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Matt Plank

๐Ÿ‘ค Speaker
645 total appearances

Appearances Over Time

Podcast Appearances

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Sales: Rippling's CRO on Why Founders Should Not Create Sales Playbooks | Why Discounting is BS and How to Create Urgency in Deals | The Biggest Lessons on Pricing and How to Win the Pricing Game with Matt Plank

So in terms of customer success, like at Rippling in the very early days, we had customer success, which I think of as like their, you know, charter is make customers successful, renew them. But like, it's not to, you know, it's generally not to like sell new products. And so, you know, early on at Rippling, again, we had three products when the company first launched and now we have over 30.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Sales: Rippling's CRO on Why Founders Should Not Create Sales Playbooks | Why Discounting is BS and How to Create Urgency in Deals | The Biggest Lessons on Pricing and How to Win the Pricing Game with Matt Plank

So in terms of customer success, like at Rippling in the very early days, we had customer success, which I think of as like their, you know, charter is make customers successful, renew them. But like, it's not to, you know, it's generally not to like sell new products. And so, you know, early on at Rippling, again, we had three products when the company first launched and now we have over 30.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Sales: Rippling's CRO on Why Founders Should Not Create Sales Playbooks | Why Discounting is BS and How to Create Urgency in Deals | The Biggest Lessons on Pricing and How to Win the Pricing Game with Matt Plank

So in terms of customer success, like at Rippling in the very early days, we had customer success, which I think of as like their, you know, charter is make customers successful, renew them. But like, it's not to, you know, it's generally not to like sell new products. And so, you know, early on at Rippling, again, we had three products when the company first launched and now we have over 30.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Sales: Rippling's CRO on Why Founders Should Not Create Sales Playbooks | Why Discounting is BS and How to Create Urgency in Deals | The Biggest Lessons on Pricing and How to Win the Pricing Game with Matt Plank

And so at Rippling early on, we had customer success. And when somebody signed up for Rippling and then they came back six months later to add a product, like we would bring it back to the original sales rep. And like over time, that was just like clearly a terrible model. And so we converted.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Sales: Rippling's CRO on Why Founders Should Not Create Sales Playbooks | Why Discounting is BS and How to Create Urgency in Deals | The Biggest Lessons on Pricing and How to Win the Pricing Game with Matt Plank

And so at Rippling early on, we had customer success. And when somebody signed up for Rippling and then they came back six months later to add a product, like we would bring it back to the original sales rep. And like over time, that was just like clearly a terrible model. And so we converted.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Sales: Rippling's CRO on Why Founders Should Not Create Sales Playbooks | Why Discounting is BS and How to Create Urgency in Deals | The Biggest Lessons on Pricing and How to Win the Pricing Game with Matt Plank

And so at Rippling early on, we had customer success. And when somebody signed up for Rippling and then they came back six months later to add a product, like we would bring it back to the original sales rep. And like over time, that was just like clearly a terrible model. And so we converted.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Sales: Rippling's CRO on Why Founders Should Not Create Sales Playbooks | Why Discounting is BS and How to Create Urgency in Deals | The Biggest Lessons on Pricing and How to Win the Pricing Game with Matt Plank

Because our sales reps are very high velocity. They're doing a lot of calls and they're focused on, you know, if a new logo deal is $45,000, like an add-on contract for someone that signed up six months ago might be $5,000 or something.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Sales: Rippling's CRO on Why Founders Should Not Create Sales Playbooks | Why Discounting is BS and How to Create Urgency in Deals | The Biggest Lessons on Pricing and How to Win the Pricing Game with Matt Plank

Because our sales reps are very high velocity. They're doing a lot of calls and they're focused on, you know, if a new logo deal is $45,000, like an add-on contract for someone that signed up six months ago might be $5,000 or something.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Sales: Rippling's CRO on Why Founders Should Not Create Sales Playbooks | Why Discounting is BS and How to Create Urgency in Deals | The Biggest Lessons on Pricing and How to Win the Pricing Game with Matt Plank

Because our sales reps are very high velocity. They're doing a lot of calls and they're focused on, you know, if a new logo deal is $45,000, like an add-on contract for someone that signed up six months ago might be $5,000 or something.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Sales: Rippling's CRO on Why Founders Should Not Create Sales Playbooks | Why Discounting is BS and How to Create Urgency in Deals | The Biggest Lessons on Pricing and How to Win the Pricing Game with Matt Plank

And so when their calendar is stacked up with deals that are 40, 50, 60K, and then all of a sudden you throw this meeting on their calendar for a $5,000 deal, they're just not going to be able to give it the attention that it needs. And so we split the team and we changed the function. We said, look, we need account management.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Sales: Rippling's CRO on Why Founders Should Not Create Sales Playbooks | Why Discounting is BS and How to Create Urgency in Deals | The Biggest Lessons on Pricing and How to Win the Pricing Game with Matt Plank

And so when their calendar is stacked up with deals that are 40, 50, 60K, and then all of a sudden you throw this meeting on their calendar for a $5,000 deal, they're just not going to be able to give it the attention that it needs. And so we split the team and we changed the function. We said, look, we need account management.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Sales: Rippling's CRO on Why Founders Should Not Create Sales Playbooks | Why Discounting is BS and How to Create Urgency in Deals | The Biggest Lessons on Pricing and How to Win the Pricing Game with Matt Plank

And so when their calendar is stacked up with deals that are 40, 50, 60K, and then all of a sudden you throw this meeting on their calendar for a $5,000 deal, they're just not going to be able to give it the attention that it needs. And so we split the team and we changed the function. We said, look, we need account management.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Sales: Rippling's CRO on Why Founders Should Not Create Sales Playbooks | Why Discounting is BS and How to Create Urgency in Deals | The Biggest Lessons on Pricing and How to Win the Pricing Game with Matt Plank

We need people who have had sales, carried a quota, want to be held accountable to quota and all that kind of stuff. And so at Ripley, we have new logo sales reps pass a deal over the fence. And then they have account managers who own the commercial relationship renewals. They still own success. Unsuccessful companies will not buy anything new from you, obviously.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Sales: Rippling's CRO on Why Founders Should Not Create Sales Playbooks | Why Discounting is BS and How to Create Urgency in Deals | The Biggest Lessons on Pricing and How to Win the Pricing Game with Matt Plank

We need people who have had sales, carried a quota, want to be held accountable to quota and all that kind of stuff. And so at Ripley, we have new logo sales reps pass a deal over the fence. And then they have account managers who own the commercial relationship renewals. They still own success. Unsuccessful companies will not buy anything new from you, obviously.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Sales: Rippling's CRO on Why Founders Should Not Create Sales Playbooks | Why Discounting is BS and How to Create Urgency in Deals | The Biggest Lessons on Pricing and How to Win the Pricing Game with Matt Plank

We need people who have had sales, carried a quota, want to be held accountable to quota and all that kind of stuff. And so at Ripley, we have new logo sales reps pass a deal over the fence. And then they have account managers who own the commercial relationship renewals. They still own success. Unsuccessful companies will not buy anything new from you, obviously.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Sales: Rippling's CRO on Why Founders Should Not Create Sales Playbooks | Why Discounting is BS and How to Create Urgency in Deals | The Biggest Lessons on Pricing and How to Win the Pricing Game with Matt Plank

And so they do have to make them successful, but they are much more, much closer to like a sales team and a support team for us.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Sales: Rippling's CRO on Why Founders Should Not Create Sales Playbooks | Why Discounting is BS and How to Create Urgency in Deals | The Biggest Lessons on Pricing and How to Win the Pricing Game with Matt Plank

And so they do have to make them successful, but they are much more, much closer to like a sales team and a support team for us.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Sales: Rippling's CRO on Why Founders Should Not Create Sales Playbooks | Why Discounting is BS and How to Create Urgency in Deals | The Biggest Lessons on Pricing and How to Win the Pricing Game with Matt Plank

And so they do have to make them successful, but they are much more, much closer to like a sales team and a support team for us.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Sales: Rippling's CRO on Why Founders Should Not Create Sales Playbooks | Why Discounting is BS and How to Create Urgency in Deals | The Biggest Lessons on Pricing and How to Win the Pricing Game with Matt Plank

It's a good question. For multi-product companies, yes. Because the reality is you can't have both. You can't have like a customer success manager and an account manager. Now at Rippling, we do have account managers that own the commercial relationship and expanding their usage within our product suite.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20Sales: Rippling's CRO on Why Founders Should Not Create Sales Playbooks | Why Discounting is BS and How to Create Urgency in Deals | The Biggest Lessons on Pricing and How to Win the Pricing Game with Matt Plank

It's a good question. For multi-product companies, yes. Because the reality is you can't have both. You can't have like a customer success manager and an account manager. Now at Rippling, we do have account managers that own the commercial relationship and expanding their usage within our product suite.