It is important to regularly rethink how to run and supervise your territory and sales force. It is a waste of time and resources visiting people who do not have the slightest interest in availing your products or services. Even a phone call made to a wrong client with 0% interest in your business is a waste. Everything in the market is continuously changing. The demands of customers and the supply of your competitors are continuously evolving. Thus, a great sales volume starts with an updated sales territory plan.
A sales territory plan gives a predictable illustration how to obtain good sales and successful business. The plan is show as a map that is divided usually via geographic criteria. Creating a sales territory plan based on geography is easier and more efficient because it allows you to save your resources when sales reps need to visit the clients. However, a sales territory plan will not be effective if it is not adjusted according to the behavior of the market. A good practice is to update the plan annually but if possible, doing it quarterly can be more beneficial. Here are the three reasons why you should keep on updating your sales territory plan regularly.
- The market is always in transition. Both your potential customers and competitors are revolutionizing. The needs of your customers are becoming more complex while what your competitors can offer is becoming broader. Your sales territory plan should be able to catch up with the pace of the market. Some of your old products or services will be eliminated. New products or services should be made available by your business. Your sales reps should be trained continuously to handle these changes.
- The change in supply and demand can affect the geographic criteria in your mapping. You might need to transfer a few ZIP codes from region to another region. You might even find it effective to combine regions or split them depending on the behavior of the market. You might also need to reassign sales reps from one slow performing territory to a high performing territory. In essence, the map needs to adapt to the changing geography.
- Your business should be driven towards continuous improvement. This means that all aspects of it should be updated and the most important thing to start is the sales territory plan. Many elements in your business depend on this plan that is why its contents should always be correctly aligned.