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”.

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”.

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”. 

About Paypal Australia

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 anyway they choose to transact.

INDUSTRY: Internet
NO. OF EMPLOYEES: 18,000+
HQ LOCATION: San Jose, CA
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In their own words...

“I’d absolutely recommend Sales Navigator to any sales organisation. It’s a fantastic tool”.

Paul Weingarth, Head of Field Sales, PayPal Australia

 

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