Interpay provides turnkey solutions that help North American-based merchants quickly expand their eCommerce activities worldwide. Central to the company's success is its multicurrency processing, which allows international shoppers to see complete prices of products and services in their home currency and pay with their preferred local payment method. As a Canadian leader of foreign exchange, micro-processing and global shipping, Interpay wanted to develop their U.S. eCommerce market presence.
"We needed targeted eCommerce data that was accurate and easy to use to help us connect with the right contacts and really break into the U.S. market," said Sam Ranieri, Vice President of Interpay. "With corporate and retail foreign exchange being our core, we've been in the Global Payments industry for nearly 30 years, throughout which we've had to cold call and generate leads using our internal team of direct marketers. We've subscribed to a number of different leads databases for target lists, but we were spending too much time with companies that don't fit our target market. It was also difficult to locate the exact information required to reach the right people."
Interpay discovered etailinsights while searching for a new eCommerce leads prospecting solution. It was immediately apparent that etailinsights offered the most accurate and comprehensive database of eCommerce companies available in the U.S., complete with details regarding retailers' financials, technology vendors and management teams. And a quick demonstration of their web-based solution illustrated exactly how Interpay could search by state, zip code, volume, online revenue and more in order to find the eCommerce executives and online retailers they wanted to reach in the U.S.
"Not only is etailinsights very specific to eCommerce, which is our target industry, but usability is fantastic," said Ranieri. "We were able to integrate etailinsights into our sales process seamlessly and pull data that our marketers need directly into our sales process."
"etailinsights provides the highly-detailed eCommerce data that we need to find the right prospects and connect with decision makers for specific eCommerce retailers," said Ernest Friesen, Interpay's Director of Sales and Marketing. "We don't have to hunt for the relevant contact information or spin our wheels talking to brick-and-mortar-affiliated executives. We have the right names and direct numbers to connect with site owners, Presidents, CFOs, directors of eCommerce and online retail. With etailinsights, the specifics are right there, which saves us a tremendous amount of time and effort."
"Leveraging etailinsights Annual Online Revenue search tool, we were able to segment the market and target retailers in our sweet spot," said Friesen.
Moreover, etailinsights provides valuable data regarding smaller retailers that are often overlooked. "It's easy to go after the bright lights and flashy names of the large eCommerce companies, but etailinsights gives us the insight required to connect with all levels of online retailers from Enterprise, to Mid-Market, to even the smallest of retailers, all of whom could really benefit from our solution," said Friesen.
etailinsights has increased efficiency so much that Interpay has drastically exceeded their revenue goals: "We've seen a minimum of 8 to 9% difference in the call-to-lead ratio versus using other subscription-based solutions," said Friesen.
Using etailinsights, Interpay's direct marketers make fewer calls and achieve higher rates of success. "The expectation for Interpay Account Development Reps is that they make at least 60 calls per day and they reach an average of 20 to 30% on the phone. Of those, we're converting nearly 50% into active opportunities," said Friesen.
etailinsights is also helping shorten the sales cycle by providing accurate contact information and consultative questions for Interpay's sales people to ask.
"We recently moved a prospect from first contact to close in less than two weeks," said Friesen. "We are incredibly pleased with the results and will definitely continue to use etailinsights," he said. "In fact, we're encouraging our partners to use etailinsights as well."