When it comes to running your business, it’s the often taken for granted salespeople that bring in the dough that pay the bills and our salaries. Most salespeople pay their own bills by making a commission on products or services that have been sold; it’s easier said than done and not for the thin skinned. Powering through thousands of contacts is not only exhausting; there is a great deal of rejection that comes with the job. Managing thousands of contacts can also be daunting, hence the massive success story of Salesforce.com (NYSE: CRM) of which holds over 18% of the $36.5 Billion market forecasted for 2017 by analyst firm Gartner.
Originally founded 18 years ago by billionaire Marc Benioff, Salesforce.com now does annual revenues of nearly $7 Billion and whose stock trades at nearly $80 (up from $7.00 in 2009!) giving it a market capitalization of over $50 Billion. Not bad for selling cloud based software that helps salespeople ‘sell’.
Salesforce is certainly not the only game in town, Microsoft, SAP, Oracle and others offer a CRM product which are geared at Fortune 500 companies while Salesforce’s product is less expensive and seemingly geared at small and medium sized businesses. In our research, we discovered several other cloud based CRM services competing with Salesforce, but only one other newly launched service was being operated by a publicly traded company; bContact.com run by Subscribe Technologies Inc. (CSE: SAAS) currently trading at around $0.10 with 28m shares outstanding.
bContact offers a wide range of business features all integrated in to a single platform and best of all it’s free, users only pay the $9.95 per month fee when adding additional employees. The business management tools have been simplified to lessen the learning curve so that you can spend more of your time focused on your business. In addition to the basic CRM, other features include basic accounting, banking, quotations, invoicing and payment processing.
If bContact can appeal to even a small portion of $36.5 Billion market, Subscribe Technologies could be well positioned to see its valuation increase, this is our Stock to Watch.