Companies with many workers and representatives need a proper system to know who handles what. For this purpose, they use online territory mapping to organize their sales team’s activities. Territories may include industries, regions, and account types assigned to a specific sales team. Representatives are then responsible for managing and connecting with all accounts, leads, and prospects within the territory and meeting their overall sales targets and revenue. Most teams use online territory mapping software to get the job done.
Sales Territory Mapping Software
Sales territory mapping software can help expedite assigning of territories to salespersons. This process was previously performed using physical maps or Excel spreadsheets, which could take a lot of time.
A sales territory categorizes customers, leads, and prospects into locations, industries, or account types. The size of a territory should be adjusted so representatives can manage the area and hit the sales targets appropriately.
Businesses should ensure that they are defining their sales territories based on their unique priorities and goals. Then, shortly after, they can map their territories to let the team see where they should go and who they need to contact.
Steps to Making a Territory Map
The process mainly involves three steps. Let’s go through them one by one here:
Step 1: Creating the Customer Segments
In the first step, you should define your customer segments in four ways below.
Location: Categorizing the customers based on their geographical area can help sales reps manage the accounts regardless of their size or account type.
Size: This method categorizes similarly-sized businesses in the same groups, usually according to the client’s annual revenue or annual spending on your business.
Industry: This is also possible to organize the business customers based on various sectors such as education, healthcare, etc.
Hybrid Approach: This method is used to segment different sales reps in various industries with different sizes and locations. The hybrid approach is harder to set up but is helpful for large teams.
Step 2: Defining the Territories
The next step is to group your customers into territories. To do so, you should consider some factors. First, you should review the distribution of accounts to see how many exist in each territory and whether it is an even distribution.
Then, you need to see if there are enough potential prospects in the territory for your reps to succeed. The last step is to review your overall business presence to determine how your team can interact with prospects, serve your customers’ needs, and generate new customers and leads.
Step 3: Making the Assignments
The last step is to assign sales reps to your territories. You can do this in two general ways: assigning reps to territories based on their expertise or location.
Consider assigning a rep who is an expert in a specific field to a territory where most businesses are active in that field. Alternatively, you make assignments based on their location to eliminate commuting issues. Of course, you can also use both methods.
Benefits of Using Sales Territory Mapping Software
Using sales territory mapping software comes with several benefits. First, you save time by eliminating numerous repetitive tasks such as creating new territories, naming them, assigning reps to leads, and more.
The software can also motivate your team members as they can see exactly who they need to reach and their targets. Moreover, the software helps reps understand their boundaries and determines what customers they are responsible for so there are no overlaps.