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How To Work With Self-Employed Sales Agents
The document discusses the growing trend of utilizing self-employed sales agents, highlighting their benefits such as reduced costs and access to experienced professionals with pre-existing industry connections. It outlines factors that sales agents consider when choosing job opportunities, with an emphasis on the importance of an attractive commission structure and integrity in company relationships. Additionally, it introduces CommissionCrowd, a platform designed to improve the management and efficiency of remote sales relationships.
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How To Work With Self-Employed Sales Agents
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- 2. Laura McGregor, CommissionCrowdCo-Founder
- 3. Industries & Companiesthat work with self employed sales agents Example Industries Business Financial Consumer Services Services Goods Health Care Manufacturing Example Companies Fact: Over 35% of Fortune 500 companies will utilise at least some outsourced sales in their businesses between now and 2015. High Tech
- 4. Benefits of workingwith self employed sales agents • • • • • Reduced up front costs and risk associated with taking on new paid employees Being able to utilise sales professionals that have pre-existing contacts based on years of experience within a particular industry(s) Not reliant on local talent. Expanding your search can lead you to truly great sales people Enter new markets with the help of agents who already understand key players, culture, issues, competitors and opportunities Professional self employed sales agents usually share the same business objectives as the companies they have working relationships with.
- 5. www.commissioncrowd.com - Bob Alesio,Director of Sales and Marketing at AMCI -
- 6. What is aself-employed sales agent • Entrepreneurs that choose to work for themselves • Have vast sales experience and an existing database of industry specific contacts A self-employed sales agent is not • • • Looks for product/service lines that compliment their existing client base • • Wants to break away from the constraints of employment • • Has drive, ambition and focus • • Aims to build a portfolio of companies they work with Someone so desperate for work they forego a wage Someone that will represent a company with poor products/services Willing to work for low levels of commission Looking for short term/get rich quick partnerships Is NOT an employee
- 7. www.commissioncrowd.com Keith Crispin, Self-employed salesagent for 30 years Rob Leslie, Self-Employed sales agent for 20 years
- 8. Top 10 FactorsSales Agents Consider When Deciding Which Self-Employed Sales Job Opportunity To Take On www.commissioncrowd.com
- 9. CommissionCrowd surveyed anumber of professional Self-employed sales agents and independent sales reps on our database and asked agents to rank the factors (excluding product/service type) they consider most important when deciding whether to work with a company principal or not. www.commissioncrowd.com
- 10. The following 10points will help you think in the same way a professional independent sales rep thinks, and will help you to better understand how to structure your company’s opportunity within your CommissionCrowd company profile. www.commissioncrowd.com
- 11. 1. Honesty &Integrity 2. Communication 3. Management Attitude 4. Reputation 5. Commission Structure & Offering 6. Attitude Towards Sales Reps 7. Marketing & Samples 8. Professionalism 9. Payment 10.Customer Service Note: It’s strange that commission structure only makes number 5 on the list don’t you think? There is much more to this list than meets the eye! Watch our free recorded webinar here and learn how to think like a commission-only sales agent Watch Now www.commissioncrowd.com
- 12. Thinking About YourCommission Structure Getting your commission structure right is essential! You can have the best product or service in the world but if you pay peanuts you get monkeys. In order to attract the best self employed sales agents and stand a chance of growing your business, you must be willing to compensate your agents adequately. Residual Commission Structure Probably the most effective commission structure is the residual commission model. This is when your sales agents are paid a percentage of any repeat orders that come around due to initial business which has been closed by your agent. This is also the case if your services are billed to the client monthly. There are three reasons why this structure works well: 1. Your self employed sales agents will work very hard to close new business and add to their existing commissions. Their earnings have the potential to grow rapidly and it acts as a guaranteed income after a while. 2. Your sales agents will be more willing to manage their own accounts as they will want to keep their commissions coming in for a long time. This frees up more time for managers to concentrate on other areas of the business. 3. You stay top of mind (so long as they also like to work with you) www.commissioncrowd.com
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- 14. Connecting There is alack of understanding Fragmented Industry Expensive and not targeted enough Uncertainty around sales agent/company track records www.commissioncrowd.com
- 15. Managing Existing technology is obsoleteor fragmented Remote working relationships are complex Unsure of pipeline status. Losing leads No oversight on schedule, activity, training www.commissioncrowd.com
- 16. Collaboration Company Information slow to distributeand share Difficult to share learning across all sales agents Difficult and timely to share feedback from customers Control over access permissions and shared documents www.commissioncrowd.com
- 17. INCREASING SALES Multiple reportsin various formats are time consuming Bad first impressions lead to bad relationships Slow sales due to endless reporting and other tasks that take away from selling Poor management stunts growth
- 18. Top Sales Agent Challenges Knowledge, Trust& Communication Commission payments slow, reconciliation difficult Need to spend more time selling and less time reporting Financial risk & pressure Managing multiple lines/companies www.commissioncrowd.com
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- 20. CommissionCrowd is arevolutionary global platform for self-employed sales agents and companies that enables you to connect, manage your relationships and work more efficiently to grow your business www.commissioncrowd.com
- 22. Founders Laura McGregor Co-Founder Alistair Robinson Co-Founder RyanMattock Co-Founder Product Development, Visionary/Architect, Project Manager, Marketer Lead Developer, Sys admin, Toolsmith, Designer Product Development, Customer Support, Marketer, Growth Hacker We are on a mission to change the way that companies manage remote sales teams and salespeople build their independent careers. Our cutting-edge online sales platform enables greater connections, task management, and overall productivity for everyone. It effectively eliminates the wasted time and resources that usually accompany remote working relationships. The networking and portfolio-building features of CommissionCrowd neutralize the risk of partnering with freelance sales agents without any guarantee in their ability to perform. Using CommissionCrowd means that the best self-starters are also able to take their careers into their own hands better than ever before.
- 23. The Solution www.commissioncrowd.com Connect –Attract the best, expand and grow your business Manage – Save time, resource & money View Company Features Collaborate - Eradicate confusion, save time & sanity View Sales Agent Features Sell More - Better processes, opportunities & relationships
- 24. Contact Us Laura McGregor Email: [email protected] Phone:0131 618 2300 Ryan Mattock Email: [email protected] Alistair Robinson Email: [email protected] www.commissioncrowd.com “The difference between try and triumph is just a little umph!” - Marvin Phillips