Using a Territory Management System to Increase Sales Productivity
For manufacturers and distributors that do business across several regions, an effective territory management system is vital. Without a well-thought-out strategy, sales can be tough to land. Territorial management is at the heart of any company’s sales operations. All key processes, from sales force planning and deployment, to performance tracking and financial reporting, depend on knowing who’s assigned to which accounts and that your sales reps’ time is spent wisely. Designing a territory management system requires meticulous planning. Carrying out that strategy is a whole other story. Luckily, there are solutions to help with the process. Let’s talk about some of the ways in which a territory management system can automate territory management.
How to Use a Territory Management System to Increase Sales Productivity
Model your territories
Territorial models can help determine the most effective hierarchies, assignment rules, and territory assignments for your business. By modeling your sales territories into a logical and flexible structure, your sales team can maximize revenue in half the effort. Territory models can be based on geography or customer types, and are used to promote effective usage of the sales team to maximize sales opportunities, provide superior customer service, and expand existing customer relationships. For example, if your business offers free shipping in a certain territory, or unique products for an individual customer, territory management software can assign rules to territories so that sales reps do not have to manually apply them when writing sales orders.
Apply a territory-specific pricing system
Pricing is one of the most complex aspect of any business. Territory management software can help set up custom pricing configurations for different territories. Pricing options like territory-specific price lists, discounts, and multiple currency support can all be structured through more advanced territory management software. In wholesale, automating the pricing system will remove some of the intricacies of writing a sales order. With some mobile order writing and order management solutions, you can even set specific pricing at the individual customer level. With these kinds of solutions in place sales reps no longer need to scrutinize price sheets or remember complex pricing schemes.
Assign customer accounts to territories and reps
Sales territories must balance rep workloads, ensuring that reps efficiently cover your most profitable customers. By assigning customers to specific sales reps, territory management software can coordinate what information is disseminated to each rep, ensuring that each sales rep can only see the customer and sales order information that is most relevant to them. For example, territory management software lets sales teams restrict the visibility of certain brands or products in a sales rep’s catalog. This is critical if a manufacturer or distributor has sales reps who only sell certain brands within their respective portfolios. Territory management software can also accommodate staff changes. If a sales rep transfers offices, or is reassigned a customer account, territory management software will seamlessly modify your territory model so that no customer is left behind.
Track territory performance
Territory management software holds sales teams accountable, allowing sales managers to report on the performance of their country, regions, or sales reps. Custom reports can also help sales teams organize territory models for optimum coverage. The availability of this data empowers sales managers to add and redraw territories based on performance. Questions about territory management solutions? Let us know in the comments!