“Give me six hours to chop down a tree and I will spend the first four sharpening the axe.” Similarly, planning of Sales Territory for a business organization is of paramount importance for its success. A Sales Territory plan plays a great role in assisting the Field Reps to reach the right customers at the right time.
Here are the four factors to take into account while planning your Sales Territory:
Understand the Business Environment
The first step of planning your Sales Territory is to understand the environment of your business. You need to know about the latest shifts in the industry, the requirements of the customers and the problems faced by them. Thereafter, you need to divide your customers between those who require more attention and those who require less. Planning your Sales Territory in this way will help you to cover all the aspects related to the customers while reaching out to them.
Set the Right Targets
It is important to set the right targets while conceptualizing your Sales Territory on a map. Setting the right targets will help you to stay focused while working on the objectives of your business. When you are setting the targets, you need to keep in mind the past performances of your company and the best-case scenario for you. In addition, you should be mindful of the fact that setting unachievable goals will lower the morale of the Sales Reps. Moreover; setting targets will assist you to monitor success of your business.
Assess the Territory Quality
A Sales Territory should be created in such a way that ROI is maximized for that territory. While planning a territory, it is important to check the quality of the accounts and the opportunities present in it. You need to assess your territory quality either quantitatively or qualitatively based on the targets of your business. Moreover, you should ensure that the workload of each Sales Rep is uniformly distributed in a Sales Territory.
Evaluate the Strength of the Reps
It is vital to assign the most relevant Sales Rep to a Sales Territory. This is because Sales Reps know the most about a territory as they are always on field. Moreover, the performance and experience of the Reps should be considered while assigning them territories. For instance, a territory that contains a good number of high value accounts should be allotted to a Rep who has experience in closing big deals.
Sales managers can
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