A productive sales representative is in front of the customer 1 day per week.
One in ten companies experiences sales staff turnover rates above 55%.
The average time to induct a sales representative is 5.3 months.
One day, the general manager of a European company came to me with frustration:
"Liang, I hired two full-time sales reps to increase our revenue in China. It took me 6 months to bring them up to speed, and I gave them another 6-12 months to build the client relationship. However, they both left within two years and took my key accounts with them. One of them went a competitor; and the other became my competitor. How can my business grow without hiring sales?"
Coincidentally, just the day before, one of the sales he referred to called me and he said:
"Liang,having clients that trust me and follow me, I am welcomed everywhere, so I became my own boss. As much as I want to monetise my network, I only have a couple of products in my suit cases, but the clients want to buy everything from me, and they all have different needs. Where may I find solid sales opportunities?"
One day, our Inside Sales identified that a manufacturer wanted to build a new factory near Shanghai, and we happened to be retained by a project engineering and management firm to extend their sales in China (our principal). We noticed that one of our agents, Wong, who owns a General Contractor business, had previously done businesses with the prospect, and he helped us setup the appointment. We invited Tom – our principal and Eric to join the appointment. Eric has been one of our most successful sales agents. Apart from his expertise in key account management, Eric loves smoking, drinking and karaoke after 12am. To me these are the quickest ways to death, but I decided to let Eric do what he enjoys doing.
Our contingency sales team engages prospects with one objective in mind – deal closing. When the deal is closed, they each go separate ways, until the we assemble them again when the next prospect rises.
With the rise of employment cost in China, companies are looking for alternatives to grow sales. At the same time, sales representatives are being squeezed by their employers because of the rising new technologies such as digital marketing, e-commerce, artificial intelligence, and virtual reality. Research shows that within years, 85% of the decision makers will have made their decisions before they engage a sales. We think there will be a lot of full-time sales reps that will have to become self-employed. Everyone have a network, and everyone wants to monetise their network and skill sets.
“Customer will not come because you are there;
you have to make them come, and it’s harder than it looks”
"Sales will either cost you money or take up all your time."