Beyond the button. Changing the perception of PayPal.
Challenges
- Misperception that PayPal is just a “button”
- Recessionary pressures
- Attracting new enterprise accounts
- Growing share of wallet of existing enterprise accounts
- A broad range of personas and industries
Results
PayPal’s Enterprise business grew 79% in volume last year and 61% in Q1
Out of their top 55 merchants, PayPal increased business with 17 of them
The universal challenge:
Navigating the post-COVID e-commerce slump
During the heat of the COVID pandemic, PayPal’s stock rose from $110.75 to $308.53 per share. The meteoric rise was powered by COVID relief checks and social distancing regulations that forced consumers to shift from brick-and-mortar shopping to e-commerce. In the post-pandemic era, PayPal stock fell precipitously due to rising competition and the slowdown in the economy.
The marketing challenge:
Overcoming misperceptions of PayPal
Over the past few years, PayPal expanded its offerings by acquiring several large companies including Venmo (peer-to-peer payments), Honey (shopping rewards), Braintree (global commerce) and Simility (AI-based fraud prevention). These acquisitions form a complete suite of solutions designed to help businesses acquire, grow, and retain customers. However, most enterprises still view PayPal as merely a payments button. So PayPal hired BOL to promote their full stack of capabilities.
The solution:
Re-education through hyper-personalized ABM messaging
BOL launched the “Beyond the Button” campaign aimed at highlighting the surprising ways PayPal can help enterprises grow and thrive. The campaign includes dozens of highly personalized landing pages, ads, videos, articles, infographics, emails, one-sheets, and OOH boards.
Bringing the campaign to life
PayPal works with a wide range of industries. There are typically multiple decision-makers and influencers who have vastly different pain points. To ensure we delivered compelling and relevant messages to each person, we created industry-specific campaigns, persona-specific campaigns, and 1:1 ABM campaigns for the highest-value accounts.
- Bespoke industry-based campaigns
- Empathetic persona-based campaigns
- Hyper-personalized 1:1 campaigns
Check out the results:
According to PayPal CEO Don Shulman, PayPal’s Enterprise (formerly Braintree) business grew 79% in volume last year and 61% in Q1. And, despite stiff e-commerce competition, PayPal gained share-of-wallet with 17 of their top 55 merchants and remained even with 33 of them. That’s a retention rate of over 90%.
Stand out creative. Outstanding results. What can BOL do for you?
With over 420 million active customers, PayPal is the largest online payments platform in the world.
79%
business volume growth
90%+
customer retention rate