The secret to sales success involves many factors, such as the skill and perseverance of sales representatives. However, one of the most important contributors to maximized revenue is a sales territory plan.
A sales territory plan refers to the strategy used by a business to target and approach leads, prospects and existing customers. As with any successful business plan, a sales territory plan serves as a blueprint to demonstrate how the business will transform a region into a profitable venture.
When developing a sales territory plan, there are several important questions that businesses should ask:
1. Is Your Sales Team Targeting The Right Customers?
Businesses should never overlook the importance of getting to know their customers. Analyzing business prospects and customers help businesses to gain a better understanding of what their target audience is looking for and what sets them apart from other consumers. By using past sales data, a business is able to determine who the most lucrative prospects and customers are by region, industry and product. Also consider which prospects and customers create the biggest opportunities for the business — these are the target demographic.
2. What Long-Term Goals Will Your Plan Focus On?
A sales territory plan should be hyper-focused on reaching a business’s end goals. When building a sales territory plan, create a list of organizational goals and determine the best approach to sales using information from recent industry trends. When establishing long-term goals, consider the organization’s vision and mission and how to best align goals and objectives. Also consider its current conversion rates and how long it will take to reach certain goals based on sales history.
3. Are You Keeping Up With Seasonal Sales Trends?
Businesses in many industries experience fluctuations in sales trends during certain seasons. For example, a business that sells holiday décor will likely see the bulk of its sales in the fall and winter months. Companies are usually not able to control seasonal shifts in consumer behavior — however, they can leverage these seasonal shifts by planning for these sales increases in the preceding months. When developing a sales territory plan, account for these fluctuations in sales trends to ensure that there is an adequate supply of product and sales members available when the time arrives.
4. Does Your Organization Have The Proper Resources?
An important component of developing a sales territory plan involves providing the sales team with the proper resources for success. A comprehensive sales territory map can convey to sales reps where they should focus sales efforts and which areas are most likely to result in sales. Having access to innovative technology, such as sales territory mapping software, can make a significant difference in a sales team’s ability to target the right customers.
5. Will Your Sales Territory Plan Include Cross-Selling Or Upselling?
Selling products and services often opens up ample opportunities to sell other things too. Customers who purchase certain items from a business may not realize that the business sells other items that may be of interest or that certain products come in larger sizes or as package deals. When developing a sales territory plan, look for opportunities to cross-sell or upsell products or services.
This allows prospects and customers to become more familiar with the brand and increases revenue potential.
6. Is Your Organization Tracking Its Performance?
Developing a sales territory plan is just the first step, businesses must also track their performance over time to measure their progress. It may also be necessary to modify the plan when changes occur that affect business territories. The use of sales performance tools, such as those found in sales territory mapping software, can help streamline this process by quickly inputting business data. These useful features can help businesses save time and money.
7. Does Your Organization Use The Right Mapping Software?
Businesses that invest in quality sales territory mapping software can enjoy a wide range of benefits. Instead of relying on time-consuming spreadsheets or physical maps, sales territory mapping software allows sales leaders to automatically assign accounts or leads to specific sales reps based on the territory that they manage. Sales territory maps are based on geography which may then be organized by zip code, state boundaries, population, drive time or other attributes.
Get Started With Sales Territory Mapping Software
Sales territory planning can be a complicated endeavor but one that pays off. A sales territory plan aims to balance territories, allowing sales reps an equal chance to close deals. These plans can also help sales leaders more easily recognize patterns and pinpoint opportunities that lead to accelerated growth.
Sales territory mapping software helps sales teams better optimize their sales data and achieve peak performance. For more information about developing a sales territory plan using sales territory mapping software, contact the experts at Geographic Enterprises today.