Sales territory maps are commonly used by businesses to define and allocate sales territories, analyze sales performance and establish routes to better coordinate sales calls. When used efficiently, sales territory mapping increases organization and productivity. Sales territory mapping has been found to help businesses achieve exponential growth by defining company direction and strategically delegating territories.
Creating sales territory maps for a sales team facilitates the distribution of a fair workload enabling the team to work to the best of their ability. Sales territory mapping can also result in lower staff turnover, greater motivation and a higher number of sales.
Growth Through Sales Territory Mapping
While the concept of sales territory mapping is not new, advances in technology have made it possible for businesses to more easily create detailed maps using state-of-the-art software. Replacing manual map-making with digital territory mapping saves time and money by automating the territory planning process and providing sales managers with access to the valuable account and revenue data.
Sales territory mapping encourages the growth and retention of top performers through greater job satisfaction. Proper territory design results in fair quota allocation which affects the team’s ability to achieve goals. Data placed on a map identifies where sales have previously been made, which areas require more focus and which locations are being over-served. Additional benefits with sales mapping include:
Reduction Of Man Hours
Sales territory mapping has been found effective in saving the valuable resource of time which equates to money. Creating and assigning territories saves sales reps time on the road by optimizing routes to achieve the shortest drive possible between prospects and customers. This improvement in business organization opens more time to spend with customers, generating new leads, and enables sales reps to complete their daily work more efficiently and with fewer disruptions.
Uncovers New Leads
Account assessments are an important component of sales territory mapping; it focuses on the number of accounts within a territory and how territories compare to each other. This allows businesses to better understand territories in terms of sales funnel performance. During the assessment process, sales teams learn how many leads are being generated and how many leads actually turn into viable opportunities. In addition, sales teams are able to determine how many of these opportunities convert to deals and new accounts. Once this information is clearly defined on a map, sales managers can allocate resources to generate more accounts by uncovering new leads while maintaining focus on existing customers.
Prevents Lost Deals
Lost deals occur when sales opportunities do not move to close. A dry sales pipeline can occur when a sales team does not fully understand the prospect’s needs or when the target market is undefined. It can also occur when the cost value of products has not been properly assessed or when a sales rep fails to efficiently follow-up with a prospect. Sales territory mapping can prevent lost deals and revenue by ensuring that territories are well balanced and that each customer is given the proper amount of focus based on their interest, supporting each territory to reach its full potential.
Boost Team Morale
Team morale tends to decline when sales territories are not evenly distributed. Sometimes a territory may be too small and not provide enough opportunities for the reps delegated to that particular area. Other times, a territory may be too large and in the absence of a sufficient number of reps in the area, one or multiple reps may feel overwhelmed. Using data gathered from past sales and research, sales teams will develop territory maps that evenly distribute prospects and customers. Sales managers are able to more easily monitor the level of work that is required to effectively support each territory and make adjustments as needed to maintain balance across all territories.
Work With The Sales Territory Mapping Professionals
Business maps create the perfect platform for developing business strategies, sharing sales objectives and showing sales results. They save organizations time by quickly turning business data into informative maps.
When sales territories are poorly aligned, it can result in squandered resources, lost clients and low employee morale. Deciding how to properly divide sales territories among a sales team can be challenging, especially for newly established companies. For this reason, it is important for businesses to collect a large amount of data before establishing the sales territories.
The quality of a sales territory map is reflected by the data provided; with regular maintenance the territories remain balanced and ensure that the company is moving in a positive direction. Maintaining a well-balanced sales territory map allows the sales team to better visualize their goals, explore market potential and enforce tactical sales planning saving time and money.
Quality data and mapping solutions can help optimize and grow a business. For more information about how sales territory mapping can help grow your business or to acquire sales territory mapping software, reach out to the experts at Geographic Enterprises.