Monday.com pricing: top negotiation tips
Aimee Manning | SEP 29, 2022
With a level of flexibility unmatched by most competitors, visualization capabilities, and support for integration with a multitude of other apps, it’s not surprising that monday.com has managed to infiltrate a saturated market with ease. The company reported a whopping 75% increase in revenue in the second quarter of 2022 alone.
While you may be tempted to join the monday.com revolution and make it your project collaboration tool of choice, as with any software purchase, cost will likely be a major consideration.
But just how willing is monday.com to provide a discount on its pricing? And what can you do to ensure you’re securing the best possible deal on your subscription?
Let’s find out.
How much does monday.com cost?
While 55% of SaaS companies choose not to publish their costs, monday.com is one of the few that does disclose pricing — at least across most of its pricing tiers, that is.
So, how much exactly does monday.com cost? And is there any wiggle room in the price?
monday.com pricing plans
If you’re looking to secure a discount with monday.com, it’s worth familiarizing yourself with all five of the company’s pricing plans:
Like most vendors, monday.com offers a free version for customers requiring fewer features — be it anyone looking to make personal to-do lists or self-employed workers seeking to keep their projects organized. This plan provides a maximum of two seats or, in other words, licenses — making this option less suitable for teams.
monday.com’s Basic plan is designed for teams that don’t necessarily need any fancy features, but still want to collaborate on projects. When it comes to the cost, this Basic plan will set you back $8 per seat, per month when billed annually. However, if you want the flexibility to cancel at any time, then you’re looking at a monthly cost of $10 per seat.
If your business demands extra features that will enable better collaboration, it’s worth knowing that monday.com offers a Standard plan for precisely this purpose.
It includes Gantt charts and timelines, calendar views, automation, and several other features that are not available in the Basic or Individual plans. When paid annually, this plan costs $10 per seat, per month, or $12 when paid monthly.
Companies with more complex workloads may want to consider opting for the Pro plan. Not only will it allow for far more automation capabilities and integrations than the Standard tier provides, but it also supports formulas, time tracking, private boards, and many other features that are necessary for more complex work. The price listed for the Pro plan is $16 per seat, per month on a yearly payment schedule, or $20 on a month-by-month basis.
Up until this plan, monday.com has been relatively transparent with its pricing. But as with many other project collaboration software vendors, this is where the cost becomes more complex.
The main reason for this is because Enterprise-level plans are rarely out-of-the-box solutions. Instead, they’re often far more tailored to the needs of an individual company, making it difficult for vendors like as monday.com to offer a one-size-fits-all price.
But this does mean that pricing becomes more flexible at this level. In other words, this is where it becomes easier to negotiate better pricing and contract terms.
Want to know how much other companies are paying for Monday.com’s enterprise-level plan? Have a look at our latest report.
What are the chances of getting a monday.com discount?
Given that buyers have been found to overpay for their software applications by as much as 20-30% — we’re not just talking about monday.com here, we’re talking about all SaaS vendors — there are almost always opportunities to negotiate a better deal.
But what are the best negotiation tactics?
Commit to a longer subscription
Like many vendors, monday.com offers an inherent discount for annual subscriptions. But while opting for yearly billing will save you some money, you can also increase the discount by committing for the long-haul.
In fact, our data suggests that SaaS vendors typically increase their discount by 5% for every additional year you subscribe to. What’s more, 89% of project collaboration vendors, including both monday.com and Asana, offer discounts based on term length.
It is, however, important that you’re considering the long-term needs of your business during negotiations. For example, is it likely that you will still be needing a tool of this kind 2-3 years down the line? And if you foresee a major growth in personnel in the near future, will your contract still accommodate this when the time comes?
Negotiate with leverage
It’s far easier to negotiate the cost of a monday.com subscription when you’re armed with leverage. By leverage, we mean an understanding of how flexible monday.com is with regards to its pricing, as well as how much other companies are paying for the software.
But it’s not just the price you should be negotiating on. It’s also the contract terms, such as the length of the contract, the notice period, and even the removal of any auto-renewal clauses. In fact, this should be the case regardless of whether you’re a new customer, or renewing your subscription.
Let Vertice secure the best price on your behalf
When it comes to negotiating the best possible price and contract terms, leverage is key. But obtaining this leverage can be difficult, time consuming and expensive.
This is where we come in.
With access to the pricing points and transactions of thousands of software vendors, combined with a team of expert SaaS negotiators, Vertice can take the burden of purchasing or renewing your monday.com subscription off your hands.