The gig economy, pull factor of Virtual Sales

When talking about the change of the working ecosystem, the gig economy is always a hot potato. 2018 APAC Workforce Insights mentioned there is a trend that people looking for work today are more likely to be seeking flexible contract-based roles than traditional permanent full-time roles. The reasons include people who value flexible working, looking for more interesting work and looking for a role that is more suited to their specific skills (PERSOLKELLY,2017). In generation Y, they see remuneration as the main reason for work. Now, generation Z, wants to gain instant recognition, instant feedback and instant work-life balance. For the company, working with gig-workers can save costs in hiring and administrating. Around the Asia Pacific, surprisingly, Hong Kong is the most prevalent in gig-workers(PERSOLKELLY,2017).

Gig-working brings along with advantages

COVID-19 makes WFH easier to adopt in companies. Plus the gig-economy, many job nature have been changing. The sales industry is one of them. Compared to having lots of cold calls, Virtual Sales are a new model to create business opportunities. They come from different sales backgrounds and networks. Their diversified, reliable and trustworthy social networking gives a variety of sales leads to the companies they serve.

Moreover, they get commission only when they create opportunities and promote your brand. Therefore, they will put more effort. Thus, adopting the new sales model is more cost-effective than hiring full-time permanent salespeople.

Virtual sales have great potential to expand business for companies

Virtual Sales is not just a trend but the way we work in the future. Companies no longer necessarily have a team of full-time salespeople working in the office. A two-year study carried out by Great Place To Work, surveyed 800,000 employees from Fortune 500 about the performance when WFH (March to August of 2020). Most of them reported that their productivity level keeps stable or even increased compared to work in the office(same six-month in 2019) (Kazi,2021).

Globally, online freelancing platforms like Upwork and Freelancers Union show that the freelance workforce in the United States is growing three times faster than its workforce. By 2027, the majority of workers in the United States will be gig-worker (Caminiti,2018). With the wave of gig-economy, it is obvious that sales work is moving online and everyone can make good use of their social network to bring revenue to companies, KOL in B2C market is one of the successful applications. In the B2B market, the demand for a new sales model is increasing but their requirement is even more. Companies always want to expand their sales team to reach out more prospects and the most desirable requirement is having the flexibility to choose, add and/or switch salespeople quickly in order to align their growth strategy. In reality, it sounds like a mission impossible but Virtual Sales does.

References

Bradshaw, R. (2021, June 30). Surprising Working From Home Productivity Statistics (2021). Apollo Technical LLC. https://www.apollotechnical.com/working-from-home-productivity-statistics/

Caminiti, S. (2018, October 29). 4 gig economy trends that are radically transforming the US job market. CNBC. https://www.cnbc.com/2018/10/29/4-gig-economy-trends-that-are-radically-transforming-the-us-job-market.html

Kazi, C. (2021, February 10). Remote Work Productivity Study Finds Surprising Reality: 2-Year Analysis. Great Place to Work®. https://www.greatplacetowork.com/resources/blog/remote-work-productivity-study-finds-surprising-reality-2-year-study

PERSOLKELLY. (2017, October). 2018 APAC WORKFORCE INSIGHTS (No. 16). https://www.persolkelly.com/media/persolkelly/client/2018%20APAC%20Workforce%20Insights%20-%20Q1/PERSOLKELLY%202018%20APAC%20Workforce%20Insights%20-%20Gig%20Economy%20How%20Free%20Agents%20Are%20Redefining%20Work.pdf

Salesforce. (2021, May 20). Virtual Sales Is Here To Stay – The Latest Research Tells Us Why. The 360 Blog from Salesforce. https://www.salesforce.com/blog/virtual-sales-research-blog/