Splunk reveals plans for breaking into new markets| #Splunkconf
Splunk Inc.’s biggest chunk of licensing revenue comes from existing customers. Challenging traditional models where existing customers pay for maintenance, Splunk’s revenue is generated because customers typically start small and then sign on for significant upgrades. Within this business model, “it’s critical for customers to have a great experience,” explained Steve Sommer, the company’s senior vice president and chief marketing officer, VP & Chief Marketing Officer, in a live interview. The executive met with theCUBE co-hosts John Furrier and Jeff Kelly during SiliconANGLE’s ongoing coverage of this week’s Splunk conference.
Sommer said most Splunk customers start with a free download, to then be converted into true evangelists. When breaching new market segments, Splunk leverages existing customers’ field expertise through live events where they explain not just how they use the Splunk platform, but what industry-specific apps they build on top of it.
With 400-500 new customers each quarter, Splunk targets “new markets, new partners, new ecosystems,” according to Sommer. This is the result of both sales, marketing, and evangelism, as many professionals switching companies bring Splunk to their new employers.
Learn more about Splunk’s “big picture” strategy for driving growth by watching Sommer’s entire segment below:
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