29 - How to manage discounts and special terms with an Empowerment Matrix

Giving special terms to customers, such as discounts or payment plans, is a tried and true method of acquiring new business, maintaining and bolstering relationships, and an important facet in achieving T2D3 growth. As a member of the executive team, you can usually do this whenever you like. But what flexibility should your sales, customer success, marketing, or other teams have to make decisions around discounts and concessions? When are they (or anyone else) empowered to change terms or conditions and to what extent? Today we’re talking about what we like to use to standardize this process: what we call the empowerment matrix – a single source of truth for all your team's special permissions. In the episode we cover a wide variety of topics relating to the matrix, including why it’s so important, when to create one, what it looks like, and even niche cases of special agreements like OEM deals, or the true up licensing model. Some key points: 1. The matrix is an important instrument when it comes to growing customer acquisition, reducing churn, and increasing revenue per unit. 2. Keep in mind that when giving something away, you must make sure you are getting something in return. With that being said, there is a lot to be gained with special deals, and a lot to gain from empowering team members to make them.