Lindsay Richardson, Jennifer Rossbach
Card stores, jewelers and florists are preparing for their busiest season of the year. With Valentine’s Day right around the corner, you are giving extra attention to your loved ones. Your loved ones are the people who bring out the best in you, similar to how territory management systems are designed to bring out the best in each territory. Without a territory management system, chances are you wouldn’t know where to focus your attention, you wouldn’t be pairing the right rep with each territory, your expense account would be larger, and you would close fewer deals.
You wouldn’t spend Valentine’s Day focusing on people who don’t bring out the best in you, so why spend time creating territories that don’t provide the best results? Instead of spending your Valentine’s Day thinking about the deals that got away; adopt a territory management system to find your match.
Get the most out of your relationship with better territory alignment
Today, over 40% of sales reps have a schedule that is either overbooked or under-scheduled. Even worse, those reps that are overbooked in the last three quarters of a fiscal year are often not busy during the first quarter. This first quarter lull, which many companies experience, is because reps haven’t been assigned a territory yet. An effective territory management solution allows sales reps to start their fiscal year running. When reps have all 52 weeks in the year to achieve their quota, the bottom line will increase. Correctly aligned territories spread high potential opportunities equally among reps and eliminate wasted time and resources.
Love deeper than the surface with advanced formulas
True love is certainly more than what you see at surface level, and a territory management system is no different. Leonard M Lodish, Associate Professor of Marketing at the University of Pennsylvania, created a mathematical model to determine maximal profit solutions. One way this model increases total profitability is by “taking sales time from territories with small marginal value and adding it to those of high marginal value”- i.e. changing territory boundaries.
Every company has a unique set of best practices that wouldn’t work for another company the same way. Similarly, one standard territory assignment wouldn’t work the same way in multiple organizations. The advanced formulas working beneath the surface of a territory management system ensure that the territory boundaries are as effective as possible. These boundaries can apply not only to state lines, but to industries, product lines, and additional unique methods.
Sales reps spend about 20% of their time traveling, often in an unorganized manner. Selecting a geographical territory alignment, for instance, would reduce the amount of time reps spend in cars and on airplanes, and in turn, increase the amount of time they spend selling and generating revenue.
Test your relationship before you commit with territory proposals
The future is scary to think about, especially for a sales organization with a volatile market. Finding the right territories for the present and future can help alleviate these fears. With Fusion Territory Management companies can manage their territories before they become permanent with live information and real production data. Eliminating ‘the guessing game’ allows users to evaluate territory alignment ideas and compare them to see which would be more productive. When managers have free time, they can formulate a territory proposal, and save it until they wish to use it days, weeks, and even months later.
With a valuable territory management system companies can be sure all their customers are receiving the attention they deserve. Just like Valentine’s Day is for focusing on loved ones who bring out the best in you, territory management systems are used to bring out the best in each territory. This Valentine’s Day, don’t rely on a manual alignment of territories and risk letting a customer get away. Adopt a beneficial territory management solution to find your match.
Want to find out more? Join our webcast on February 15 from 10-10:30 am PST / 1-1:30 pm EST