Are you a business owner and want to learn something important to build an effective sales strategy? You have found the right article. In this article, you will learn how to map your sales territory in a few easy steps. So keep reading on to know more.
Further, it helps you to know the full potential of your sales teams and their ability to perform in an assigned zone. Your sales teams will work efficiently and effectively once they have information about the potential customers and their interests and location. As a business owner, it is your responsibility to support your sales representative in administrative work by providing a sales territory map.
Sales territory mapping
As you know, sales location mapping requires you to dedicate geographic areas on a map and distribute them to the sales teams. By doing so, you can easily provide sales targets and other required resources to your team so they can work without any issue.
You need to consider the following points to create a sales territory:
- ZIP codes
- State boundaries
- Number of existing customers
- Business possibilities in a particular demographic
- Factors that matter for sales territories.
Creating a map for your sales prospects provides your visual clarity about the customers and their buying capacity. It provides a clear vision to your sales team about their target customers.
Advantages of mapping a sales territory
Here are some benefits you will want to know like
- It increases the resources and abilities of your sales team.
- It increases the chances of high conversion
- It creates a road map for sales individuals
- Finding unserved areas
- Serving the right customers with the right products and services
- Separating sales areas based on population
- Motivating sales reps
- Finding new sales opportunities and maximizing organization profitability
What is the process of developing a sales territory map?
Try the following methods to create an effective sales region.
Step 1- Look at the market and sales data.
The first thing you have to do is to analyze your target market and sales data. For this, you can use a CRM system to observe the market and sales data. You should analyze the following points:
- Find the industry and the market you want to serve
- What are the high and low-performing areas?
- Competitors target areas
- Previous sales data
Step 2- Segment customers and prospects.
- Geographic location
- Business size
- Industry
- Target demographic
- Demands of products and services
Step 3- Process with sales goals and objectives.
Your sales goals and objectives help sales representatives to close more sales and meet the organization’s goal. Here is how.
- Determine sales volume and revenue.
- Find the number of sales you need for your goal.
- Find the average conversion rate of your employees and assign new projects based on that.
Step 4- Conduct a SWOT analysis.
A SWOT analysis is the best way to evaluate the strengths, weaknesses, opportunities, and threats of an individual or a business. Through this, you can evaluate the strengths and weaknesses of your sales team. Moreover, here is how to use SWOT analysis.
- Strengths: Find the key performing areas of your employees like strengths, skills, and experience.
- Weaknesses: Find the underperforming areas of your employees like their weaknesses. Guide your sales team and help them to remove weaknesses.
- Opportunities: Look at your current sales territories and find future opportunities.
- Threats: Plan to deal with the threats in your sales territories and help your employees for the same.
Step 5- Define and assign sales territories.
Now you have to collect all the researched data and based on that create the sales areas. Your goal should be based on a balanced plan that should help your business and sales team. Moreover, consider the following criteria to define a sales region.
- The resources you have to provide to your sales team.
- Ways to come with new leads for sales executives.
- Are sales executives able to work in their territories?
- What is the region with high-value accounts?
Now you have to provide a sales region to each professional based on the following things:
- Geographic location
- Expertise
Step 6- Evaluate and adjust your sales territory map
You always need to evaluate a sales region as it is not permanent. There are some factors that change over time. So you need to adjust and evaluate it as needed.
Use these tools and prepare a sales territory map
There are several computer programs available in the market to help you create a map for your sales region. They are Geopointe, Map My Customers, Maptive, Salesforce Maps, etc.
Map sales location using Google Maps
Google Maps is an ideal option to map a sales location electronically. It eliminates the need to use a highlighter to draw a physical map. But you will need to use other tools in addition to Google Maps as it is limited to some extent.
Conclusion
That is all you will want to know about mapping a sales territory. Kindly read the full article to know more
Visit original content: Here is Everything About Sales Territory Mapping
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Sales Territory - A defined area assigned to a specific sales rep or a team.
Usually, companies create and assign sales territories based on aspects like data, sales potential, industry, geography, product, purchase history, and past customer relationships.To make sure your territory strategies are working, an evaluation of how your sales team is performing to achieve defined targets is mandatory.
- Are the sales reps overloaded/underloaded with work?
But when you have monotonous excel sheets full of sales data, it becomes tedious to assess results.
It helps your team to visualize their sales territories data on a map and manage operations from there.
After finalizing the regions, the sales manager can create territories assigning a particular sales rep or a team to that area based on the number of clients, sales projection, and other aspects.
