Many businesses assign their sales team to specific territories. A territory may or may not be a well-thought-out area designated to a team member. Without data, sales managers are managing from their gut instinct on what makes a territory “fair” or “profitable.” If the objective is to maximize sales within each area, you need to learn tactics and strategies that work, and data-driven maps are your key to prosperous sales territories. Here are some best practices for sales territory management.
Plan It Out
Any and all sales territories need to have a sales territory plan. Planning is essential for everything. It helps guide what you do and how you do it. Without a program, you are working blindly. That can cause you to fail at your goals. Management especially needs to have a strategy and plan because everyone else relies on it.
Maximize Your Customer Time
Your business is sales, and that means that any time spent not talking with customers is wasted. Balancing your time at the perfect level will help you to make the most money possible. About 65% of your time every day should be on customer contact. Eliminate any unnecessary non-customer time in your day.
Know Your Territory
Don’t expect to go into your territory and just start selling. Take time to analyze the territory to discover insights that may allow you to maximize sales. Talk to your customers and find out their needs before you try to sell them anything. Customers, even B2B customers know the difference when someone understands their needs and cares for them. Where are your competitors and how are they reaching your audience?
Map Out Your Sales Areas
Take the time to map out your sales districts in the territories. You want to map where big sales are taking place, where customers you want to convert are located, and where you have no business. It can also help to know where your competition has customers.
Evaluate Your Sales Territories Regularly
It is vital for you to regularly take the time to evaluate the sales territories that are under you. You want to see how business is doing. If you have one area that isn’t performing, you will want to either change your tactics, change the people assigned to it, or possibly abandon it. Reading the numbers within the territory and mapping for a visual presentation, quickly allow a business leader to make a decision.
There is a lot that goes into sales territory management. Keep each of these best practices in mind. Beating your competition is what will help your company stand the tests of time.
For more information on mapping sales territories contact GeoMetrx at 888-848-4436.