Whether a “territory” for your company is a city block or a geographic region, you can ensure getting the most out of it by asking three questions prior to assignment:
- What are my goals? Managers need to understand what they hope to accomplish in each region, which areas offer specific clusters of prospects, and which salespeople have the best track record with those types of prospects.
- Who are my targets? Who are the prospects you have the best chance of closing, and does the amount of time, staff and resources you devote to each region reflect the revenue potential of that territory?
- What’s the best strategy for closing as many prospects as possible in this region? We’ve all heard the phrase, “different strokes for different folks.” In terms of territory management, managers need to consider which salespeople are the best fit for each area. But they also need to consider which overall strategy (e.g., live demos, referrals, advertising, etc.) offers the best chance of winning as much business as possible.
Source: “How to Set Up Sales Territories,” by Tim Donnelly, Inc., 9/2/11.