When looking to increase revenue from your business operations, one of the best places to start is by maximizing the efficiency of your sales team. Sales territory planning makes this easy by creating balance among sales territories and helping your sales reps better understand account characteristics and opportunities in certain areas. Sales territories define how the efforts of your sales team will be divided and can be based on geography, product line, or account attributes such as size, or industry. Well-balanced sales territories help you assign sales reps to the right accounts and create equity amongst your sales team in order to meet quotas, boost sales, and improve morale.
Develop A Winning Sales Territory Plan
To create an effective sales territory plan, it is essential to look at your TAM (Total Addressable Market) and ICP (Ideal Customer Profile) to develop the most productive strategy for your sales team. Having a solid understanding of your ICP is key to developing your sales territories as it will help your sales team identify which accounts to prioritize, allowing them to focus their efforts on the accounts with the greatest revenue potential. HG Insights provides unique account intelligence so you can better understand what technologies your accounts are currently using, how much they are spending in specific areas of IT, and what contracts are in place in different locations, regions, and countries. These insights are critical to optimizing your sales territories and enable your entire sales team to generate the most revenue from their assigned regions.
Expand Your Sales
When a certain marketplace becomes saturated with your product type, it can be hard to continue to grow and create sales. Identifying target markets with low competitive penetration in your territory plan will enable your sales team to focus their efforts in the most revenue-boosting geographical locations. Our insights help reveal the unique characteristics of different markets so that you can ensure that your sales team is expanding your business in the right direction. This way, you can equally divide up your sales territories where the concentration of your ICP is the highest and your product has the least competition. When your sales team members’ areas are efficiently assigned, you are able to act on new opportunities before your competitors and beat them to the sale.
IT spend and tech install intelligence allow you to manage your global territory plan and ensure your sales teams are scaled and aligned with the market opportunity to which they are assigned. Specifically, IT spend can help you correctly measure revenue potential in a given territory, allowing you to allocate equal and efficient territories among your sales team. HG Insights also offers technology install intelligence that provides your salespeople with crucial details such as where competitive or complementary solutions are in place allowing them to build more effective strategies and messaging.
With these insights, your sales team can spot patterns within your TAM to create balanced and cost-effective sales territories and strategies that give all your sales reps equal opportunity at finding and closing deals to meet their quotas. When your reps have controllable and equal workloads, it provides them with more earning potential which will motivate their selling initiatives and keep them wanting to sell for you.
- See how to use the best data to make the right decisions on where to invest next on our Sales Territory Planning page.