Plank: Time-based discounts without trust are counterproductive in enterprise sales
Matt Plank · Matt Plank, Rippling's CRO: How to Build an Enterprise Sales Machine | E1241 · 20VC with Harry Stebbings · Dec 20, 2024 · at 34:07
Matt Plank, Chief Revenue Officer at Rippling, discusses tactics for building genuine deal urgency in enterprise software sales with Harry Stebbings.
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“People do not sign contracts on the last day of the month because they're worried that their discount's gonna go away. Like, that's absolute bullshit. Like, if you ever bought software and it's the 31st of the month, and someone's like, you have this quarter-end discount, like, you know, it's extremely unlikely that if you come back on the third or the fourth, they're gonna be like, you know, no, I won't give you that price. Like, certainly there might be a different price. You might have to go through a whole cycle, whatever. But the reason that the majority of people, like, Sign that contract on the 31st, the end of the quarter, whatever, is because you built a relationship throughout the entire valuation of some, like, trust. Like, they feel, you know what I mean? Like, they feel like they, they've agreed to do some things, and they want to, like, meet their part, but without that, then time-based discounts don't work for anybody, and they're actually anti, you know, they're like, they really are counterproductive.”
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