Setting the Course for Successful Sales Territory Planning
3rd February 2017 Will Humphries
Sales territory management without a plan is a tall order for your teams. You need an effective plan that sets the course for attracting the right types of sales leads and managing relationships.
The following is a look at some of the key strategies and tips to help improve your sales territory planning for optimal results.
Know Your Marketplace
The scope and depth of your sales leads within a market impact territory management.
If your markets are geographically-dispersed, it’s hard for each rep to take on a lot of accounts.
The size of the clients your team works with play a role as well.
In some organisations, the best approach is to segment by size and have reps that specialise in working with particular types of clients — small, medium or large.
The key is to balance your cost structure, which goes up with smaller territory assignments, and your closeness with prospects and customers, which is dependent on ample communication time.
Long-Term Growth and Go-To-Market Plans
As you seek to implement growth strategies to attract sales leads, the makeup of your customer base in a territory changes.
Consider your go-to-market strategies and the impact they have on the account portfolio for your team members.
If you intend to drive various business leads within a geographic territory, it is a bit harder to maintain a geographic focus with territories.
You don’t want reps getting bogged down trying to manage too many different types of accounts, which impacts their execution.
Establish Account Quality Priorities
Defining parameters for attracting the right kinds of sales leads is vital to effective territory planning.
Without clear criteria, your reps could go after new accounts in a haphazard way.
Instead, you need a plan for evaluating the value of each of your accounts and prospects based on qualitative and quantitative data.
Analysing existing accounts and identifying optimal criteria is helpful in setting the stage for attracting ideal sales leads.
Know Your Team Member Strengths
In addition to defining the target, conduct a realistic evaluation of your team member talents.
Some reps may specialise in working with executives in large organisations, for instance. Others may more naturally connect with small company operators.
If you apply geographic segmentation, your reps may have varying degrees of comfort and familiarity in particular regions and cultures.
Assess Results and Revise
Part of your plan should include assessment and revision. After you implement a go-to-market strategy, keep a close on eye on early results.
In some cases, you may need to adjust your target, message strategies or even rep assignments.
Make adjustments as soon as data suggests that it is necessary. Consistently evaluate your performance and segmentation approaches.
To drive sales leads, you need territories that operate efficiently.
Successful territory planning aligns the correct methodology, reps and target markets.
Outline all key facets of your territory management, including plans for revision and adjustment.