Case Study: $1 Billion IPO for Paylocity.

Case Study: Paylocity

Background

Paylocity is a rapidly growing national payroll provider. As part of their growth plan, Paylocity licensed the rights to the state of New Jersey to a well-respected leader in the payroll industry.

Challenge

Paylocity’s management realized when their salespeople focused on prospecting, they were not working efficiently. With that understanding, Paylocity sought the services of a number of outsourced call centers, none of which provided quality appointments or generated a return on investment (ROI).

At the end of 2008, they turned to SalesRoads to create a customized cold calling script and approach to schedule highly qualified appointments for their salespeople.

Solution

SalesRoads worked to develop a clear and concise value proposition to easily convey the value of the client’s services. Additionally, SalesRoads created HTML emails to send to interested prospects who needed additional collateral before committing to an appointment, and nurturing emails to bring prospects deeper through the sales pipeline.

Finally, to ensure that their salespeople are not overbooked, SalesRoads enabled each salesperson to sync their calendar in real-time with their appointment setting calendar.

SalesRoads also worked with Paylocity to determine a set of parameters that each new opportunity would need to fall under, as well as a vetting process to get the most data possible from each call; not just the calls that resulted in an appointment. This data allowed SalesRoads to determine the key demographics that a qualified prospect would fall into and target those companies exclusively.

Results

  • 600% overall ROI is generated for Paylocity.
  • Reduced overall new client acquisition cost.
  • Paylocity went public, with an IPO valued at nearly $1 Billion.

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