Businesses wanting to optimize their performance should consider sales territory mapping essential to running the company. Unfortunately, this aspect is often time-consuming and complicated, making it challenging to keep up with different economic shifts and changes. Look no further if you’re hoping to uncover everything you need about sales territory mapping. Here’s a complete guide to everything you need to know.
What is Sales Territory Mapping?
Simply put, sales territory mapping organizes different territories into an optimized boundary for sales productivity. Businesses can use other parameters that make the most sense for the sales team, including proximity to existing clients, revenue potential, demographics, or distance from the warehouse. Individuals can determine unique boundaries based on factors such as customer concentration, transportation or logistic routes, and population density. This organization is critical for any business relying on a geographic territory to drive sales.
As the territories become defined, owners can confidently assign each to different sales reps on the team. Most businesses will hold unique KPIs when developing targeting, but well-designed maps can identify new opportunities, understand all customers better, and continue to track performance.
Differing Types of Sales Territories
Organizing your sales territories will depend on multiple influencing factors, with each item identifying unique benefits to the organization. These types of sales territories depend on what your business goals are. Finding the ideal territory for your organization is relatively straightforward; using your definitions of success to guide your planning. Various types of boundaries might include:
Geographic territories: Potentially the most common type of boundary, this area is delegated by the physical border. Examples of boundaries include zip codes, city limits, or counties.
Industry territories: An industry territory will define boundaries through the company’s involvement. For instance, a company that holds two separate sectors will use those as naturally occurring boundaries.
Customer territories: These boundaries factor in a company’s customers when defining the limits. These might include segregating customer groups, including large corporations and small businesses.
Product territories: Territories will define according to the services or products a company sells. For instance, businesses might hold separate regions for various product lines.
Why Does a Business Need Sales Territory Mapping Software?
Developing a sales territory map holds many benefits for the company. It helps businesses of all sizes optimize their sales team and boost sales. Although the planning aspect is complicated, technology can facilitate planning and development. Using the software, sales teams can optimize their customer base while remaining organized. This efficiency shows in the tracking of customer data, analysis of sales, and development of new territories.
Comprehensive Data
A business that relies on sales territories should know a well-defined territory offers more significant revenue. Sales territory mapping provides a complete analysis of consumer data, highlighting unique trends within the company. Automation helps business owners track results over time, bringing a powerful tool to businesses.
Additional Flexibility
Sales territory mapping software allows the sales team more significant levels of flexibility overall when managing their territories. Traditionally, sales teams are confined to pre-determined boundaries that make it challenging to optimize sales initiatives. With software, the sales team creates custom regions through various factors. As a result, sales teams can target efforts and improve their results.
Conclusion
Sales territory mapping is critical for any sales team wanting to optimize its performance. By focusing on company objectives, defining the natural boundaries of a company is effortless, especially when relating to optimization and efficiency. While the process was once complicated and time-consuming, automation has significantly improved outcomes for sales managers and the team navigating territories. With clear goal setting and objectives guiding the territory development, businesses can capitalize on sales territories.