The combination of perseverance, hard-work, skill and a great sales presentation is essential for increasing business and generating more sales. However, an often overlooked factor is creating a sales territory plan. This article will provide you with an explanation of what a sales territory is, why it is necessary and how to create one. If you would like more comprehensive assistance or require help constructing a sales strategy, please reach out to us using one of the contact methods on our website.
A Sales Territory Plan is a strategy outlining how your sales team will prospect, approach leads, close existing customers, and ultimately achieve success. Historically, territory plans have focused largely on geographical boundaries, but with the rise of the Internet, these lines have become increasingly blurred. Now, territory plans often include variables such as business size, sector, deal potential, and more. Though these are important factors to consider, the sales territory plan itself is often overlooked.
Creating a sales territory plan is essential to guide your sales presentations and accurately target potential customers. It moves away from the ‘hit and hope’ approach, allowing you to understand exactly what your prospects need and want. The plan also allows you to match your team’s skills and experience to the relevant prospects. You can set realistic goals and KPIs, so you and your team can spend more time selling and less on those with no need for your products or services.
Establishing a Sales Territory PlanIn order to build a successful sales territory plan, first determine your overall sales objectives and targets. Outline goals that are attainable yet motivating for the team. Next, define your target markets. Segment customers in terms of size, sector, location, and other relevant factors. Take time to research these prospects and customize sales materials to meet their needs. Evaluate your team, considering individual strengths and weaknesses. Which members are best suited for engaging HR managers? Who has success closing deals with smaller businesses? Assign leads and prospects to those who are most likely to be successful.
It goes without saying that like many other elements and factors of sales, sales territories are a lot more indepth and complicated than perhaps this article alludes to.
If you would like more bespoke and personalised and help and support in setting up your sales territories, please get in touch with the Paragon Sales Solutions team by using the contact information on this screen.