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An effective sales territory plan can make your team more productive, improve customer coverage, increase overall sales, and reduce costs.
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.
In this post, we'll go through how to create a sales territory plan step by step:
A sales territory plan is a workable plan for targeting the right customers and implementing goals for income and consistent sales growth over time.
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Traditionally, sales territories were created by geographical location. However, these days it’s been extended to include different industries, customer types, and other segments.
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.
You should split up your customers into segments based on various characteristics such as: industry, location, purchase history, and whatever else is relevant to the organization.
Ask yourself, “Who are the top customers, prospects, and leads?” Categorize your customers into three groups.
With these groups formed, you can decide how to best use your resources.
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).
Pro-tip: Learn about the best territory mapping software out there.
You can also use existing sales data from previous years to better understand buying patterns, but you'll have to do some additional research to learn why they are purchasing (or not), when they purchase, what drives the sale to go through, and what the conversion rates are.
From this, you’ll learn how and when to reach out to your customers based on when they're likely ready to buy again, and how to really drive that sale home.
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Next, you should identify your sales team’s internal strengths and weaknesses and external opportunities and threats with what is known as a SWOT analysis.
A SWOT analysis is a process that identifies internal and external factors that can affect the organization’s performance. When you have a better understanding of your strengths, weaknesses, opportunities and threats, you can develop a stronger sales territory plan.
Strengths
Everyone brings different talent and skills to the job, so it’s important to have a good understanding of what your team has to offer to help them excel and reach your goals. What strengths will you build on? What is your team good at? Where do they excel?
Consider them as a team, but also think about sales reps' individual strengths. After all, strengths aren’t just confined to team members; they reflect the organization as a whole too.
Knowing everybody’s strengths will help you decide which sales reps to assign to which territory.
Potential strengths might include:
Weaknesses
Which weaknesses do you need to respond to? Think about weaknesses amongst your team, but also in the sales process.
Examples:
Opportunities
Are there any opportunities in your marketplace you can take advantage of? This data can also be discovered using CRM software.
Examples:
Threats
Take a look at the biggest threats in each territory and consider what threats in your selling environment you'll defend against.
Some threats you may discover include:
In order to make a successful sales territory plan, you must create clear parameters and realistic goals for the team as well as individual sales reps’ territories.
To do this, consolidate the trends you’ve discovered above to come up with S.M.A.R.T (Specific, Measurable, Achievable, Relevant, and Time-based) goals and realistic targets.
Here are some questions you may ask:
How many new opportunities do you need to meet quota?
Having sales quotas are a great way to motivate sales reps, but if you find you're not meeting those quotas, you have a problem. There could be weaknesses in the sales pipeline, or you may need to seek new opportunities. In order to set goals and benchmarks for the team, consider using the top-down approach.
Using the top-down approach to sales quotas (where you set a goal for the period and then assign sales quotas to support this goal), you can go over the data from previous periods to get an idea of what your team was able to accomplish in the past and what a realistic goal for the future is. This can help you decide how many new opportunities you'll need to pursue in order to meet that goal.
Where do most of your leads come from? Which geographical regions should you concentrate on?
There are a number of ways to review customizable data using CRM software to discover where your leads are coming from. This can help you target areas of interest.
Which products or services are most profitable? Who is purchasing them?
Again, CRM software can automatically capture sales data and put it to work.
Which opportunities should we focus on?
With a CRM, you can quickly identify opportunities to help your sales team decide where to dedicate their time and resources. For example, Copper allows you to see past opportunities that are open, abandoned, lost, or won in a Sales Performance report.
After learning what it is you want to achieve, you can give your team clear objectives for each territory.
With clear customer segments and goals in place, it’s time to create strategies to succeed.
Using the information collected so far, you can now work out an even distribution of specific regions or markets among individual reps.
The SWOT analysis mentioned above gives you a better idea of how to best assign your team members’ skills and talents to a territory.
The customer segments will help you figure out how often different accounts should be contacted and how to contact them.
Consider the following questions when creating your strategy:
In addition, consider your resources:
When creating your action plan, don’t forget to look at what your high-leverage actions are, what resources are needed, due dates, and key milestones.
The final step for a sales territory plan is to take the time to review and track the results to optimize territory division. This is important for measuring progress to see how the plan is impacting sales.
You should use your plan as a guide to produce intended results and fine-tune it on a regular basis when needed.
Things to look for as you track your sales territory plan results:
Use a CRM to help create a killer sales territory plan.
Many organizations use CRM software to better gather data without depleting resources. CRMs allow sales reps to access insights into your pipelines, revenue forecasts, sales goals and progress, and much more.
The best part: all of this data can be automatically compiled into reports used to create your sales territory plan, freeing up more time for your sales team to focus on building long-lasting relationships within their territories.
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Don’t you know that you can boost your company’s sales without increasing cost by using free mapping software?
Marketing professionals use this kind of program to monitor their field territories for efficient distribution. Presentation of sales progress through the software will also help you determine the current status of your company’s sales accurately.
Instead of giving the responsibility to your field agents, why not look at these 10 affordable and almost free territory mapping applications?
10. Territory Mapper
TTG published this program to help marketers in realigning, managing, and monitoring of their company’s sales area. The software features free updates of ZIP code for one year with real-time support from its developers. It allows you to directly send your templates to your printer or convert them into PDF and PowerPoint presentation. Full license costs $499 but you can always download the evaluation copy for free.
9. Analytics in Focus Sales Territory Map
Sales Territory Map, created by Analytics in Focus, requires installation to prevent you from waiting for the internet to load your map layouts. Its database is integrated with an Excel’s spreadsheet, immediately updating your template as soon as you enter data in the database. Your sales progress’s privacy is secured because you don’t need to upload your map in a cloud server. It comes in 2 editions (free and premium) that you can download online.
8. Flashmaps
Mac app mac address spoof. It is use to identify your device on the Internet or the local network.
Flashmaps features a lot of map templates, ranging from US national levels to different country maps with full provincial details. It helps you connect with your database in real-time, allowing you to access your up-to-date distribution progress anytime. You can even designate colors to areas for presentation purposes with mouse-over summaries for each area. The price is $399 but you can request for an evaluation copy online.
7. MapTron
Designed as an interactive flash software, you only need to edit a text file to configure your mapper. There are tons of free mapping tools online and you can create your own tools as well. You don’t need to install other third party programs to maximize its features. You can buy it online or download its free trial before purchasing.
6. Badger Mapping
Badger allows you to put customers on your map templates with specific details such as sales volume and account type. You can also add potential customers on your map with their contact information. The program can guide you through the best route to your customers when planning for field visits. You can immediately start your free trial by visiting their website.
5. Microsoft MapPoint
MapPoint is in full integration with MS Office, allowing you to create map templates with Outlook, Access, PowerPoint, and Excel for presentation. It helps you make information-rich data with information like business trends and business opportunities. You can bring the program anywhere by integrating it with your mobile devices. Order it online or start your free mapping software trial now.
4. AlignStar
AlignStar features mapping, optimization, analysis, and alignment of territories for any type of business. It gives you instant summary of sales data on any map template you currently use. Smart Label technology allows you to see specific details whenever you zoom in your map. It comes in 3 editions (small business, corporate, and enterprise) that are all available online.
3. eSpatial
eSpatial allows you to create interactive territory maps in less than a minute. It features graphic tools to help you build tables, graphs, and heat maps. You can also add real-time activities in each area to help you monitor your current sales development. You need to register first before you can use the software for free in 7 days.
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2. GeoMetrx
This program has built-in datasets such as location, climate, crime risk, and traffic count to help you efficiently plan before field selling. You can easily export these data, together with your map, via HTML for public presentation. There are additional map tools coming from Google Earth, Yahoo Maps, and 3D model from Virtual Earth. Free demo software is available from their website through pricing page.
1. SmartDraw
SmartDraw is designed to enhance your company’s sales with the use of flowcharts, marketing diagrams, and visual presentation. It has map templates where you can add detailed markers, texts, and symbols to plot your territory areas. It’s compatible with most MS Office programs for more accessible presentation materials. Both business and enterprise editions are available via official website but they also offer demo versions for free.
Your Turn
Do you know other programs that can help businesses in their sales process? Post affordable and free mapping software under the comments section and don’t forget to tell why you like them.
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December 2020
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