Territory Management

Geography + Account Valuation = Great Territory Management!
North

West

Base

East

South

Highest Value

Sales Certification Program
August 2005

Course Overview

Territory Management
This course will provide you with the knowledge and skills to efficiently and effectively establish, service and manage a geographic sales territory.

Course Objectives
At the end of this training session, you will be able to:
 EXPLAIN: How to Find Leads and Pre-qualify Prospects

 EXPLAIN: The Three Phase Approach to Territory Management
 EXECUTE: A Base + NEWS Prospecting Plan  DEVELOP: A Base + NEWS Territory Management Plan  EXPLAIN: The concept of Account Valuation  EXPLAIN: The concept of Account Deployment  DISCUSS: How you will eventually develop a Geographic + Valuebased Territory Management Plan

Territory Management
Some Basic Terminology:
 TERRITORY: The geographic area in which you sell.  ACCOUNT: A business customer.

 LEAD:

A business within the territory, that may or may not be a qualified prospect.

 PROSPECT: A potential customer account or person with whom you are not doing business today, but might.  BROKER:  CONTACT: A business owner or manager. Typically the decision-maker. A person within an account.

Territory Management
It’s An APPLe
 Applied Productivity and
Performance Levers, or APPLes,” are the competencies and skills required for success as a Sales Rep.

 Territory Management is one of
the eight major APPLes.
Technology

 Territory Management is a systematic, logical process that allows a sales rep to achieve optimal results from the potential customers in a given geographic area.

Territory Management
It is Accomplished By:
 Identifying leads and qualifying prospects  Allocating appropriate time and resources for prospecting, servicing, and developing accounts  Mapping routes efficiently  Prioritizing prospects and accounts to ensure that the energy, budget and time spent on them is in direct proportion to their value to the company, and to maximize the revenue and profit potential of the territory

Primary Objective

Territory Management
It is Important Because:
 It ensures the proper and efficient geographic coverage of the territory  It is a vehicle for balancing work load  It is a means of containing costs, such as travel expenses  It ensures proper market penetration and account development  Maximizing your territory translates into more loans, and higher commissions

Territory Management
Factors to Consider:
 Lead sources  Target account profile  Number and potential value of prospects  Number and value of accounts  Size and shape of the territory, including distance between key points  The layout of roadway systems, which determines the time between key points  Duration and frequency of presentations or visits

Territory Management
Three-Phase Process
PHASE I:
Prospecting Plan to Establish Accounts 90 to 120-150 Days 0 to 90 Days

PHASE III
Advanced Territory Management (Account Deployment) 120-150 Days +

PHASE II
Basic Territory Management Plan to Solidify Core Account Base

Territory Management
Phase I – Prospecting Plan

Prospecting Plan (Geographic)
North
 Find leads (from Marketing, personal experience, observation,

West

Base

East

South

       

state banking commission, associations, Yellow Pages, other advertising and/or networking.) Map leads using Base + NEWS method (geographic prospecting plan - divide territory into 5 parts, with the center being your home base and the others being North, East, West, South). Qualify prospects when possible (phone and other research). Set appointments when possible. Visit prospects on appointments when possible or cold call as needed. Rotate the areas/accounts you visit based on day. Start at the farthest-most office and work your way back home. See 8-12 prospects per day - run sales meetings and presentations. Do Account Selection… retire prospects and acquire accounts, as appropriate. Balance your efforts over time based on overall account potential compared to revenue realization.

Territory Management
Finding Leads
You may receive some leads from Marketing. To do that…  Contact your Territory VP and follow
their instructions.

You must also:
 Research state banking commission Websites

Know that…
 They may automatically send a list of prospects within your territory for you to review…
 You may need to request it.  There may not be many or any good leads in our database  These leads are customers that have worked with us at some point, or that we know about. That’s why…

 Search the Yellow Pages  Search online sources such as www.411.com and www.smartpages.com  Review other advertisement sources
 Join and get member lists from associations

 Network within your market and community
 Ask for referrals from prospects and accounts

Territory Management
Pre-Qualifying Prospects
 Call leads by telephone to confirm they’re in business, meet our pre-qualifcations, and are not already working with us. (Set an appointment if possible.)  Cold-call those prospects who won’t talk on the phone, when you are in their geographic area. (Get and give business cards; set an appointment).

 Talk to others inside the prospective account… receptionists or others.
 Ask questions of referral sources and our employees; gather information from all viable sources. Be creative.  Look for large Yellow Page or other ads.

 If it’s a known account that has deactivated, research past production.

Territory Management

Hit the Road
Now it’s time to put your Prospecting Plan into action:
 Go the appointments
 Cold call as required  Use your Partnership Selling and Account Selection skills  Work hard to establish accounts and get ready for Phase II of Territory Management

Territory Management
Phase II – Basic Territory Management

North

Basic Territory Mgt. (Geographic)
 Continue the Base + NEWS system.  Visit 5 accounts per day and see 1-3 prospects per day (if prospects are limited, see more accounts). See at least 2 in the morning and 3 in the afternoon. (Same accounts, same days, same locations, and same times – throughout the month.)  Spend one hour at a office for every sales you made there last month, or expect to get this month.  Contact the right people for the right action. Use your inside staff and Solutions Desk to get product/underwriting/policy questions answered. Use your TVP to get obstacles removed, or for help with special customers in the field.  Continue to work with accounts geographically to further profile, confirm your Account Selection decision, and develop production potential.

West

Base

East

South

Territory Management
Phase III – Advanced Territory Management

North

Account Deployment Preview
East
 Evaluate and rank accounts based on Past and Current production, and Future production potential (PCF).  Rework Territory Plan to spend the most time (more than one visit per week) with top-ranked accounts with the most value, and see remaining accounts once per week (or less) geographically (or by phone). Effort spent on accounts should be in direct proportion to their value.  Visit 6 accounts per day and see 1-2 prospects per day, as availability allows (if prospects are limited, see more accounts).  Spend one hour at a office for every sales made last month, or expected this month.  Contact the right people for the right action. Use your inside staff and Solutions Desk to get product/underwriting/policy questions answered. Use your TVP to get obstacles removed, or for help with special customers in the field.

West

Base

South

Highest Value

Territory Management
Phase III – Advanced Territory Management

Account Valuation Preview
Highest Value

Territory Management
Course Review
      Territory Management is a systematic, logical process that allows you to achieve optimal results from the potential customers in a given geographic area. The primary objective of Territory Management is to maximize the revenue and profit potential of your territory. You do that by prioritizing prospects and accounts to ensure that the energy, budget, and time spent on them is in direct proportion to their value. Leads may come from internal sources and your own research. Initially, calling prospects ensures they’re still in business and can save you time. When you have an account base that you visit weekly, you can see other prospects when you are in the area. For a new sales rep, Territory Management is a three-phase process.

Territory Management
Course Review
PHASE I: Prospecting Plan to Establish Accounts  Find leads.  Map leads using Base + NEWS method (geographic prospecting plan).  Qualify prospects, when possible.  Set appointments, when possible.  Visit prospects on appointments or cold call leads.  See 8-12 prospects per day – run Broker Meetings and LO Presentations.  Select, retire and acquire accounts, as appropriate. PHASE II – Basic Territory Management Plan to Solidify Core Account Base  Continue to work with accounts geographically to further profile, confirm selection decision, and develop production.  Visit 5 accounts per day, and see 1-3 prospects per day (if prospects are limited, see more accounts).

PHASE III – Advanced Territory Management (Account Deployment)
 Evaluate and rank account production and potential.

 Rework Territory Plan to spend the most time (more than one visit per week) with accounts with the most value, and see remaining accounts geographically.  Visit 6 accounts per day, and see 1-2 prospects per day (if prospects are limited, see more accounts).

Territory Management
Course Review
 This concludes our course on Territory Management

 Thanks for your attention and efforts
 Best of success on the Course Assessment!

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