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Designing a sales territory plan is a crucial process for any sales organisation to maximise its sales efficiency and revenue. Here are some key steps for designing a sales territory plan:
Define your sales goals: Start by defining your sales goals for the upcoming year. This can include revenue targets, customer acquisition targets, market share goals, and more. These goals will help guide the overall structure of your sales territory plan.
Segment your market: Divide your market into segments based on geography, demographics, industry, or other factors that are relevant to your business. This will help you create territories that are focused on specific customer types or regions.
Analyse your data: Collect and analyse data about your sales performance in each segment. Look at factors like customer behaviour, sales trends, and market share. Use this data to identify areas of strength and weakness and to determine which territories need the most attention.
Allocate resources: Based on your analysis, allocate your resources to each territory. This includes assigning sales reps, providing marketing support, and setting budgets for travel and expenses.
Set metrics: Set metrics for each territory that will help you measure performance and progress towards your sales goals. This can include targets for sales volume, customer acquisition, and other key performance indicators.
Monitor and adjust: Monitor your sales territory plan regularly and make adjustments as needed. This could involve reallocating resources, adjusting sales strategies, or shifting focus to different segments based on changes in the market or customer behaviour.
By following these key steps, you can design a sales territory plan that maximises your sales efficiency and helps you achieve your sales goals.
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