Assertion certainty 3/5 debate potential 1/5

Plank: Rippling's mid-market win rate is 20% and enterprise is 15%

Matt Plank · Matt Plank, Rippling's CRO: How to Build an Enterprise Sales Machine | E1241 · 20VC with Harry Stebbings · Dec 20, 2024 · at 17:22

Matt Plank is Chief Revenue Officer at Rippling. He shares close rate metrics for mid-market and enterprise sales segments with host Harry Stebbings.

0:00 / 0:07exact quote · 7.5s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“Mid market is probably around, you know, like 20 ish percents. And then I think enterprise is maybe closer to like 15%.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

More from Matt Plank

Opinion
Plank: People calling outbound sales dead lack experience or seek clout
“I think people that say outbound is dead are either one of two things. Like they're either engagement bathing, you know, looking for a reaction on LinkedIn or whatever that they know that there's a whole army of people out there where that's their profession a…”
Matt Plank Dec 20, 2024 ▶ 7:05 Matt Plank, Rippling's CRO: How to Build an Enterprise Sales Machine | E1241 · 20VC with Harry Stebbings
Insight
At $200M revenue, CRO role shifts from closing deals to sales operations
“By the time you get to be maybe, I don't know, two hundred million or something, like your job as the CRO, it completely changes to essentially like head of sales operations. Like you have a great sales operations team, but At some point it transitions complet…”
Matt Plank Dec 20, 2024 ▶ 14:57 Matt Plank, Rippling's CRO: How to Build an Enterprise Sales Machine | E1241 · 20VC with Harry Stebbings
Insight
Plank: Customer success managers cannot be turned into quota-carrying sales reps
“A sales DNA at the core is just, you can get those people to have like empathy for the customer and like understand and care about making them successful, but I don't think you can take a CSM and make them, you know, like a quota carrying rep.”
Matt Plank Dec 20, 2024 ▶ 23:13 Matt Plank, Rippling's CRO: How to Build an Enterprise Sales Machine | E1241 · 20VC with Harry Stebbings
Insight
Plank: A 60-70% sales win rate indicates underpricing or narrow targeting
“You don't want win rates that are 60, 70%. You're either not in enough deals, right? Like you're just way too narrow or your price is way too low. Like, if you win 70% of deals, then, like, that's not good. That's a bad, or at least you could go much bigger, r…”
Matt Plank Dec 20, 2024 ▶ 29:17 Matt Plank, Rippling's CRO: How to Build an Enterprise Sales Machine | E1241 · 20VC with Harry Stebbings
Disclosure
Plank: Rippling account executives have zero outbound prospecting targets
“Outbound SDRs own the quota. Like they schedule the demos. If you're a rep at Ripley and you have zero, like actual prospecting targets.”
Matt Plank Dec 20, 2024 ▶ 44:18 Matt Plank, Rippling's CRO: How to Build an Enterprise Sales Machine | E1241 · 20VC with Harry Stebbings
What-if
Plank: Rippling couldn't compete in niche verticals without specialized reps
“Had we not done that, We never would have been able to compete in these kind of, like, hyper-competitive, like, vertical spaces like finance and global payroll”
Matt Plank Dec 20, 2024 ▶ 1:10:13 Matt Plank, Rippling's CRO: How to Build an Enterprise Sales Machine | E1241 · 20VC with Harry Stebbings
Made with StarZero

Turn any episode into a week of clips.

This entire site, over 1,200 episodes transcribed, diarized, checked and made playable, runs on the StarZero media pipeline. Drop in your own episode and the podcast clipper finds the moments worth sharing, cuts them, captions them, and reframes them for every feed.