Creating the right sales territories to fit your business, products, and staff is often a difficult task. However, set up correctly, effective sales territories can work wonders for your business. GbBIS takes a look at 4 steps to help you create winning sales territories.
1. Know your Market
If you haven’t already, you need to define your target market. Find what variables make up your top customers—age, gender, income, location. If you’re selling to a business, find what business factors make up your top clients. Using this data, make a list of all potential prospects in your target market and rank the prospects. Find data sources with company addresses and phone numbers.
2. Draw the Borders
Maps that plot the locations of your prospects are powerful visual tools. They help you set up geographic boundaries in unfamiliar cities or metro areas. When dividing your territories, there are several ways to do it: if your company sells to different industries, divide your territories by industries (the drawback is that several reps may have to travel to the same far-off location to service different clients). You can also divide your territories by the size and buying power of potential prospects.
3. Involve the Sales Team
It is beneficial to involve some of your reps in the territory allocation process. You’ll get the benefit of their collective knowledge, and your sales team will appreciate having a say in crafting their own “franchise,” the selling territory.
4. Minimize Future Changes, But Plan for Them
In the future, change the territories as needed to respond to changing markets or your changing business. But do consider sales deals “in play,” important customer relationships and the morale of your sales team before adjusting territories.
GbBIS has over 25 years of experience helping businesses create the most effective sales territories. We supply companies with the most accurate demographic data to better target their market, proprietary data to identify business leads, and a number of other tools to help in sales territory design. We offer a range of maps, web applications, reports, and databases to help businesses visualize and manage their sales territories.
Contact GbBIS today and discover how our accurate data can help you create winning sales territories
Visit Us on the Web at gbbis.com
Call Us at 1-877-447-6277
Image 1 via gbbis.com, Image 2,4,5 via salesterritory.com, Image 3 via pitchyourtalent.files.wordpress.com