LinkedIn Sales Navigator_PayPal_Case Study
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PayPal was looking for a way to provide more accurate sales leads and reduce their sales cycle. They used to purchase rich data on companies but found it was often stale and expensive. Using LinkedIn Sales Navigator, PayPal can search for the right contact at a company using just their name. This eliminates expenditure on rich data and speeds up the sales process. Sales Navigator also allows PayPal to engage with multiple contacts at a company, reducing risk and further shortening sales cycles. PayPal achieved almost 3000% ROI using Sales Navigator and reduced their average sales cycle by 25%.
LinkedIn Sales Navigator_PayPal_Case Study
- 1. Sales Solutions PayPal Case Study Navigating to the Right Contact Every time “We use LinkedIn Sales Navigator for every single deal”. Paul Weingarth Head of Field Sales, PayPal Australia Objectives: • Acquire more accurate sales leads • Minimise data scrubbing • Speed up the sales cycle Solution: • Eliminate expenditure on rich data • Utilise Sales Navigator for every deal Why use LinkedIn? • Navigate directly to decision makers • Find up-to-date and noteworthy contact details • Generate new leads with an inexpensive approach Results: • Achieved almost 3000% ROI • Reduced sales cycles by 25% • Multiple threading allows access to several key contacts within a company More than 5.5 million Australian consumers rely on PayPal when transacting online or on a mobile device. PayPal’s digital wallet enables consumers to purchase with security, flexibility and convenience. PayPal is now accepted by most of Australia’s large retail websites and the company is striving for PayPal to be a payment option for consumers, anywhere, anytime and any way they choose to transact. Head of Field Sales at PayPal Australia, Paul Weingarth, was looking for a way to provide his team with more accurate leads and a solution to reducing the sales cycle. Weingarth says, “Time is money in our business so the longer it takes us to acquire a merchant, the greater the opportunity cost.”. More Valuable than Rich Data Prior to using Sales Navigator, PayPal would acquire leads from several data sources. The leads would slowly move through the funnel but the process wasn’t optimal. Weingarth explains, “We used to purchase rich data on the top 1000 companies but often the data was stale and not accurate. There was also data scrubbing and it was an expensive process”. LinkedIn revolutionised the sales process at PayPal making it easy for the sales team to find the right contacts. Weingarth says, “We don’t need all that rich data, just a company name and then we go to LinkedIn, search and find the right person. It reduces sales cycles and provides more opportunities”.
- 2. Two or More Contacts are Better than One For the sales team at PayPal it was once a singular contact approach, finding the right person, building a relationship and attempting to close the deal. Weingarth explains, “We found that our deals were at a higher risk and were taking longer to close as we only had one key contact that we could rely on”. Sales Navigator enables multiple threading so PayPal can engage multiple contacts in multiple departments. PayPal can also quickly identify the work history and experience of each contact, discovering information that can resonate during the business development communications. Weingarth adds, “This approach gives us more control which is critical for close rates and shorter sales cycles”. Copyright © 2012 LinkedIn Corporation. LinkedIn, the LinkedIn logo, and InMail are registered trademarks of LinkedIn Corporation in the United States and/or other countries. All other brands and names are the property of their respective owners. All rights reserved. “I’d absolutely recommend Sales Navigator to any sales organisation. It’s a fantastic tool”. Paul Weingarth – Head of Field Sales, PayPal Australia LinkedIn Sales Solutions To learn more please visit http://sales.linkedin.com or www.slideshare.net/linkedin-sales-solutions A Thought Leadership Tool with Outstanding ROI At an investment of $10,000, Weingarth estimates that Sales Navigator brought in at least $300,000 of new business within its first year. In addition to this, the sales cycles at PayPal have been reduced by an average of 25%. PayPal have changed their mindset towards LinkedIn as Weingarth explains, “We used to see LinkedIn as an online CV but we have realised that it’s a thought leadership channel and a shop front for contacts”. He adds, “I’d absolutely recommend Sales Navigator to any sales organisation. It’s a fantastic tool and it’s transferrable to any sales role”.