70: Ramp Co-Founder and CEO Eric Glyman- disrupting incumbents by realigning incentives
The “Good Guys” of the credit card industry, Ramp’s goal is to actively help customers spend less. We often are excited by reward points and bonuses when using a credit card; however, these incentives often delude us into spending more. Co-Founder and CEO Eric Glyman embarked on his mission with Ramp after discovering how customers were being deceived. The avid StarCraft player joined hosts Scott and Andrei to describe the misalignment between what customers want and what their credit card gives them- and how you can avoid it. Listen in to become a smarter spender and learn about a company disrupting a space dominated by incumbents. Here are some quick takeaways: When services such as expense management are generally provided at a cost, offering it for free is an effective way to secure a foothold in a market Banks and consumers have inherently different goals- understanding this is the first step in becoming a budget savvy person In marketing efforts, directly show how your product or service addresses a customer’s needs rather than how other companies are lacking Be strategic with hiring- talented individuals often run in the same circles Don’t crush the butterfly- acquiring a company should be a delicate process to integrate the two entities