For effective sales management, it is crucial that particular attention is given to every territory assigned to the salesperson for generating revenue. After all, the turnover of the customers would be directly affected by the ways a particular area is maintained, managed and planned. The territory not only forms a ground for the existing customers but also happens to be the breeding ground for potential customers. Let us take a look at some ways that can ensure lucrative sales territory planning.
Understand the Customer Base
The first step towards the establishment of a sales territory is analyzing the current customer base. This analysis would include not only looking at the results of the previous year but also reviewing all the possible data available. Start by agreeing on the coverage model and how the market needs to be targeted based on the footprints left by the competitors.
The best distribution for a sales territory is the one which has equal opportunities for retaining the current market and luring new clients in for business. This method would not only help with sustainability but also allow for better future revenues.
Learn from Competitors
One of the best ways to capture a territory is to understand the sales play which has been laid out by the competitors there. This information would allow ample opportunities to learn from their mistakes and build on the methods that helped them succeed.
Work with Sales Team
The best way to get started is to hire the sales representative who is familiar with the territory in question. It will not only give a better start but also be helpful in formulating a strategic sales play. Ensuring that the tech, sales and the services team are working in close collaboration in this situation is crucial as well.
Have a Plan
Starting from the objectives to the targets that need to be met, everything should be properly communicated and planned. This way the aspirations will serve as a goal the sales teams would have to achieve in the territory assigned to them. Creating a sense of accountability and responsibility here will get better results where each member is appointed tasks and is responsible for accounting for them.
To help make the process of territory mapping and planning more impactful, log in to the website today. We will help you not only design but organize and plan your sales territories to bring maximum benefit to your business.