Ascent Solutions

Voucher companies - flash in the pan, or a game-changer?

Are voucher codes similar to feng shui – ie a complete load of nonsense that will quickly fall from grace? Well, it would seem not, given the floatation valuation of Groupon earlier this year in excess of $20billion. Do I use them to buy my Christmas gifts? Not yet but then I’m not much of a shopper – but I am keen to save money if I can do so.

But what’s it like to work for the likes of Groupon, Living Social, KGB Deals and Travelzoo? Well we used to recruit for a voucher company earlier this year and placed some really talented media sales professionals with them – at all levels from telesales, to field sales through to senior management. However, hardly any are still working there.

The fact of the matter is that if you’re not tough enough or good enough to work in an environment that is faster than the speed of light then you’re not going to cut it as a success in these organisations. They throw money at fantastic offices, have pool tables and table tennis to off load steam, but the culture is very much work hard / play hard. These deal companies are essentially in almost permanent “start up mode”, trying to cover as much ground as quickly as possible and therefore, demand a ‘start up’ level of commitment from their staff, and for people who thrive on that, they are the perfect environment

However, it seems to me that either these American-style cultures are just too fierce for us Brits or, perhaps, the majority of media sales organisations have simply been offering a way too soft culture for too long. I met people that have worked at the likes of Groupon who previously had worked successfully at big media companies and the consensus was that they were let go abruptly by the voucher companies, but they explained that in a more ‘British’ organisation, they would have been given a nudge that they were underperforming and would have been given a lovely HR led, soft style approach over a few months to a year to get things on track. Does that mean that our mainstream B-B media companies are good hiding places for average salespeople that rely heavily on their market leading brands, rebooking existing clients with a friendlier ‘account manager’ style approach?

Or have the Groupons of the world got it hugely wrong in that they demand way too much from their sales staff?

The Yellow Pages of old used to have a similar culture – 9-6 you’re out on the road meeting and presenting to clients all day, selling on the spot to get a buy or a deal signed up there and then by a naive restaurant owner or hairdressing salon. Then you would be expected to head home and do all your admin and lead sourcing so that you have a full day following. It wouldn’t be worth the breath you breathe should you decide to clock off at normal hours and go into work the next day with an empty diary. And it appears from this side of the fence that its similar work ethic needed from our American owned voucher companies.

Now, it’s not all bad because some months she earned in excess of £4,000 commission – IN ONE MONTH! Not bad eh? In addition to that she described her Groupon experience as ‘brilliant’ – so what was so fantastic about working there? Well, the people around her were completely inspirational and all legendary at what they did. She got on really well with her manager and the exit from the company was not an easy decision.

For those happy to cruise through a career, the solution used to be to get a job in a large UK based media company. However, the American approach that these voucher companies are bringing to the market has raised the bar – nearly all of the larger, more traditional media owners that we recruit for are looking for those hungrier, more driven sales people as well and are undertaking a huge push to make sure that their businesses is staffed only by those with the right kind of attitude.

However, I still think that those looking to push themselves are more likely to find a challenge befitting them in a more American-style environment. We’re currently recruiting for KGB deals and I visited their offices last week – I was blown away with the speed of growth and buzz about the place. So if you think you’ve got what it takes and want to throw yourself into an environment that could consume your life for a time, but give you a wonderful ride along the way earning a shed load of money, then maybe the voucher companies are a good bet? If so, I’d definitely be interested in hearing from you!

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