Innoveer's Territory Management Best Practices
The secret to effective sales: Put the right effort into the right activities and with the right customers. Don’t chase the wrong leads. Focus on the right accounts. And to ensure that, you need territory management.
Improve Territory Management and To Increase Sales
Territory management ensures that the right effort is being put in the right activities with the right customers. To do that, effective territory management is based on segmenting customers and prospects and then prioritizing call planning, prospecting and opportunity management according to these segments.
Why plan your interactions with customers and prospects? All of the research has shown that sales teams with a plan are much more likely to achieve their goals. Yet a quarter of the companies we work with do no account planning. Another 25 percent use a standard template but infrequently measure their success against it or revise their plan. Only our most advanced clients pursue account planning that includes marketing and customer service.
Clients with improved account planning efforts benefit in many ways like increased organizational efficiency, and ultimately improved sales. This is beneficial for any company, but even more so for industries with highly specialized and thus quite well-remunerated salespeople, such as medical device manufacturers.
How To Improve Your Territory Management Approach
When you work with Innoveer’s CRM experts to master territory management, we analyze these four areas and make recommendations based on our best practice model:
- Account Planning: Build annual or periodic sales activity plans to achieve account objectives
- Customer Segmentation: Prioritize activities through customer categorization
- List Management: Identify targeted customers or prospects for specific actions
- Cross Functional Collaboration: Join forces with other customer-facing functions -- marketing, service, engineering -- to meet shared objectives
These recommendations might be part of an implementation of cloud CRM technology for sales automation, or stand-alone business process improvements.
Contact Innoveer today to learn more.
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Innoveer’s SFA Accelerator delivers a complete, cloud-based CRM program — using Salesforce.com or Oracle CRM On Demand — in less than 4 weeks. For a fixed price, benefit from account management, opportunity pipeline management, sales stage capabilities, activity and calendar management, pipeline reports, dashboards and more.
Optimize Sales Programs Or Perform A Health Check
Take SFA capabilities to the next level. Identify the best “next steps.” Innoveer’s brief workshop, based on our CRM Excellence Framework, identifies which next step will generate the biggest returns. Understand the time, cost and benefits of initiating or increasing your program’s results, such as improving territory or pipeline management or increasing overall automation and sales measurement.
Top 10 Steps To SFA Success
Successful SFA projects include business and management guidance not just technology. The big-picture perspective is important to remember. Review our “top 10” checklist for SFA success to see how your program compares to best practices and our benchmarks.
Success Story
Kronos Incorporated
Innoveer worked with the global leader in workforce management solutions to help redefine their territory assignment process with an objective to implement rules and account-based territory management. The result was that Kronos could allocate accounts efficiently and clearly, provide data consistently, improve segmentation and lead delivery and avoid conflicts.
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