Sales team the key revenue generator
The Yellow Pages, in business for over 50 years, might seem a monopoly. The fact is the company is facing intense competition from information Web sites, trade magazines, newspaper and even consumer magazines. After a few changes in ownership, the Yellow Pages is now owned by PCCW Directories (a PCCW company).
'Based on recent research and studies, we found that the usage of our product is very high and increasing. We put a lot of resources into improving the product and distribution channels to make them more user-friendly. The Yellow Pages business is a proven model in the international as well as local marketplace,' says Aley Chang, vice-president of sales, PCCW Directories.
The company relies totally on the advertising revenue of its publications, the flagship Yellow Pages, Internet Yellow Pages, trade professional directories, and tourist guidebook. As a result, the sales team is the key revenue generator, which now employs 150 professionals in Hong Kong.
'In the coming year, we will hire additional staff for business expansion. This is a people game, the better people we recruit, the higher return we will get.'
The company is in need of candidates with strong initiative, whether they are from the publication industry or not.
'We do not particularly need candidates from in-trade. We need people who have the ability to sell and, most importantly, be able to maintain a high level of work consistently. Hard work is of the utmost importance.'
A very demanding but challenging job, the sales executives have to report and meet a daily revenue quota. It sounds difficult, but they do have a fairly high closing rate - 70 per cent of a single meeting leads to a deal being closed. In order to achieve the goals and targets, the company offers excellent training to its sales team.
'We have in-house trainers and we put a lot of resources and effort into it. Our sales training is probably one of the best in town. Some of the insurance pioneers had started their sales career with us a long time ago.'
The training is advanced, systematic and scientific; it takes care of every detail: from selling techniques and communication to presentation skills. Even the art of grooming is not left to chance.
From an entry level, a senior account executive can progress to account manager, corporate account manager, sales manager, division sales manager and head of sales. When they move up the ladder, additional responsibilities are added; they could be devising sales strategies for key accounts, taking up big corporate accounts or managing people.
'This is a sales-driven organisation. Besides daily sales activities, the sales force is also heavily involved in product development. We collect market information and feedback to further enhance our products.'
Staff morale and business performance has improved over the previous years' due to a committed senior management team. The senior managers are not averse to trying out new strategies, whether in improving products and distribution channels, introducing new sales training or improving technology for internal sales and production management.
The Sars outbreak is a good instance of the management team showing its leadership. Within 48 hours, managers made the decision to waive a two-month advertising revenue particularly for their restaurant clients.
'From originating idea, confirming decision, preparing sales letters and having our sales executives present the waiver plan to clients, we made everything happen in two days.'
The management team expects a turnaround in revenue this year.
'We are committed to become the best managed company in Hong Kong and, probably, housing the best sales force.
'Young people can learn so much from the organisation. The exposure to the business world and training received probably cannot be compared with what other organisations can give. It would be certain that one's selling techniques and entrepreneurship could be developed with us.'
