A well-balanced sales territory will keep reps happy and engaged and ensure your company meets strategic growth and revenue goals. However, designing territories is a complex process that involves many different considerations. Start by considering your business’s goals and objectives. It will help determine the best way to divide up customers and prospects.
Better Account Management
Having clear and compelling sales territories gives reps more control over the number of accounts they are responsible for. It allows them to spend more time generating leads and cultivating highly relevant marketing messages that deliver results. Sales territory mapping software will enable managers to create a balanced sales territory for each rep based on various criteria, including location, revenue potential, and experience level. It ensures each territory is evenly distributed and provides many opportunities for each team member. Salespeople may feel overworked and overwhelmed when a territory is too big. Conversely, if the territory is too small, it can be easier for salespeople to find prospects and customers. Sales managers can use a SWOT analysis to depict each territory’s strengths, weaknesses, opportunities, and threats.
Mapping territories by location is one of the simplest ways to divide customer segments. However, this approach can be limited by ambiguous boundaries and inconsistent decision-making. Using territory mapping software with data visualization tools can allow sales teams to see patterns and insights that aren’t apparent in a spreadsheet. These insights guide more intelligent, informed planning that uses data as an asset. It also allows for more equitable territory distributions and better utilization of resources across the organization.
Increased Sales Team Efficiency
Clearly defined territories make allocating leads and accounts to individual reps quickly based on their expertise, revenue potential, or geographic location. It helps ensure that each rep has a manageable number of opportunities and balances workloads, helping boost morale and increase productivity. Sales territory mapping software also offers a variety of advanced reporting capabilities that help you identify and evaluate business opportunities, such as revenue heat maps. By visualizing these data points on a map, you can quickly pinpoint where the most significant opportunities for growth are located and which areas of your current territory plan may need to be adjusted.
Reviewing territory plans regularly is another crucial step in maintaining an effective sales strategy. It will help you respond to changing circumstances, such as a prospect moving locations or a competitor entering your market. It will also allow you to identify and address any issues causing churn amongst your team members, which can significantly negatively impact your business’s revenue. Using a robust sales territory management tool makes it possible to optimize routes for your reps, which means they can visit more customers in less time. It reduces travel expenses and frees time for sales representatives to focus on growing their pipelines. It translates into increased profitability and higher sales team performance.
Increased Revenue
Sales territory mapping software is a powerful tool that can help you optimize your team’s performance, improve the efficiency of your business processes, and increase revenue. However, it’s essential to identify your specific needs and objectives before selecting a tool. Choosing a tool that’s easy to use and customizable for your team is also crucial. A no-code solution with an intuitive user interface can make it easier for your team to adopt and use the software.
Increased Pipeline Efficiency
Using sales territory mapping software, you can easily visualize critical sales data on a map. It includes revenue heat maps that help you and your team quickly identify high-performing territories while also seeing areas where attention may need to be shifted. It’s also easy to realign territories when accounts move into new geographies, acquirements occur, or your business strategy shifts. It allows you to double-check your decisions with various advanced reporting capabilities and ensure each team member has the best chance of success.
In addition to helping you clearly define and assign territories, a territory management tool can provide insight into how well your existing territories are performing by analyzing customer demographics, current pipeline opportunities, and other criteria. It will reveal weaknesses in your current process or potential opportunities to grow sales in underserved markets. By incorporating all of this information into your planning process, you can improve your sales territory mapping by ensuring each territory has a manageable number of accounts, leads, and prospects to keep reps busy and provide a healthy balance of work. Plus, a territory management tool makes staying up-to-date by automatically importing data from your CRM and other third-party sources easy. Ensuring that the data you’re working with is always fresh and accurate is essential.
Clearly Defined Territories
Defining territories makes working together easier for your team and eliminates confusion over who owns what area. It can reduce costly mistakes, like spending time on a customer or prospect who belongs to someone else’s territory. It also reduces wasted travel, which can reduce costs and increase productivity. Accounts and prospects are easily divided into well-balanced territories, ensuring every rep has adequate high-value opportunities to meet or exceed their goals. Identifying opportunities to restructure a territory based on geography, customer demographics, or historical performance is also easy. A well-balanced territory can also help your team grow its existing business by identifying opportunities for referrals and upsells. It is a great way to get the most out of your current customers and help them achieve their growth goals.