how can i increase my territory sales

Seven Sales Territory Management Tips to Empower Your Sales Strategy

Full Answer

How to create a sales territory plan?

Follow these steps to create a sales territory plan: The best way to start a sales territory plan is to first look at your customers, leads and prospects. 1. Define your market, analyze, and segment existing customers.

What are the benefits of sales territories?

One of the essential pillars of a successful business is a robust and organized sales territory strategy. Studies show that effective territory management can increase overall sales, improve customer coverage, and reduce costs. Territory planning requires careful thought and consideration because it's crucial to get it right the first time around.

How do you map your sales territories?

Traditionally, sales territory mapping is based on a single, simple factor: geography. Businesses might allocate territories based on zip codes or drive time from a rep’s home base and manually document the plan by color coding or placing pins on a map.

What does sales territory management look like for your business?

Sales territory management puts your reps in a position of success, boosting each territory’s sales while preventing expensive and tedious tasks like hiring, onboarding, and training. With upside so high for your team, market, and bottom-line, you may be asking yourself, “ What does sales territory management look like for my business?

How do I become a good territory sales rep?

10 Sales Territory Management Best PracticesSet Territory-Level Sales Goals. ... Prevent Territory Conflict. ... Prioritize the Most Valuable Territories. ... Track Mileage and Expenses. ... Create a Rotating Schedule for Contacting Customers. ... Meet Needs of Current Accounts While Finding New Leads. ... Consider the Seasonal Needs of Customers.More items...•

How do I sell a large territory?

Best Practices for Sales Territory ManagementDevelop a visit rotation schedule. ... Account for seasonal trends. ... Optimize for long-term ROI. ... Find new ways to divide your sales territories. ... Leverage other customer-facing colleagues. ... Track performance over time.

What makes a successful territory manager?

They also tend to have management experience under their belt, top-notch communication skills, customer service acumen, and a knack for problem-solving. The extent of a territory sales manager's influence leans heavily on the nature of their business, size of their teams, and structure of their sales orgs.

What are the factors affecting sales territory?

Factors Affecting the Size of Sales TerritoryNature of the Product. The nature of the product may be industrial, consumer or consumer durables, or perishable. ... Nature of the Sales Job. ... Demand for the Product. ... Market Potentialities. ... Channel of Distribution. ... Stage of Market Development. ... State of Competition. ... Abilities of Salesman.More items...

What is territory management skills?

Territory managers build and foster strong customer relationships within a particular region. They design strategies aimed at growing regional revenue by satisfying customer needs and special requests. Territory managers use consumer research to maximize potential revenues and gain the loyalty of their clientele.

What is the disadvantage of sales territories?

The territorial sales force structure can have a few disadvantages. One is that it can be difficult to manage different territories and keep track of each employee's progress. It can also be tough to coordinate sales efforts across different territories, which can lead to missed opportunities.

Why is sales territory important?

Establishing the sales territory helps in planning and controlling the sales operations. A well designed sales territory helps to increase sales volume and market coverage and provide better services to customers. Once the sales territory is allocated to the salesperson, he is responsible for making things happen.

What is another name for territory manager?

Territory Manager , Territory Account Manager. Account Manager, Key Account Manager, Strategic Account Manager, Major Account Manager. Telesales, Internal Sales, Call Centre Operator, Customer Service Representative.

What are the challenges you faced in sales?

Articles5 Challenges in a Sales Career and How to Overcome Them. Sales Strategy. ... Lack of Efficiency. Many sales people fail to perform due to low productivity and lack of efficiency. ... Longer Decision Timeframes. ... Finding Qualified Leads. ... Building Trust and Credibility. ... Rejection.

How do you plan a territory?

The best way to start a sales territory plan is to first look at your customers, leads and prospects.Define your market, analyze, and segment existing customers. ... Conduct a SWOT analysis. ... Set goals and create targets. ... Develop strategies to accomplish your goals. ... Review and track your results.More items...•

What are different types of sales territories?

Common types of sales territories include cities, regions and countries. Sales territories can (less often) be based on criteria other than geography, including company size, industry, demographics or any segments you define.

What influences the size of territory?

Territory size is affected by the distribution of the food, group size by the quality of the food in the territory.

How do you sell land without a realtor?

How to Sell Land Without a RealtorFind Out the Worth of Your Land. The first and the most important step to make a profit on your land is to determine its correct value. ... List Your Property on the Correct Platform. ... Choosing the Best Offer. ... Compiling All the Legal and Non-Legal Records. ... Final Words.

What are the types of sales territory?

Common types of sales territories include cities, regions and countries. Sales territories can (less often) be based on criteria other than geography, including company size, industry, demographics or any segments you define.

What is the fastest way to sell land in Kenya?

8 Tips That Will Help You Sell Your Land FasterResearch on Proper Pricing. ... Prepare the Land. ... Mark Boundaries. ... Take Aerial Photos. ... Be as Descriptive as Possible. ... Advertise on Listing Sites. ... Show People the Land. ... Have Proper Documentation.

What is territory mapping?

Sales territory mapping is the process of defining the area, sales, and revenue that your reps are responsible for targeting. If done properly, it can help you reach the right customers, hit revenue goals, and promote growth. Traditionally, sales territory mapping is based on a single, simple factor: geography.

What is a sales territory plan?

Basically, it’s your strategy for how your team will target and approach prospects, leads, and existing customers to close more deals. Before you jump into your fancy sales territory mapping software, you need a battle plan:

How to write a territory plan?

Now that you know what a sales territory plan is, let’s dive into how to write one in five basic steps. 1. Define your larger sales goals. Before you have a plan, you need a goal (or goals). And there are many different approaches you can take to determine sales goals.

What is the key to sales teamwork?

Every salesperson on your team will have a different set of strengths based on their experience— and effective teamwork is the key to making this work. For example, some reps may have lots of experience selling to a specific demographic, whereas others are experts in certain industries or types of products. Being able to align their efforts with a customer’s industry or specific needs means they’re going to close more deals than taking the spray-and-pray approach.

Why is tracking your progress important in sales?

With the ability to track your progress, you can replicate successes and easily make adjustments to areas that need work.

What is the secret to sales success?

Some experts say that the secret to sales success is a combination of skill, perseverance, and a good sales conversation starter. And they’re right—those are all important attributes for salespeople. But it overlooks what is possibly the most important factor in sales success—which happens before a meeting is even booked: your sales territory plan.

Can you optimize your sales territory plan?

Today’s level of connectivity has changed that. You can now optimize your sales territory plan and target your leads by industry, business size, deal potential, and role too. Which, as you might guess, is much more effective than using geography alone.

How does optimizing territories help sales?

Efficiently optimized territories give your salespeople more time to call accounts, nurture leads, and maximize relationships—and less time, and fuel, wasted on the road.

What is the most effective tool for building and managing your sales territories?

Your business can achieve its sales goals with a clear territory management process. Comprehensive-yet-intuitive sales software mapping tools like Maptive make it easy. Transforming your existing data with a full suite of powerful tools, and providing you the customization, flexibility, and connectivity you need to get what you want faster, Maptive is the most effective tool for building and managing your sales territories.

What is Sales Territory Management?

Sales territory management is the ongoing practice of analyzing and optimizing each territory in your market to maximize sales. Businesses that successfully manage their territories earn more revenue, build better relationships with their customers, and get the most out of their sales team.

What is the best way to earn more sales?

Improved Customer Service: What’s the best way to earn more sales? Grow your existing accounts. Effective sales territory management makes sure your customers get the attention they deserve, along with the sales rep that will serve them best.

How does Maptive help sales?

Maptive features a range of powerful tools that will make sure your sales territories strike that perfect balance between business goals, customer retention, and sales team morale. The key here is to make sure each rep receives a manageable and relatively equal workload built to their strengths.

Why are sales territories important?

Sales territories are essential for your business to optimize its performance. They allow for more efficient customer service and create an even playing field for every member of your sales team.

What is Geographic Boundary Territory Tool?

Create and Visualize Territories: Maptive’s Geographic Boundary Territory Tool allows you to create territories based on zip codes, counties, states, and other established geographical regions.

Why is it important to work on your territory management strategy?

On the other hand, unbalanced territory plans and constant changes in territory division can hurt productivity as well as working relationships between clients and account managers. That’s why it’s so important to work on your territory management strategy, whether you’re just starting one, or updating an existing plan.

What is a sales territory plan?

A sales territory plan is a workable plan for targeting the right customers and implementing goals for income and consistent sales growth over time. Traditionally, sales territories were created by geographical location. However, these days it’s been extended to include different industries, customer types and other segments.

How to find key trends in your market?

To discover what key trends are in your geography or market, look over the sales data that’s already been collected. Analyze the data to find which territories show signs of growth and then assign them to the sales reps who would be most successful based on their strengths (more on that below).

Can unbalanced territory plans and constant changes in territory division hurt productivity?

On the other hand, unbalanced territory plans and constant changes in territory division can hurt productivityas well as working relationships between clients and account managers.

Use a data-driven approach

Territory and quota planning needs to be part of your team’s overall sales forecasting and sales analytics processes. Chances are, your organization already has a massive amount of great sales data. Look for ways to use this data and gain insights into where the biggest opportunities lie within the various sales territories.

Listen to front-line sales managers and reps

Planning quotas and sales territory mapping should be a collaborative process. Instead of handing down the latest territory assignments from the top, work with your sales managers and even your sales reps to get the latest intelligence from the front lines.

What metric can help you find out which territories are buying the highest quantity of your product?

Sales volume by location: This metric can help you find out which territories are buying the highest quantity of your product.

How to increase sales volume?

One good strategy for increasing sales volume is to incorporate an emphasis on customer benefits into the sales pitch for a product. Detailing the benefits of a product can help a customer weigh a product's value.

What is urgency in sales?

Timeline: Establishing urgency is an effective sales tactic that can help increase both the sales velocity and the sales volume. You can find out the timeline for each prospect buying your product to find and focus on the prospects who will buy your product the fastest.

Why do you need promotions?

Promotions can help you move more inventory while also gaining new customers. For example, you could offer new customers a discount when they buy more than one product during their first purchase. Adding limitations to promotions can create a sense of urgency for customers to buy more than they would if a promotion was ongoing.

What is unit per transaction?

Units per transaction: This measures how many products that customers are buying during each sale.

How to overcome objections in sales?

One of the best ways to overcome sales objections is to have your sales team practice responses. This benefits the sales team by giving them more confidence during the sale. It also can help increase sales volume by boosting the rate that leads are converting into sales.

What does it mean to have a high sales volume?

Sales volume is the number of products you're selling over a given period. A high sales value can indicate that a company's marketing and sales tactics are effective. Sales volume is a common metric that many sales professionals measure along with revenue, but they're not the same. Revenue tracks how much money you're bringing into a business, while sales volume tracks how many units of products you're selling.

How to set up a territory?

To effectively set up territories, sales leaders must first understand the environment of their business. There are numerous ways for a business to define a market. Factors could include geography, size, and consumer demographics — among others.

How to get a better picture of territory value?

To get a better picture of territory value, include your sales team in these discussions. After all, no one knows the territories better than the reps who work within them each day. That way, you can assign the appropriate reps to maximize the potential of each territory. 4. Assess rep strengths.

What Is a Sales Territory?

A sales territory is the regional, industry, or account type assigned to a specific salesperson or sales team. A sales territory owner is responsible for prospecting into their customer base and meeting their territory quota.

What is the importance of territory management?

Studies show that effective territory management can increase overall sales, improve customer coverage, and reduce costs.

Why is it important to rank territories?

After assessing the quality of each account , it is important to rank territories. As with the accounts’ values, this process is subjective based on different business needs and priorities. If your business sells products across industries, your territories could be divided and quantified by those industries. Determining what sales territory supports which areas of the sales funnel will also help you score territories into high, medium, and low value.

Is territory management specific to existing accounts?

Effective sales territory management isn't specific to existing accounts. Though that's obviously a crucial component to the process, it's not the only one. Always pursue new business — one way or another. That doesn't mean forgetting about current accounts.

Is territory management dynamic?

Territory management is dynamic by nature. You can't expect a specific territory to remain stagnant in terms of how it responds to your sales strategies. Circumstances change, and you need to be able to change with them.

How do I optimize my sales territories?

The key to optimizing your sales territories is having the right tools and technology. Previously, sales leaders relied on spreadsheets, maps, and customer lists, but advances in intelligent sales territory mapping software allow you to weigh scores of variables and perform complex calculations to quickly create new territory structures and scenarios.

How do I create a sales territory map?

Your plan should start with your larger business goals in mind. As with any strategic endeavor, evaluate your progress and make adjustments over time.

What is sales territory mapping?

Sales territory mapping is the process of defining the area, sales, and revenue that your reps are responsible for targeting. If done properly, it can help you reach the right customers, hit revenue goals, and promote growth.

What is Salesforce Maps Territory Planning?

With Salesforce Maps Territory Planning, New Balance was able to look at critical business drivers, such as growth projections, customer engagement, and market dynamics, to identify the optimal territory mapping plan and realign staffing and territory assignments. It aligned account attributes with business priorities to balance territories and improve equitability. It managed models, territories, and assignment rules for reps, all within its CRM. As a result, New Balance was able to quickly publish new territory models and keep valuable revenue and territory data in a centralized place accessible to its entire sales team.

How to manage territory?

1. Divide your territory in a way that makes sense. One of the first steps to effective territory management is to have a concrete view of current customers, potential customers, competitors’ activity, and the location of all of these. Time in front of qualified customers is the most productive and the most rewarding for your sales team ...

What is sales territory management?

Sales territory management is key to effective sales prospecting, territory management, and, ultimately, a sales strategy. You wouldn’t go into a championship game without your best players on the field – and each player knowing their role in the game with precision accuracy. They know who they cover, where and when they need to do it, ...

Why is it important to keep in contact with prospects?

In fact, one could argue that, in today’s world, it’s one of the most important elements of customer loyalty.

Why is it important to develop a sales territory plan?

The importance of developing a sales territory plan is clear; having a massive impact on your performance. With a clearly defined territory, sales teams work strategically to address the needs of their assigned market.

What is the first step in creating a sales territory plan?

The crucial step towards creating a sales territory plan is customers segmentation. Look deep into your clients’ businesses, their challenges, and unique traits they hold. It’s also important to identify what makes them unique and what sets them apart from each other.

What happens when a sales manager's sales territories are out of balance?

When territories are out of balance, too much effort is spent on low-potential customers and too little is spent on high potential ones - sending possible profits up in smoke.

What is effective territory management?

Effective territory management is one of the most prominent pillars of sales success. Creating a balanced sales territory plan ensures you target the right customers at the right time; assigning the right accounts to the right reps. This allows you to allocate sales expenditure and effort on exactly what can help you achieve maximum success.

Why is setting achievable goals important for sales?

Setting achievable goals that your sales team can control is pivotal to boosting motivation and confidence. This also helps keep your team on track throughout the year, enabling you to monitor their progress more effectively. There are a number of ways to review customizable data using CRM software.

What is aligning salespeople?

Align salespeople to regions, segments, and/ or verticals best suited to their background and expertise;

What is the best way to build a sales strategy?

A good way to build a sales strategy is to use the GSOT method: G oals, S trategy, O bjectives, and T actics.