How Chronosphere Built a Proprietary TAM with CloseFactor
Chronosphere is a purpose-built cloud native monitoring platform to address the needs of large and scaling modern cloud-native engineering organizations. Sitting at the intersection of the major trends transforming infrastructure software – the rise of open-source and the shift to containers – Chronosphere has quickly become a transformative player as an observability platform for advanced analytics and machine learning on connected data.
Since deployment, we have seen higher quality and quantity of pipeline from our target accounts powered by CloseFactor. Additionally, CloseFactor has given us an edge in setting all our reps up for success via rich territories which is an elusive goal for many sales organizations
Ambitious Growth Goals
As one of the fastest growing companies in its space, Chronosphere achieved tremendous success because of the high pace of product innovation and tremendous value delivered to cloud-native organizations. To keep advancing at this rapid pace, the Chronosphere team wanted the most efficient possible approach to growing their go-to-market footprint.
Connected data in organizations is of tremendous value and the Chronosphere sales team was tasked with helping customers realize this value. However, the existing set of tools in the marketplace for sales teams had tremendous gaps in the visibility they provided for go-to-market planning.
Many tools had the firmographic data available but none had the deep visibility to precisely identify the exact buying initiatives or buyer personas that matched the painpoints that Chronosphere solves.
Ali Jones, Head of Revenue Operations at Chronosphere wanted to make sure that the sales team had the fastest path to targeting the right accounts with the right buying indicators. She notes, “The number of cloud native engineering organizations are growing by the day. Lagging information such as firmographics or funding rounds is not enough to effectively size and segment this market let alone deploy our salesforce effectively on it”
CloseFactor Accelerates Go-to-market and Sales Efficiency
Martin Mao, Chronosphere CEO, is a seasoned leader and forward thinker. He didn’t just want a pie-in-the-sky plan - he wanted one that was backed by deep visibility into the entire market and one that could put his team on the fastest path to success.
He chose CloseFactor for multiple reasons - CloseFactor not only gave him a realistic scored and segmented view of his entire Total Addressable Market (TAM), it also gave his team visibility into their accounts, at a scale that would have taken hours and hours of manual work to get to.
The CloseFactor platform built Chronosphere’s proprietary account prioritization view based on forward looking buying indicators, 100% specific to Chronosphere’s value prop, across tens of thousands of accounts.
“When you think of all the wasted cycles in sales, many of them are spent in organizations that are not ready to buy”, says Ron. “I want my team to spend their time with the right accounts, and in the right context”
CloseFactor provided a broad view into all of Chronosphere’s target accounts and scored them based on buying potential so that each rep could be assigned a good set of high/medium potential accounts and with a path to the right buyer personas in each.
CloseFactor curated specific information topics that were relevant to Chronosphere, so sales executives were able to get conversations started and progressed sooner and in context of their accounts’ initiatives.
Lori Lipscomb, VP of enterprise sales at Chronosphere is energized by the CloseFactor territories
“Territory rollouts to our sales team has been very energizing and motivating, particularly as CloseFactor highlights the exact opportunities inside each account - it is not theoretical and gives my team an information advantage plus a path to execution”, she says. She has been able to ramp up both her AE team and the BDR team very rapidly thanks to the initial planning effort in getting go-to-market exactly right.
Ali Jones, who shoulders the responsibility to set the entire team up for success is pleased with the results. “Since deployment, we have seen higher quality and quantity of pipeline from our target accounts powered by CloseFactor. Additionally, CloseFactor has given us an edge in setting all our reps up for success via rich territories which is an elusive goal for many sales organizations”, she says.
CloseFactor uses machine intelligence to do your bespoke custom research, taking the pain out of finding which prospects are most likely to buy and the right buyer personas to take action with across hundreds of prospect companies.
With CloseFactor’s automated research assistance, sales reps now have visibility into where all the opportunities are and how to close them. With the machine’s continuous account mapping, sales reps can keep on top of many more accounts than they used to, without losing sleep or missing an opportunity. Contact firstname.lastname@example.org to request a demo today!