How Is Salsify Using AI to Drive Growth and Efficiency in 2024?

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In 2024, Salsify, a leading Product Experience Management (PXM) platform, has made significant strides in leveraging artificial intelligence (AI) to drive growth and efficiency for its users. Salsify reported double-digit Annual Recurring Revenue (ARR) growth in 2024, a testament to the platform’s increasing adoption and effectiveness. With 70,000 PXM users across 149 countries, the platform facilitated 511 million automated workflow tasks, a 40% increase from the previous year. This surge in automated tasks underscores the growing user engagement and the platform’s enhanced efficiency.

The platform’s global reach is evident as it helped publish over 2 billion products to 950 destinations worldwide. By facilitating product publishing on a global scale, Salsify ensures that its users can reach a wider audience, thus driving higher sales and market penetration.

Introduction of Salsify PXM Advance and AI Integration

Launch of Salsify PXM Advance

One of the pivotal developments in 2024 was the introduction of Salsify PXM Advance, the latest AI-powered version of the platform. This upgrade quickly gained traction, with 47% of Salsify’s customers transitioning to the new platform within the year. The rapid adoption of Salsify PXM Advance underscores the strategic importance of AI in enhancing business value and operational efficiency. Users have reported substantial improvements in their workflow processes, noting the platform’s intuitive design and powerful analytical capabilities.

Enhancements in Grocery Accelerator

The AI integration particularly benefited the Grocery Accelerator feature, which improved the accuracy and quality of product data entering the market. This enhancement streamlined processes for customers, ensuring that product information was precise and up-to-date, thereby driving better market performance and customer satisfaction.

Customer Acquisition and Engagement

Welcoming New Customers

In 2024, Salsify welcomed over 200 new customers, including prominent names like Virbac and Riviana Foods, Inc. The onboarding of new customers is supported by Salsify’s dedicated customer success teams, who ensure that each new user receives tailored guidance and support.

Strengthening Existing Relationships

Existing customers, such as Coty and Fortune Brand Innovations, increased their commitments to Salsify, reflecting strong customer retention and satisfaction. With a gross retention rate in the mid-90s, Salsify’s ability to maintain and grow its customer base is a clear indicator of the platform’s consistent performance and reliability.

Investment in Product Innovation

Speed to Market

Salsify invested $32 million in product innovation in 2024, significantly enhancing the platform’s capabilities. Automated workflows and AI features drastically reduced the time for products to reach the market. For instance, a global food brand reduced their time to market from seven days to mere minutes, while a national household goods company cut their time from six weeks to one week.

Performance Improvements

Enhanced product content created using Salsify’s platform led to improved SEO, conversion rates, and retail media Return On Ad Spend (ROAS). Success stories include a global electronics manufacturer raising their content scores on Walmart from 86% to 94%, and a global wine and spirits brand experiencing a 24% volume growth at a major US grocer.

Tech Consolidation

Salsify’s strategic investments enabled customers to consolidate their tech stacks efficiently. A global CPG brand, for example, replaced their legacy PIM solution with Salsify PXM Advance, launching seven markets in just five months.

Global PXM Network Growth

Expanding Retailer Connections

Salsify expanded its global PXM network, ensuring broader and more impactful customer reach through new retailer connections and enhanced content capabilities. The platform’s investment in Amazon success increased its market presence to 16 markets, while bi-directional retailer connections broke down data silos, aiding in enhanced product content collaboration.

Recognition and Achievements

Industry Recognition

Salsify’s efforts in 2024 did not go unnoticed. The platform was recognized as a “Leader” in IDC’s latest PIM market evaluation for 2024-2025. The IDC MarketScape acknowledged Salsify’s strong governance, taxonomy, and flexible omnichannel data management capabilities, further solidifying its position as a top player in the industry.

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