Sales territories need to be evenly balanced for optimal efficiency and effectiveness. It helps prevent issues like overlapping salespeople or high-value accounts from falling through the cracks.
Consider geographic location, business size, industry data, target demographics, and more when dividing territories. Also, factor in your company’s overall sales goals and objectives to ensure each territory has realistic opportunities.
Reduce Errors
Managers can quickly analyze the performance of territories and individual reps using sales territory mapping software. They can also compare accounts and current pipeline opportunities, ensuring that each territory has enough revenue potential to meet its growth goals. The software allows for a more thorough analysis of territory-related factors compared to the limited perspective offered by spreadsheets alone.
It helps design balanced, efficient, fair territories that maximize revenue generation. One of the most important considerations is ensuring that workloads are distributed evenly. Overworked reps will be less effective, so ensuring that each sales team member is allocated a reasonable amount of work is critical.
Sales territory map software enables businesses to evaluate the performance of each team and individual reps, ensuring that everyone is performing up to expectations. It allows management to identify and address any issues before they become more significant problems, which is vital for optimizing sales and improving productivity. This process also makes it easier to reassign territories when business changes or staffing issues arise.
Increase Sales
Sales territory mapping helps optimize sales performance by ensuring reps can manage their workload without sacrificing quota achievement. It ensures that the territories assigned to each team member are doable, provide enough opportunity, and align with their skill set and experience. It also helps to reduce the likelihood of missed opportunities due to misallocations.
When creating sales territories, most managers look at geography or visualize accounts and loosely group them for one rep to handle. This flawed approach can lead to dissatisfied clients and missed opportunities. Instead, consider using data-driven methods like customer acquisition cost (CAC) to create sales territories that are both viable and equitable.
The correct mapping software can be integrated with a CRM, which helps salespeople track their leads and sales performance. It gives them the visibility they need to make adjustments quickly and efficiently. It also helps improve overall team productivity by reducing time-consuming tasks such as mileage tracking and routing. It can also help boost sales rep morale by ensuring their workloads are balanced and attainable.
Reduce Operational Costs
Sales mapping software saves time in territory planning, realignment, and optimization. The data visualization tool helps eliminate operational redundancies, making it easier for managers to identify and assign new opportunities to reps.
Sales territories must be clearly defined and aligned with sales goals to ensure your teams have the tools to grow revenue. Having well-balanced territories reduces the risk of underperforming territories and allows you to assign reps who can meet and exceed quotas. Customizing sales territories by region ensures your team is assigned the right customers.
It can help identify geographic factors influencing customer behavior, such as distance and travel times. You can also segment your sales territories by customer type, such as industry-based or product-based. You can also use sales mapping to identify opportunities in your market and encourage business growth.
For example, if your market is experiencing shifts in customer behavior, consider realigning your sales territories. In addition, you can utilize a heat map to visualize sales performance and identify high-performing hotspots in your territories.
Increase Employee Morale
When territories are appropriately designed, your sales team can deliver a better customer experience and grow sales. Consider demographics, customer data, competitors’ data, and your business goals and objectives to create sales territories. Territory mapping tools allow you to visualize data to make informed decisions about allocating sales territories.
You can cluster territories based on proximity to improve efficiency, split territories based on equal populations, or optimize sales territories based on historical performance.
Balance territories to ensure each rep has sufficient current leads and new account opportunities to manage without overworking them. It helps ensure satisfied customers and missed opportunities. Continual review and realignment also allow you to adjust for market changes, such as demographic shifts, economic fluctuations, or new competitors.
It makes your business more responsive and competitive, increasing overall business presence. Territory mapping software can help you make these adjustments quickly and easily. It also allows you to create what-if scenario analysis with critical stakeholders, accelerating the process and improving outcomes.
Increase Customer Satisfaction
Territory mapping software can help you create clear, organized territories that fit your sales team well. It will lead to greater customer satisfaction, which in turn will increase your business’s overall success.
A well-balanced territory allows your sales reps to manage the number of prospects, customers, and leads they have. It also ensures that each territory contains enough opportunities to meet sales goals and cultivate future growth.
Conclusion
Using a sales territory mapping tool like Maptive, you can visualize data on a map that would be difficult to discern when looking at it in tabular form. This process can also uncover patterns and trends that you wouldn’t be able to see when analyzing data in spreadsheets.
Another benefit of using a sales territory mapping tool is that it can help you analyze demographic information and make data-driven decisions about optimizing your territories for performance and efficiency. For example, if a particular territory has struggled to generate business, it may be due to lower median household income.