Key Points in Snowflake's Growth with CRO Chris Degnan
whatshot 6 snips
Oct 29, 2023
Snowflake's CRO Chris Degnan shares insights into pivotal moments and strategies that fueled Snowflake's growth. From selling to large enterprises to expanding into a larger customer base, Chris discusses the importance of adaptability and understanding the company's culture. The podcast also explores Snowflake's partnership with Capital One and the significance of identifying an ideal customer profile. Overall, the podcast delves into key decisions and lessons on scaling a successful business.
12:47
forum Ask episode
web_stories AI Snips
view_agenda Chapters
auto_awesome Transcript
info_circle Episode notes
question_answer ANECDOTE
Capital One's Impact
Chris Degnan wasn't sure Snowflake could expand beyond tech companies.
Capital One's substantial interest and demands marked a turning point, proving Snowflake's broader appeal.
insights INSIGHT
Ideal Customer Profile
Identifying an ideal customer profile goes beyond simple segmentation or industry.
It involves understanding the customer's problems and their willingness to invest in solutions.
volunteer_activism ADVICE
Balancing Enterprise and Velocity
Balance pursuing large enterprise deals with acquiring new logos for velocity.
Over-reliance on large enterprises can lead to unpredictable revenue fluctuations.
Get the Snipd Podcast app to discover more snips from this episode
In this episode of The Revenue Builders Podcast hosted by John McMahon and John Kaplan, Snowflake's CRO Chris Degnan delves into the pivotal decisions and strategies that led Snowflake to its incredible growth. Chris shares insights into recognizing key moments and adapting to changing market dynamics. From selling to large enterprises to navigating the shift to the cloud, Chris provides valuable lessons on scaling a successful business.
KEY TAKEAWAYS
[00:00:53] The pivotal moment when Capital One became a game-changer for Snowflake's growth. [00:02:21] Identifying an ideal customer profile and how it reshaped Snowflake's strategy. [00:03:06] Mechanically expanding the addressable market and pursuing a larger customer base. [00:06:40] Balancing the rapid expansion of the addressable market while maintaining focus and not overextending. [00:08:40] Adapting to changes and reorganizing the sales team to effectively target large enterprises. [00:10:32] The importance of adaptability, coachability, and a willingness to try new strategies. [00:12:40] The significance of understanding your company's culture and capabilities before making major changes.
HIGHLIGHT QUOTES
[00:01:19] "We got something, and it was a lot of work because they wanted us to do more engineering work than we originally planned." [00:04:43] "You can't build a business on just the large enterprise. Getting new logos matters." [00:05:53] "The competition can't help them vacate the data center; Snowflake can." [00:07:28] "You can't sell to the large enterprise the same way you're selling to small and medium businesses." [00:09:24] "What worked before doesn't mean it's going to work forever." [00:10:50] "You gotta figure out, is this game-changing? How do you balance it and understand what you have in the kitchen before bringing something new?" [00:12:40] "Before you decide to remodel, figure out what's in the kitchen first."
Revenue Builders