Boost your team’s productivity with an agile territory strategy. Territory management software streamlines your sales process with powerful tools like route optimization and accelerated territory design.
Territory hierarchies and dashboard reports provide a visual and analytical perspective on territory performance. They make it easier to adjust territories based on commercial goals or market variances.
Table of Contents
Organize Your Sales Team
Territories must be appropriately aligned with sales resources, which can waste reps’ time and effort. Representatives may pursue less-than-quality leads that other agents could efficiently serve if a part is underserved. Likewise, if a territory needs to be more saturated with reps, they can spend more time building relationships with existing customers and take advantage of new opportunities.
Territory mapping software like eSpatial can help to balance territories by analyzing data that includes account size, revenue potential, geographic footprint, and more. Using this information, managers can strategically prioritize territories and assign them to salespeople.
A SWOT analysis can also identify potential issues with territory management. These can include internal factors such as quota attainment levels or training needs and external factors such as market shifts that impact sales. By identifying these problems, you can develop a plan to correct them. These plans can be communicated to sales reps and compared against real-time analytics to monitor progress. This will ensure that your team achieves the best results. This will increase sales efficiency, boost morale, and foster growth.
Automate Your Sales Process
As a sales leader, you need to be able to confidently assign nearby accounts and prospects into geographic territories of roughly equal size and value. While this can be done manually, territory management software makes it far more accessible and accurate.
With automated territory design and optimization, you can ensure your reps are in the best position to meet their quotas. And by analyzing account data, you can find inefficiencies you can work to correct.
The proper territory planning strategy can help you grow and maintain strong customer relationships and create a stronger foundation for future growth. However, it’s essential to periodically evaluate your territories to identify any inefficiencies that may be costing you revenue or hurting your team’s productivity.
The best way to assess your territory is to use a geo-business intelligence solution like We Map Sales. With this powerful tool, you can automate evaluating and optimizing your domains by layering and weighing every business consideration. You can even create rules applied to all child territories based on a selection of criteria, such as industry or market segment.
Automate Your Reporting
Territory management software automates many of the time-consuming manual tasks your Ops team completes throughout the year so you can be more agile and lean. This lets you shift your focus from annual planning and forecasting to continuous evaluation and runtime changes that drive sales performance.
Using data-driven insights, you can confidently carve out territories that ensure each rep has adequate coverage to pursue top accounts and customers, that there are no overlaps, and that all parts have equal potential to meet quota. This eliminates the need for a territorial wars process and gives your team a strong foundation for consistent success.
Territory Management Software also makes it easy to adjust territories for business needs, such as changing commercial goals or market variability. You can easily adjust with granular locking (which limits the impact on other users) to create and modify territory models, establish hierarchy rules, configure account and lead assignments, and set user access levels for territories. Then, you can visualize the impact of these changes via customized dashboard reports in various formats.
Automate Your Scheduling
Territories that are mapped and designed effectively improve sales performance, quota attainment, and rep morale. This is why it’s essential to periodically evaluate and adjust your territories to ensure they align with your business goals and identify gaps in coverage or resources.
A Territory Management solution eliminates these time-consuming manual tasks by automating them. This saves your Ops team valuable meeting hours, allowing them to focus on high-level GTM activities that help drive revenue.
With the help of a Territory Management tool, you can easily create balanced territories by utilizing data-driven strategies to confidently group accounts and prospects into geographic areas of roughly equal value (in terms of the number of reports and account revenue potential). This helps reduce time and resource inefficiencies while improving sales opportunities and performance.
First, you can set up a rule that automatically routes accounts based on specific criteria like location, industry, or other factors. For example, you can route all your healthcare accounts to one territory while routing all your technology accounts to another.
Automate Your Forecasting
An effective territory management strategy reduces your sales team’s time on administrative tasks. This allows more of their time to be spent building relationships with customers and hitting quotas. Companies that use Territory Management technology have a 10 percent higher sales achievement rate than those that do not.
Territory mapping software enables your Ops team to automate and streamline the annual planning process from months to days with an AI-driven planning engine, significantly improving operational efficiency and effectiveness. A highly optimized territory design eliminates guesswork, reduces inefficiencies, and ensures sales reps are correctly paired with the correct accounts.
Territory management software enables you to easily create and manage territories using an intuitive dashboard that updates in real time. This allows you to monitor critical sales data, including territory coverage, quota attainment levels, etc. This information can be used to proactively identify and address issues before they negatively impact revenue or cause confusion among your team members. You can also use it to quickly adjust territories based on changes in headcount, commercial goals, or market volatility.
Also Read – Understanding the Importance of Cloud Identity Service in Modern Business
