how to manage your sales territory
Post on 22-Jan-2018
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How
to manage
your
sales territory
with Steve Benson
Badger Maps
www.badgermapping.com
Sales territories ensure effective usage of salespeople
Effective allocation of resources and time
STUDIES SHOW THAT PROPER SALES TERRITORY MANAGEMENT IMPROVES SALES PERFORMANCE as it ensures ...
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However...
...many sales managers and sales reps
overlook the importance of proper sales territory management.
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Effective way to divide up a company’s salesforce
What is Sales Territory Management?
… by assigning customer groups to individual sales reps.
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Usually, sales territories are defined by
What is Sales Territory Management?
Competitive activities
Sales history
Geographic location Customer names
Sales potential
Or other metrics
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Major BENEFITSof proper
SALES TERRITORY MANAGEMENT
3
Increasecustomer satisfaction
Optimize Market Coverage
Increase
Sales
Productivity
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A good territory structure will
Reduce travel time and costs
Increase customer satisfaction1
Every interaction with customers impacts their experience with your product & in turn affects customer satisfaction.
Allow you to spend more time interacting with customers
Allow you to foster strong customer relationships
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Increased selling time & targeted customer relationships
CUSTOMER SATISFACTION
REPURCHASE INTENTIONS
CUSTOMER LOYALTY
POSITIVE WORD OF MOUTH
= EXTENDED CUSTOMER BASE
Increase customer satisfaction1
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InfoQuestwww.badgermapping.com
YOU will get 14 TIMES MORE REVENUE
from a“TOTALLY SATISFIED
CUSTOMER” THAN FROM A
“SOMEWHAT DISSATISFIED” ONE.
Optimize Market Coverage2
When managing your territory you need to take into account the quality of leads.
Don’t over-service low-potential accounts & don’t under-service high-potential leads.
This helps you prevent wasting time and efforts on low-potential accounts.
Improve market coverage through better targeting and detect customer coverage gaps that need to be filled.
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of opportunities lead to “no decision” - CSO Insights
60%
Sales teams are experiencing low rates of converting leads to decisions.
Increase Sales Productivity3
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Prioritize your work to maximize selling momentum
That’s why it’s so important to add VALUE to your customer conversations
Spend more time in front of your customers to learn more about their pain points and provide a relevant value proposition
Achieve higher conversion rates with better buyer/seller conversations ur sales team will achieve
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HERE
Learn why BALANCED Sales Territories are beneficial to your sales team
CLICK HERE
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6 steps to effectively MANAGE your sales territory
Understand your customers
Prioritize
Remember the big picture
Leverage your network
Review and realign
1
2
4
5
6
Master your rotation plan
3www.badgermapping.com
Prioritize
Master your rotation plan
Remember the big picture
Leverage your network
Review and realign
2
34
5
6Understand your customers
1
Segment your customer base
… to get a concrete view of the territory you are serving.
… to give the appropriate amount of attention to different customer types.
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Classify your customer database
Understand your customers
1
Prioritize
Master your rotation plan
Remember the big picture
Leverage your network
Review and realign
2
34
5
6 What types of customer accounts do you already have?
What prospects do you want to service in the future?
Which clients need to be serviced more frequently?
What is their preferred method of communication?
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Managing sales territories is a balancing act between time & exploiting opportunities
MAKE SURE YOU USE YOUR TIME WISELY
Master your rotation plan
Remember the big picture
Leverage your network
Review and realign
34
5
6
Understand your customers
1
Prioritize 2
Prioritize 2
Identify who requires MORE or LESS attention
Prioritize your schedule and delegate efforts accordingly
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Focus on your most valuable accounts
Estimating sales potential for your accounts is a good way to prioritize your efforts and spending your time with the right customers.
Invest your time in leads that are more promising, so you don’t pursue a dead end.
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SALES POTENTIALfor your accounts will give an impression of their maximum possible spending with your product
Try to find out:
How much are current customers spending on your product(s)?
For estimating sales potential, consider employee count, industry type, past sales, marketing momentum, growth opportunities, etc.
What is their buying power?
Are there any “white spaces” that you can “fill”, i.e. unrealised opportunities?
Keep in mind, that sales potential gives you a better understanding of
how much money a customer is likely to spend on your products in the future.
Don’t assume you will capture all of it!
It is not possible to accurately capture all the
factors influencing a customer’s actual spending in the future.
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Remember the big picture
Leverage your network
Review and realign
4
5
6
Understand your customers
1
Master your rotation plan
3
Once you have categorized your clients, you can start to craft amaster rotation schedule
Prioritize 2
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Follow a predictableroutine to establishaccountability checkpoints.
REDUCE common “end-of-quarter” stress
Solidify your schedule at the beginning of the sales quarter.
Map out your plan of attack, a sequence of touching base with your customers.
SIMPLIFY your sales territory management
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Prioritize
Master your rotation plan
Leverage your network
Review and realign
2
3
5
6
Understand your customers
1
Remember the big picture
4
Disappointment is a reality of sales.
BUT "if you learn from defeat, you haven't really lost."
Zig Ziglar
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If I only got that sale...
Don’t sacrifice opportunities by mourning for that one lost sale.
Move forward and get ready for your next deal. ● Take rejection as a chance to do it better
next time● There are always bigger fish out there for you
to pursue
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Prioritize
Master your rotation plan
Review and realign
2
3
6
Understand your customers
1
Remember the big picture
4
Leverage your network
5
The relationships you foster throughout your sales process are critical to salesterritory management.
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“Loyal
customers,
they don’t just come
back, they don’t simply
recommend you,
they insist that their
friends do BUSINESS
with you.”
Chip Bell
If you pay enough attention to your existing clients, youmay ultimately strengthen your sales network &contribute to your customer base.
Cultivating bonds with customers couldeventually connect you with other potential LEADS.
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Prioritize
Master your rotation plan
2
3
Understand your customers
1
Remember the big picture
4
Leverage your network
5
Review and realign
6
Market dynamics cannot be kept outside the borders of your sales territory.
Therefore, you will need to review& occasionally refine your plan of action
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Respond to changing business or market situations, such as new product launches, new target markets, etc.
Who are your strongest customers? Are you still on track to
hit your overall goals? What prospects do you want to add to your accounts?
What techniques helped you to close deals?
What is the best sellingproduct?
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PERFECT!
DEAL?
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