its Sales Cloud and Service Cloud platforms, with more expensive plans getting as high as $330 per user, per month. These monthly fees will vary depending on the needs and scale of your business. The difference between the above two figures is startling, so the smartest move you can make is to get a direct price quote from Salesforce for how much Salesforce will cost for your exact business needs.
You can also use our CRM quote comparison tool to receive quotes from a range of CRM providers, in addition to Salesforce. It's worth noting that, in August 2023, Salesforce changed its pricing across most of its prominent plans, increasing most plans by an average of 9% each. Luckily, the $25 per user, per month plan was unchanged, but more expensive plans did see an increase.
The most popular Salesforce platform is the Sales Cloud, which is why we've outlined this in the table below. Scroll down for all of Salesforce's plans and pricing information, including Sales and Marketing solutions.
File storage: 1GB Data storage: 10GB + 20MB per license
File storage: 10GB + 2GB per license Data storage: 10GB + 20MB per license
File storage: 10GB + 2GB per license Data storage: 10GB + 20MB per license
Filestorage: 10GB + 2GB per license Data storage: 10GB + 20MB per license
Salesforce's most expensive solutions are its robust marketing automation platforms. Prices for this come in at between $1,250 per month and $15,000 permonth, so you can see the price tag can vary wildly depending on exactly what you're looking for.
Worried about how much Salesforce will cost your business? Compare price plans in a few simple steps with our custom quote tool.
Salesforce CRM Pricing
When it comes to determining the best price your business can get for Salesforce, or any software, the most important thing is to understand which pricing plan is sufficient for your exact business needs so you're not overpaying for features you won't use.
That’s why we’ve created our unique quote matching tool – it takes seconds to fill out but can save your business time and money. Last year, we helped thousands of businesses like yourself find the right services and products. Fill in a few quick questions about your business and we'll match you to the best solution.
Keep scrolling to work out for yourself which Salesforce price plan might best meet your needs. We'll look at Salesforce's costs for each tier and product. Plus, help you decide if this Salesforce is the right CRM system for your company, or if an alternative might offer you better value.
Since our last update...
For the first time in more than seven years, Salesforce has increased its prices on the majority of its popular plans, with the changes effective from August 2023. The Professional, Enterprise, and Unlimited plans all saw an average increase of around 9%, while the Starter plan fortunately stayed at the competitive $25 per user, per month.
What's the reason for the increase? According to the official Salesforce press release, it's because the company has substantially increased its generative AI offerings, including AI Cloud, Einstein GPT, and Sales GPT and Service GPT. As a result, the platform has increased prices to make up for the increased functionality of Salesforce as a whole.
Salesforce Pricing Plans
Salesforce divides its various services into what it calls “clouds.” Unsure about what service your business might need? Tired of the ambiguous pricing models of business software? We get it – comparing the different pricing plans is confusing and it can be extremely costly should you get it wrong. If you want to save time, you can join the dozens of other businesses who have used our quote-finding form and get matched to a pricing plan much quicker this way.
Sales Cloud Costs – from $25 per month, is the company's basic CRM system; it includes all the basics you need for client management, including client records, lead tracking, deals, notes, and more.
Service Cloud Costs – from $25 per month, allows for online customer service on any device, and the ability to integrate customer service data with client records in other Salesforce clouds.
Salesforce Quip Pricing – from $100 per month, this collaboration platform helps ease the transition to remote work.
Sales, Marketing, and Service are the primary clouds Salesforce offers. Beyond that, the company has a variety of other services, including a development platform for building Salesforce-powered apps, online forums connected to CRM data, and more.
For those just starting out, however, Sales Cloud is the place to start.
For pricing, Salesforce offers a wide variety of pricing levels. Essentials is for teams of five or less and applies only to the Sales and Service clouds. As you go up in pricing tiers, Salesforce becomes more customizable and adds higher levels of support.
There's also Lightning Professional, Lightning Enterprise, and Lightning Unlimited. The Lightning suite of services all use a different user interface than the classic versions of these plan tiers but offer the basically same features (albeit with a few new productivity tools).
You can read more about the Lightning services here. Ultimately, while the “Lightning” name can be a little confusing, the services it offers are just a mildly revamped version of the services we discuss here and come with the same benefits and price tags.
The Sales Cloud is the standard Salesforce software. The main features will allow every employee in a company to easily manage their accounts, contacts, leads, and opportunities, all from a single interface. It's also one of the few CRM options that allows for sales forecasting functionality across all its pricing plans. AI-powered tools and customizable templates can further streamline and automate daily chores, cutting down on costs and helping agents focus on what matters.
Each of the four tiers offers more features and functionality than the last. Sales Essentials costs $25 per user,per month; Lightning Professional is $80 per user, per month; Lightning Enterprise is $165 per user, per month; and Lightning Unlimited is $330 per user, per month.
It's worth noting that the Unlimited plan is where you can unlock the built-in AI features, which provide in-depth lead and opportunity scoring, as well as insights into customer interactions and deal health at your business.
As is often the case, the closest competitor to Salesforce Sales Cloud is the HubSpot Sales Hub, which offers many of the same features at a slightly lower price (starting at $23 per user per month). You are required to have at least two users though, so starting price is actually a minimum of $45 per month.
Salesforce is a good option, but it isn't the best CRM for sales, according to our research. That honor goes to Zoho CRM, which offers lots of features but at a reasonable price point that won't scare off smaller businesses. Salesforce does, however, offer some of the most robust sales dashboards on the market.
File storage: 1GB Data storage: 10GB + 20MB per license
File storage: 10GB + 2GB per license Data storage: 10GB + 20MB per license
File storage: 10GB + 2GB per license Data storage: 10GB + 20MB per license
Filestorage: 10GB + 2GB per license Data storage: 10GB + 20MB per license
Salesforce Service Cloud Costs
Service Cloud is a key part of Salesforce's products. It's a fully functional customer service platform that integrates seamlessly with Salesforce, putting your customer data at the fingertips of all those in your company that need it.
The Community 360 feature, for example, allows customer service agents to see if your clients have looked for help already on your website or filed any support tickets. This helps the agents get a better picture of what's going on with any given client.
With Service Cloud, Salesforce says you can reach any customer on any device to meet their needs as they arise.
The costs for Service Cloud are the same as for the Sales Cloud. Essentials is $25 per user, per month, Lightning Professional starts at $80 per user, per month, Lightning Enterprise costs $165 per user, per month, and Lightning Unlimited starts at $330 per user, per month.
The availability of Einstein AI features is relegated to the Enterprise plan and Unlimited plan only. Additionally, the functionality will cost extra, running businesses an additional $50 per month for advanced analytics and smart service features.
While Salesforce Service Cloud is a respectable option when it comes to customer support platforms, our research showed that Zendesk is actually the better option, depending on your needs. It's more affordable, easier to use, and allows support across virtually every channel you can imagine, whereas Salesforce is missing some, like phone support.
Read our full Salesforce vs Zendesk comparison here.
Website Live Chat Comms Channel
Requires Telephony Integration
Requires Telephony integration
Requires Telephony Integration or Service Cloud Voice Add-on
Yes – but limited to 1 license
Yes (Maximum of 2).
Yes (maximum of 2)
Yes (maxium of 2)
Yes (maximum of 2)
Internal knowledge base
Unified Case Queue
Manual Ticket Routing
Int. knowledge base
Unif. Case Queue
Manual Ticket Routing
Int. knowledge base
Unif. Case Queue
Manual Ticket Routing
Int. knowledge base
Unif. Case Queue
Manual Ticket Routing
Salesforce Marketing Cloud
Salesforce also offers a Marketing Cloud, which is made up of a wide range of different platforms, each with their own set of pricing plans. For the average business, there are two platforms that our research shows are the best fit for you: the Marketing Cloud Engagement platform and the Marketing Cloud Account Engagement platform.
As for the difference between the two platforms, Marketing Cloud Engagement is intended for B2C businesses whereas Marketing Cloud Account Engagement is intended for B2B businesses. The difference in the max number of contacts per plan is the key indicator here because Marketing Cloud Account Engagement has a lot less contacts allocated to customers as B2B businesses have less need for a huge library of customer details.
Read on for the pricing information about each of these two Marketing Cloud platforms.
Salesforce Marketing Cloud Engagement Costs
The Marketing Cloud Engagement platform is Salesforce's one-to-one marketing platform, which integrates with other Salesforce “clouds” for a more complete understanding of your customers' history.
The idea with Marketing Cloud Engagement is to meet your customers wherever they are. You can use Salesforce's platform to send out marketing emails, advertise to them online, send them mobile alerts, and encourage them to land on your e-commerce pages.
Salesforce says this can all happen at scale, giving your customers a more personalized experience without handcrafting every single message that goes out the proverbial door.
Marketing Cloud Engagement's pricing is a little more expensive than the Sales and Service Clouds. It offers three distinct plans: Pro, Corporate, and Enterprise. The Pro plan costs $1,250 per month, and the Corporate plan rounds it out at $3,750 per month. The Enterprise plan requires you to contact Salesforce to get a quote.
For the best AI-powered results, you'll need to subscribe to the Corporate or Enterprise plans, as the Pro plan does not have AI functionality built in. With these features, you can supercharge your marketing campaign with smart insights to reach and convert customers.
In our research, we found that Salesforce Marketing Cloud Engagement platform isn't the best CRM for marketing, particularly if you're thinking about price. It's very expensive and outside of extensive data visualizations, doesn't offer as much as our top pick, HubSpot Marketing Hub. With this robust option, you'll be able to take care of all your marketing needs from a single hub, including email, social, content, and paid. It's also quite expensive, but at least you're getting a lot of bang for your buck.
Salesforce acquired the marketing automation service Pardot in 2012, and now offers it as an add-on for Salesforce users. Formerly known as Salesforce Pardot and now referred to as the Marketing Cloud Account Engagement platform, the service streamlines a marketing team's daily and long-term tasks, from automating all the simple chores to sending custom alerts that can jog agents' memories to ensure they follow up on all of their clients' needs.
Marketing Cloud Account Engagement offers an impressive range of features in four main marketing categories: lead generation, thanks to tools covering lead tracking, email, social media, landing pages, and A/B testing; lead management, due to custom-designed engagement and nurturing programs; sales alignment, with tools including customer activity tracking, campaigns, and CRM integration; and, finally, ROI reporting, with metrics tracking tools that cover the whole sales funnel.
Salesforce Marketing Cloud Account Engagement comes in four plans — Growth, starting at $1,250 per month; Plus, starting at $2,500 per month; Advanced, starting at $4,000 per month; and Premium, starting at $15,000 per month. All four plans cover up to 10,000 contacts at this base price — except for Premium which allows for 75,000 and are differentiated mainly by the features each offers.
You'll need to grab the Advanced or Premium plans if you're interested in using artificial intelligence to Boost your business. These plans come with Einstein AI built in, so you can reach out to your leads at the perfect moment to ensure a sale is as likely as possible.
If Salesforce Marketing Cloud Account Engagement sounds right for you, or you just want to check out whether it will work for your specific business needs, then you can join the thousands other businesses we helped to get set up with the platform. Save time and money by taking a minute to fill out our free, no-commitment form right now.
If your team has gone remote during the pandemic, you might be in need of some kind of collaboration platform. With Salesforce Quip, you can connect with your team in a meaningful way alongside your Sales, Marketing and Customer Service tasks, while keeping within the Salesforce suite.
Salesforce Quip costs $100 per user, per month on top of other Salesforce plans, and allows for activities including document and spreadsheet sharing, real time updates on team progress, mobile optimization for business on the go, and team messaging to stay in touch easily and effectively.
Does Salesforce Have a Free Plan?
No, Salesforce does not offer a free plan. The cheapest basic plan is the Sales or Service cloud, either one of which starts at $25/user/month.
A few big names in CRM – Apptivo, HubSpot, and Zoho CRM – do offer free plans, although all of them come with one big caveat: a limited feature set. Apptivo's free plan only supports a maximum of three users, for instance, compared to Salesforce's minimum of five.
Cost is not the only issue to consider, of course: You also have to decide whether the CRM platform you pick has the right features, integrations, and storage capacity for your needs. Not all CRM systems are the same, and any free option is unlikely to have all the features you'll need, particularly if you plan to expand your operation in the future.
What you'll notice from the pricing table above is that Salesforce – like pretty much all CRM platforms – charges on a per user, per month basis. Salesforce Essentials for Sales Cloud, for example, charges $25 per user, per month. There's a set minimum of five users, but no maximum.
If, however, you need help with marketing, we'd recommend the Salesforce Marketing Cloud Account Engagement platform. This option is just a simply monthly fee, but prices can up from there depending on your needs — it starts at $1,250 per month and goes all the way to $15,000 per month.
Annoyed by complicated pricing models? Compare the cost of Salesforce plans in a minute or two with our free quotes tool.
Per-user pricing schemes are typical for business software. It ensures the pricing structure is scalable, so it won't break the bank for the smallest companies that only need Sales Cloud for a few users, while still charging a fair price for larger companies.
If you need a CRM system for a full five users, you'll be paying around $1,500 per year for Salesforce. If you're a small company of 10 users moving up to the Lightning Professional tier, then you'll be paying about $9,000 per year.
When you're considering which clouds to pay for, keep in mind the number of current employees as well as how quickly you plan to expand. Keeping the per-user pricing in mind means you'll always know how much you'll be paying for Salesforce at any given time, which you can evaluate with our price comparison form.
New Salesforce Pricing: August 2023 Price Increase Explained
Salesforce recently announced in August 2023 that the platform would be undergoing a price increase across the majority of its Clouds and pricing plans. The move is a rare one from Salesforce, as the company hasn't seen a price increase to its popular CRM platform in more than seven years. Still, it can be a bit jarring for those familiar with Salesforce, which is why we wanted to explain it as effectively as possible.
For starters, it's not a massive increase, which is always good to hear. Pricing plans are getting on average a 9% increase, which certainly won't break the bank. The Professional plan has gone from $75 to $80 per user, per month, the Enterprise plan has gone from $150 to $165 per user, per month, and the Unlimited plan has gone from $300 to $330 per user, per month.
As for the reason behind the price increase, the development and rollout of generative AI technology to the platform is the main driver – at least according to the company itself.
“Salesforce is leading the way on delivering trusted generative AI for the enterprise and helping customers in all industries adopt and deploy AI.” – Salesforce
Salesforce has been hard to work to bring generative AI functionality to its wide variety of platforms. More specifically, Salesforce recently launched an Einstein GPT tool that can Boost sales, service, and marketing efforts at your business. On top of that, it has rolled out AI Cloud and Sales GPT and Service GPT, so it's safe to say that the slight price increase is more than worth it.
Alternatives to Salesforce CRM Prices
While Salesforce is an undeniably popular choice when it comes to CRM, it's not ideal for everyone. In fact, given the higher price and the robust nature of the platform, Salesforce can be a bit intimidating for certain businesses. Fortunately, the CRM market is riddled with amazing platforms that can get the job done.
Salesforce Marketing Hub is a competitive, albeit very expensive option when it comes to CRM, but our research found that HubSpot is your best bet in that regard. Both are quite expensive, with the HubSpot Marketing Hub starting at $45 per month, but HubSpot offers a great free plan, whereas Salesforce merely has a 30-day free trial. Simply put, HubSpot is just more accessible to users than Salesforce, particularly when it comes to marketing.
Zendesk pricing vs Salesforce pricing
For customer service, we highly recommend Zendesk for your business as a low-cost alternative to Salesforce. This platform offers a whole bunch of pricing plans and options — starting at $19 per user per month — so you can cater the cost to your particular needs. Zendesk offers the most built-in communication channels on the market, as well as some great perks like offline customer service options and ticketing functionality.
Zoho CRM pricing vs Salesforce pricing
Obviously, Salesforce is known for its sales platform, and if you can afford the cost and have a bigger team, we definitely recommend going with Salesforce. Still, Zoho CRM provides a great sales platform that can handle your needs at a lower price, starting at $14 per user per month and offering free plan to try, too. In fact, we found that Zoho CRM is the best option for small businesses, thanks to low prices and still plenty of features.
Verdict: Is Salesforce Worth the Cost?
As you can tell, Salesforce pricing varies dramatically from plan to plan, with options starting at $25 per user, per month for basic sales and service software, all the way to $15,000 per month for more robust marketing tools.
As you can imagine, smaller teams won't need to pay that much for a comprehensive platform that can get work done. Small businesses should stick to the lower priced Sales Cloud and Service Cloud options, as costs are low and competitive with other platforms. For marketing, Salesforce gets pretty complicated and expensive, and there are better options out there, like HubSpot.
Still unsure about Salesforce pricing? For a quick price comparison, use our free CRM price comparison tool and receive exact prices matched to your business requirements. It only takes a minute but can save you a lot!
No, all Salesforce plans are billed annually, despite Salesforce prices being broken down on a monthly basis. So, you'll have to sign up for at least a full year of service when it comes time to pay.
Unfortunately, Salesforce does not offer a free plan. However, if you're wary about purchasing the software for a full year without having a chance to try it out first, have no fear. Salesforce does offer a free trial of 30 days, so you can decide whether or not it's the right CRM software for you and your business.
Salesforce pricing starts at $25 per user, per month for basic sales and service plans, with more expensive plans as high as $330 per user, per month. For more advanced tools like Marketing Cloud, you'll pay between $1,250 per month and as much as $15,000 per month. Simply put, an average Salesforce cost is hard to nail down, but we'd say you can expect to pay around $80 per user, per month for a standard plan as a small business.
The cheapest Salesforce licenses are the Sales Cloud and the Service Cloud, which individually cost $25 per user, per month.
Our research shows that Salesforce is not a great value for the money, due to its high price and somewhat limited feature offering for its less expensive plans. Larger businesses may be interested in its enterprise offerings, but smaller businesses should likely look elsewhere to save a few bucks.
Compared to other top CRM providers, Salesforce isn't expensive, but it isn't super cheap, either. With a price range of $25 per user per month to $330 per user per month depending on the plan, Salesforce comes in at about the average for the industry. To find out exactly how much Salesforce will cost for your business, check out our Salesforce quote tool.
As far as value for money is concerned though, Salesforce does offer a robust features package as well as impressive support options, so you're definitely getting some serious bang for your buck.
Salesforce is considered one of the best CRM software choices on the market today. Between the robust customer support options, the vast catalog of CRM features, and the frequently updated platform to keep up with changing trends, Salesforce offers a high quality, efficient platform across the board.
However, it's always important to consider exactly what you need CRM software for at your business before making a decision, and Salesforce may not always match those needs, which is why a little bit of research on other CRM providers can go a long way.
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Tue, 22 Aug 2023 04:01:00 -0500en-UStext/htmlhttps://finance.yahoo.com/news/faang-interview-training-2023-interview-160100464.htmlKillexams : Four Ways to Build AI Tools Without Knowing How to CodeNo result found, try new keyword!Read more here.There’s a lot of talk about how AI is going to change your life. But unless you know how to code, and are deeply aware of the latest advancements in AI tech, you likely assume you have ...Mon, 31 Jul 2023 03:00:00 -0500en-ustext/htmlhttps://www.msn.com/Killexams : Q2 2023 Vacasa Inc Earnings Call
Bruce Schuman; CFO; Vacasa, Inc.
Robert Greyber; CEO, Interim Chief Product Officer & Director; Vacasa, Inc.
Ryan John Domyancic; Senior Director of IR and Corporate Development; Vacasa, Inc.
Dae K. Lee; Analyst; JPMorgan Chase & Co, Research Division
Jed Kelly; Director & Senior Analyst; Oppenheimer & Co. Inc., Research Division
Nicholas Freeman Jones; Director & Equity Research Analyst; JMP Securities LLC, Research Division
Good afternoon, ladies and gentlemen. Welcome to the Vacasa Second Quarter 2023 Earnings Call. (Operator Instructions) Please be advised that this call is being recorded. (Operator Instructions) And now at this time, I would like to turn the call over to Mr. Ryan Domyancic of Investor Relations. Please go ahead.
Ryan John Domyancic
Good afternoon, everyone, and thanks for joining us today for Vacasa's Second Quarter 2023 Earnings Call. I'm pleased to be joined today by CEO, Rob Greyber; and CFO, Bruce Schuman. Before we begin, let me cover a few administrative details. This call contains information that speaks only as of the date of today's live broadcast, and redistribution of this broadcast is prohibited. We have posted a shareholder letter on the IR section of our website at investors.vacasa.com that will be referenced by our speakers. Comments made during this conference call and in our shareholder letter may contain statements that are commonly referred to as forward-looking statements. Such statements include those about future expectations, beliefs, plans, projections, targets, estimates, objectives, events, conditions and financial performance. We caution that various factors could cause actual results to differ from those anticipated. For additional information concerning these risks and uncertainties, please read the forward-looking statements section in the shareholder letter we issued earlier today in the forward-looking statements and Risk Factors section in our filings with the SEC. During this call, we will discuss certain non-GAAP financial measures. Information regarding our non-GAAP financial results, including a reconciliation of non-GAAP results to the most directly comparable GAAP financial measures may be found in our shareholder letter. These non-GAAP measures should be considered in addition to our GAAP results and are not intended to be a substitute for our GAAP results. And now, I'd like to hand the call over to Rob Greyber. Rob?
Good afternoon, everyone, and thank you for joining us. I'm pleased to be with you all today to provide an update on the progress we made during the second quarter to review our financial results and to share an outlook for the business. I'd like to start by welcoming Bruce Schuman, our new CFO, to Vacasa. Bruce joined Vacasa in June and in just 2 short months is already ingrained in the business and has become a valued member of our leadership team. Bruce brings nearly 30 years of experience to Vacasa, including more than 25 years at Intel before serving as CFO of one of the nation's largest technology-driven real estate lenders. Bruce, thank you for all your contributions to date, and I look forward to working with you in the years to come. Now on to our updates for the business. We are in the midst of our summer peak season with a 3-month period from June through August, which represents our busiest time of the year. During these months, we will facilitate more than 500,000 reservations and on some weekends, we will manage over 30,000 reservations, more than other industry operators manage in a year, a reminder of the size and scale of Vacasa today and the incredible dedication of our team. A quick word on the attention our industry has received in the national and local press and on social media in accurate months with articles discussing market dynamics, such as demand returning to urban and international destinations and uptick in hybrid and in-office work, and most significantly increased vacation rental supply. We spotted and highlighted these trends starting in the fall of last year. With the benefit of our scale and data-driven approach, we were able to adjust our revenue management stance to address these shifts. Based on our data, we believe in the vast majority of our markets. Vacasa listings are generating more revenue than the industry. While 2023 has been a more challenging environment for vacation rentals relative to the record levels reached last year, we are primarily seeing lower gross booking value per night or price, while nights sold per average home during peak season is tracking roughly in line with last year. As a result, our teams are busier than ever, welcoming guests for their summer vacations. We are sharply focused on execution and are seeing some early benefits as we work against the priorities we set and the changes we made starting last year. I am pleased with our progress in operations, and I'm proud of the guest service levels we are delivering during our seasonally busiest summer months. I want to recognize the dedication and hard work of all Vacasa colleagues in the field. When I spoke with you all for the first time back in November, I outlined the tremendous opportunity Vacasa has in front of it. Vacasa addresses a large dynamic market with a hard problem that's best solved with technology and with competitors who have thus far not built the foundation to use technology and data to learn and improve. But as I shared when I first joined Vacasa to reach our potential in this market, we needed to sharpen our focus to perform at our best. Over the past 9 months, we've been adjusting the way we work, which is never easy, especially in a changing market environment. Nevertheless, our teams have persisted, and I'm incredibly proud of all our Vacasa employees for helping make demonstrable progress across all facets of our business. Throughout 2023, the team and I have been guided by 4 critical priorities: improving execution in local markets and customer support functions, unlocking the potential of the individual sales approach, developing the right technology product and service offerings and ruthlessly prioritizing our business needs to drive profitable growth. There is always more to do, but we made substantial progress against these goals. Week by week, wins are stacking up and the results of our efforts are beginning to materialize. There have been and will be steps forward and back, but we are gaining real momentum across our entire business, and I remain incredibly excited for what's ahead. We spent the last several quarters becoming more tactical in the way we operate in our local markets, particularly with regard to aligning staffing levels in a dynamic reservation environment. In 2021 and 2022, our teams were staffing in anticipation of stronger and stronger demand. Now we are more closely collaborating to watch demand and booking intakes and adjusting resources in local markets accordingly. We have also rolled out improved purpose-built technology tools and integrations for our local teams. The initial progress we saw in the first quarter from these changes carried into the second quarter. As a result, during the second quarter, we saw year-over-year improvements across our key local market operating metrics, despite a more uncertain demand environment. And most importantly, we aren't sacrificing service levels, which we also watch very closely to achieve these efficiencies as guest satisfaction, for example, among other key metrics, is right in line with last year. On the approach to managing local markets, we are removing layers of management and empowering the owner and guest experience teams who take care of customers. We've also set up processes that drive closer alignment across all the functions that support these local operations teams with better analytics and real-time support from revenue management, human resources and finance. We've also brought new technology into key workflows during the first half of the year with the goal of decreasing the cost of managing homes and guest days, while providing owners and guests with an even better experience. For example, we launched an automated scheduling tool for our field operations teams, providing greater visibility into and making it easier to get through their daily tasks. We released the HomeCare dashboard, which we touched on last quarter that provides homeowners with an unprecedented view into their homes. Now owners can track maintenance issues online and see reports of accurate inspections, for example, providing owners with 20 to 50 photos showing the condition of their home. Since launch, we've shared millions of photos with homeowners. We've also incorporated both SMS and web chat into our communications tools, opening up another communications medium for owners and guests. These technology tools bring efficiency to our local market operations and more immediately to communications with homeowners, a win for our homeowners, a win for our guests and a win for Vacasa. On the individual sales approach, the primary way in which we add homes to our platform, we've been testing and implementing changes that are taking hold. Our guiding principle for retooling the individual sales approach has been to streamline and simplify how we work. Some of the changes we have implemented include: adjusting the organizational structure, so every sales rep focuses on a single market, allowing them to develop and build the local market expertise that our homeowners crave; simplifying the pricing structures we offer to homeowners; rolling out internally developed technology tools to Boost the onboarding experience for new homeowners; and reducing the number and complexity of the incentive plans we manage internally. In the second half of the year, our focus will continue to be on solidifying the productivity improvements we've made in accurate months. Once we've fully institutionalized these new processes, we'll then consider growing the sales team. Encouragingly, while still elevated relative to prior years, homeowner churn has trended in the right direction in the second quarter. Our data continues to indicate that the higher level of churn is primarily due to concerns about levels of homeowner income as the industry comes off 2 record years. We are making significant efforts to educate our homeowners about the state of the industry, including sharing market level data to underscore that these trends aren't specific to Vacasa, and those communications have been positively received by homeowners. On the technology front, we completely changed our process of product development. Rather than shipping a few significant products each year, we are shortening development cycles and pushing to release smaller enhancements more often. As a result, we are getting more and better product tools and updates in front of homeowners, guests and colleagues faster. These advancements are improving experiences and having a positive meaningful impact on our business. For example, earlier, I mentioned that we are making it easier for homeowners and guests to communicate with Vacasa over SMS, if they prefer. In the first half of the year, we launched a click-to-SMS feature, giving guests the option to transfer to SMS rather than waiting on hold to speak to an agent. Guests have resoundingly opted for this feature with SMS inbounds now exceeding phone inbounds. These changes create a better experience for our guests, allowing them to more easily communicate with Vacasa and get answers to their questions faster while improving the efficiency of our customer service representatives. The team is also exploring how new artificial intelligence tools can be used in our workflow. For example, we are now using a tool to analyze listing photos of the homes we manage to ensure homes are tagged with all the relevant amenities. To date, we have analyzed more than 2.5 million listing images to expand on attributes like pools, kitchens, patios and more as well as provide us with image quality scores. The goal is for these insights to help Boost the guest booking experience by serving up the most relevant homes for any query or filter and drive reservation conversion. Finally, we continue to prioritize our business needs to drive profitable growth. We are carefully managing our operating expenses with technology and development, sales and marketing and general and administrative expenses down year-over-year. We are finding our focus on operating discipline and product development is starting to deliver results for Vacasa and is driving a better experience for homeowners and guests. Even though we have a lot more to do, I've seen this dynamic play out many times in my career, and I'm excited about the path ahead. Before I turn it over to Bruce, I'd just like to say thank you to our thousands of dedicated employees who are working so hard this summer peak season and throughout the year to bring vacations home for our homeowners and guests. Bruce?
Thanks, Rob. First, I'll review our second quarter financial results, then I'll provide an updated outlook for 2023. Unless noted otherwise, I will be comparing our second quarter results to the second quarter of 2022, and I'll be referencing the operating expense lines, excluding the impact of stock-based compensation, restructuring costs and business combination costs, which you can find outlined in our shareholder letter. For the second quarter, gross booking value, which is the combination of nights sold and gross booking value per nights sold, reached $622 million, down 8% year-over-year. Nights sold were $1.7 million in the second quarter, up 3% year-over-year. However, gross booking value per nights sold was $368 in the second quarter, down 10% year-over-year. Over the past few quarters, we've talked about the decline in average gross booking value per home as the industry normalizes off of the record highs from the past few years. This dynamic continued in the second quarter with a 10% year-over-year decline in gross booking value per nights sold, while average nights sold per home on our platform was roughly flat year-over-year. Remember also, there is a strong relationship between nights sold and gross booking value per night sold, and it's difficult to look at either in isolation. Our revenue management algorithms and team are constantly evaluating the trade-off between price and occupancy and the mix of nights sold and gross booking value per nights sold, with the goal of optimizing homeowner income. Revenue, which consists primarily of our commission on the rents we generate for homeowners, the fees we collect from guests and revenue from home care solutions provided directly to our homeowners was $305 million in the second quarter, down 2% year-over-year. Now turning to our expenses. Cost of revenue was 47% of revenue in the second quarter versus 49% of revenue in the same period last year. Operations and support expense was 20% of revenue in the second quarter versus 19% of revenue in the same period last year. These 2 expense lines primarily consist of our local market and customer support costs. As Rob alluded to, we continue to make improvements in the way we manage our local market operations. We are also demonstrating operating discipline in our central operations where we achieved year-over-year leverage across our 3 other operating expense lines in the second quarter. Specifically, on a year-over-year basis, technology and development expense was flat, sales and marketing expense declined 9% and general and administrative expenses declined 47%, though there were some nonrecurring expenses last year. Adjusted EBITDA was $16 million for the second quarter compared to a $2 million loss in the same period last year. The $19 million year-over-year improvement despite a 3% increase in nights sold and a 2% decrease in revenue demonstrates the progress all of our teams are making in operating the business with increased discipline. Now turning to the outlook. As we indicated in March, we are not issuing explicit quarterly guidance, given we are still adjusting to the changing booking patterns as the industry comes off of 2 record years. While the business is operating with more discipline and making our costs more predictable, we are continuing to experience variability in booking patterns, especially on the close-end part of the booking curve. That said, given we are well into peak, we believe that we will land at the higher end of our initial full year 2023 revenue growth guidance range and now expect 2023 revenue to decline by a high single-digit percentage year-over-year. For full year adjusted EBITDA, you can see we are making progress and operating more efficiently, and we believe we will achieve slight adjusted EBITDA profitability in 2023. With that, Rob and I will take your questions. Operator, please open up the lines.
Question and Answer Session
(Operator Instructions) We'll take our first question today from Doug Anmuth at JPMorgan.
Dae K. Lee
This is Dae on for Doug. I have 2. The first one is around overall not going -- you did talk about market dynamics in your letter in your prepared remarks about demand returning to urban, international, uptick in hybrid and in-office work, et cetera. So based on what you guys see, how far along do you think the industry is in facing these shifts. We have seen the peak of the shift already? Or is that still to come? And related to that, when we anticipate you'll start lapping the worst of the headwinds, meaning when should your top line start accelerating again?
Thanks, Doug. I appreciate the question. On the first piece, with respect to the macro environment and booking patterns and so forth, I think that by and large, what we've seen play out over the last 12 months or so, plus or minus, has been a really kind of a return to what is a normal sort of booking pattern off of -- on some level, off of the peak highs that you saw over the past several years in terms of pricing. In terms of the patterns that you see, I think there's some snapback to international and so forth. There's going to be a little bit of sloshing around in the global travel bucket as things -- as consumers get used to new flexibility, new availability to travel, to destinations that might have been closed during COVID and so forth. And I think that there's probably still some more to come in terms of different trends geographically, for example, in the North American market. I think the East Coast is much more back to the office and in some of those normal rhythms, and the West Coast, I think there's probably still a little bit more to go. As it touches our business, I mean, for the most part, we see some of those dynamics, but we see it largely play out as you see it playing out now in terms of what we're seeing on occupancy and overall pricing environment in our business. And I just didn't catch the second -- I think that was the first question. I didn't catch the second one, though.
Dae K. Lee
The second one was related to that. So when do you anticipate you'll start lapping the worst of these changes, meaning like when should your business or top line start accelerating again?
Yes. I think in terms of that, when we're looking at this kind of environment, I kind of view it from the lens of kind of normal economic changes in what I've seen in the travel industry. And for the most part, I think what we're seeing is a typical sort of reversion to the mean, if you will, and it feels like a pretty normal cyclical motion in the industry. And none of us have a crystal ball, I left mine at home today. But for the most part, this is what you see. And we feel comfortable that we can navigate it on behalf of our owners and on behalf of our business.
And we'll take our next question from Nick Jones of JMP Securities.
Nicholas Freeman Jones
Great. GBV per nights sold down 10% year-over-year. How should we be thinking about that for the back half? It seems like maybe typical seasonality here might break down a little bit as we kind of normalize this year? And then maybe a question as it relates to GBV per nights sold. Do these GBV per nights sold trends kind of inform on churn levels? And I guess if so, are the kind of technology and sales efforts helping kind of offset maybe less returns that homeowners are seeing as a result of these lower GBV per nights sold?
Why don't I ask Bruce to take that first one, and I'll jump in.
Yes. Thanks, Nick, for the question. I would say on the mix of nights sold versus gross booking value per nights sold, our revenue management team is really always looking at this. They have proprietary systems. They're looking at industry data, they're looking at daily bookings intakes and conducting AB test to really determine the optimal mix of pricing and sell-through really to maximize income for homeowners. So Nick, right now, the revenue management team, they've determined that lowering price, maintaining those sell-through rates, that really is the optimal approach for us. And when you look at other travel environments, that's not surprising, it's typically what happens. So you can kind of see this play out in our second quarter results, where nights sold is roughly in line with home growth, while price or gross booking value per nights sold, that was down, as you know, 10% year-over-year. So to answer your question, through the first half, you've seen that kind of play out, gross booking value per nights sold declined with smaller changes in nights sold. But for the back half of the year, the strategy and kind of the resulting effect on the mix of nights sold and gross booking value, that's really going to depend on the demand environment and what we believe is our optimal response to it. And then on the second part of the question, do you want to take the churn one, Rob?
Yes, absolutely. I think that -- first of all, let's just take a step back. With respect to the dynamics with owners, we began to observe as we've shared before, just some elevated levels of churn in the fourth quarter, and that's continued through the first part of the year. That coincided, and we dig into this as much as we possibly can, that certainly coincided with some of the changes in the economic and the demand environment that we've cited before. And we certainly see owners when they look to make a change, citing homeowner revenue is one of those key reasons that's causing frustration for them. And I think to some extent, that's just coming off of these highs that we've seen. At the same time, we are focused on the things that we can control. And so we have really leaned into this. We've done a number of things on the communications side, really trying to do a better job of explaining what we are seeing across the industry, what's going on in the industry, what their individual markets are seeing, how that translates into the expectations that they should have for 2023. But we've also been, I'd say, equally leaning in on the revenue management side. So despite what we see on GDV per nights sold, we are really focused on making sure we are doing the best job that we possibly can for our owners, and we think the data shows that. It's pretty clear that when you look at industry data, we're delivering well on our ability to drive revenue for our owners when we compare ourselves to the market at large. So we want to get back to an environment that is going to be growing like the last several years, but I think there's going to be just a long-term cycle. But most importantly for us is to deliver for our owners and to make sure that we're managing those expectations and then delivering on them. We're exceeding them wherever we possibly can. Again, I would just say that in terms of the dynamic in general, what we expect to play out is this is an industry-wide phenomenon. So to the extent that there is some of this frustration, we think it's across the industry. You think you see that as evidenced with some of what's kind of shown up on social media and in the press. But again, we're laser focused on the things that we can control, and we're acting on those things, and we think that the data is showing that we're delivering for our owners, and that's the most important thing.
And we'll go next now to Jed Kelly at Oppenheimer.
Great. Just looking at the EBITDA improvement relative to lower revenue, you're really making a lot of nice efficiency gains. Can you talk about -- I know you touched on it in your opening remarks, but sort of touch on some of the underlying drivers there. And then, Rob, can you just provide us an update on your salesforce productivity about the supply ramp and where we are there?
Yes. Sounds good, Jed. So I'll take the first part, and then I'll let Rob on the second part. So for us, Jed, Q2, this is really a story about operating basics and really the discipline to drive them. It's just kind of boiled down to just improved execution for us throughout the entire second quarter. I think a couple of examples I would point to. I think we did a much better job this quarter in just operating discipline in the field, our field teams managing resources much more tightly to kind of variable booking patterns and just doing a better job in execution there. I think we've worked hard secondly to maintain -- we talked about the workforce reduction in January, just maintaining discipline there. So we see that operating leverage continue to flow through. And then I think, thirdly, our revenue management team is just really watching this carefully. I think as they watch the emerging trends, they're doing a good job on executing just to drive bookings at a very tactical level as they navigate what we all know is a very dynamic environment. So it's really an execution story. There will be some steps forward, steps back, like we've talked about, but we're just focused on keeping that progress going across the business.
Yes, Jeff, the second part of the question with respect to the performance on sales. Yes, that -- as I think about that, Jed, I really think about that in the context of what we're doing overall here. So first, we have been working to get the unit economics right, as Bruce just described. We're working on then really focusing on our ability to have a growth motion that is repeatable, that is dependable, that is process driven and so forth, and then improving the product cadence. You're asking about that kind of second part of the formula, if you will. And there, look, the sales team had a nice second quarter. We had solid per rep productivity. We were pleased to see that. We're encouraged by the progress that we've seen over the last couple of months -- the last several months, and we think it's a step to right -- in the right direction. We're focused on making these things continued and kind of a normal part of what we do. So what's driving that progress? I think it's a focus on the execution elements of the go-to-market motions of the business. So finding the right size for the sales force, better aligning those teams from a geographic perspective, simplifying key aspects of how they work, and that ranges from the organizational structure, to the number of incentive plans that we manage, to simplify the pricing that we offer to our homeowners, to investing in tools and processes for onboarding new homeowners onto our platform. So when I look at it, I see a great team that is digging in. We have a lot more work that we can get done. It's encouraging to see some initial progress along that path. And looking ahead, the focus for the rest of the year remains on maintaining these productivity gains, continue to invest on the process side, continuing to invest in some of the standard operating procedures and the growth motions. And then as we get into the back half of the year or next year, that's when we'll start to potentially explore increasing the size of the salesforce.
And then just given the RevPAR headwinds the industry is facing, I'm sure some of the owners that are doing it themselves are facing similar headwinds. So are you seeing now more inbound from owners that probably had a good '21 are struggling and well, back half of '22 into '23. Are you seeing more inbound from some of these owners that thought they -- thought it was easy in '21, but now are realizing this is pretty hard?
Yes, Jed. Look, it's a great question. We haven't shared anything on kind of rates of inbound inquiries and so forth. But if you hear from anybody, please have them provide me a call. More seriously, we absolutely do expect a dynamic where there is going to be a real need for owners to be able to have a partner that can navigate these dynamics with us. We think we are very focused on doing that job better and better and better every month. And I'm very proud of the work that the team has done so far this year. It's been a tricky year, a dynamic year. And I think that we've made good progress there, and we'll certainly be talking about that with owners when we engage with them.
And gentlemen, it appears we have no further questions this afternoon. Mr. Greyber, I'd like to turn things back to you for any closing comments.
Operator, thank you very much. Thanks, everyone, for joining, really appreciate the questions. I just wanted to say thank you again to all of our teams working so hard in the field this summer peak season, and also thank you to all of our owners for your partnership and for all of the work we've done together. Thanks very much. We'll talk to you again next quarter.
Thank you, Mr. Greyber. Again, ladies and gentlemen, that will conclude the Vacasa Second Quarter 2023 Earnings Call. We'd like to thank you all so much for joining us and wish you all a great remainder of your day. Goodbye.
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