Five Steps to Territory Management Success
By: Tom DiVittorio, CPO at MapAnything
There are many ways that field sales territories are defined including geography, industry, buyer profile or product use case. High performing sales organizations utilize data and a combination of factors to define sales territories and manage success. The key is the strategic use of CRM data, and the application of appropriate productivity tools. Through the data lens, territory managers are able to see opportunities and fine-tune territory boundaries to meet revenue goals.
Building a territory plan using CRM data is not as common as you may think. Everyone looks at pipeline and geography, but layering in new lead data and prioritizing focus by both geography and opportunity value can help you build more successful territories that make the number consistently. A flexible, map-based data visualization tool is helpful as territory managers define and give value to sales territories. The following steps will help you define the right territory structure, and simplify your ability to manage it for maximum results.
Define and quantify
Define and quantify territory parameters with factors like geography, product use case, and buyer profile. Use CRM data to identify geographic areas with the greatest number of existing customers and greatest number of new customer leads that fit your product use case. Using specialized tools such as MapAnything Premium Data Layers can help you identify targets and prioritize opportunities within a geography or territory. Use this data to find the potential territory value. Check the potential territory value against historical performance and active pipeline to define a territory that is optimized for success.
Assess the potential territory growth potential. You can define the opportunity within a territory as you calculate the delta between current pipeline and un-touched net-new leads. MapAnything, can reveal the current value of any geographic territory via its powerful, map-based data visualization capability, and integration with Salesforce data. This assessment makes it easier to build a sales plan that is focused on prioritized opportunities with existing customers and new leads you have identified with MapAnything Premium Data Layers.
Normalize the value
Normalize the value of the two revenue sources: existing customers, and new leads. Run “what-if” scenarios based on existing customer data, pipeline and new lead data. This is where the art data-oriented territory management really shines. Based on business goals, territory managers can use MapAnything’s map-based interface to define and shift territory boundaries to find the right boundaries and maximize the likelihood of meeting the number.
Track results and monitor progress with live reporting within Salesforce. With automatic updates, sales pipelines are more accurate and sales reps are focused on results rather than administration. Timely reporting within CRM lets territory managers monitor progress through the quarter and make adjustments as necessary.
Optimize territory plans
Optimize territory plans using CRM data and MapAnything Guide. As territories evolve and gain maturity, data within Salesforce and MapAnything helps managers reassess territory plans and adjust boundaries for optimal results.
MapAnything is the industry’s most advanced Geo-Productivity Software, designed to help sales teams visualize territory opportunities, navigate to those opportunities efficiently, and manage CRM updates through an intuitive, map-based interface. Territory management is simplified as each sales rep executes prioritized field sales plans, and minimizes commute time or time spent meeting with prospects that are unlikely to close within the quarter. And, because GPS must be built within the CRM workflow to be effective, MapAnything is one of the only GPS solutions that can reduce CRM administrative time, giving sales reps more time to sell. For more information about MapAnything Territory Management capabilities, visit our product page and schedule a custom demo.