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Transcript of Territory Management
Territory Management
Base EastWest
South
North
Highest Value
Geography + Account Valuation = Great Territory Management!
Sales Certification ProgramAugust 2005
Course Overview
This course will provide you with the knowledge and skills to efficiently and
effectively establish, service and manage a geographic sales territory.
Territory Management
Course Objectives
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 + Value-
based Territory Management Plan
At the end of this training session, you will be able to:
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: A business owner or manager. Typically the decision-maker.
CONTACT: A person within an account.
Some Basic Terminology:
Territory Management
Territory Management
Territory Management is one of
the eight major APPLes.
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.
It’s An APPLe
Applied Productivity and
Performance Levers, or
APPLes,” are the competencies
and skills required for success as
a Sales Rep.
Technology
Territory Management
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
It is Accomplished By:
Primary Objective
Territory Management
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
It is Important Because:
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
Three-Phase Process
PHASE I:
Prospecting Plan to Establish Accounts
PHASE III
Advanced Territory Management (Account Deployment)
Territory Management
PHASE II
Basic Territory Management Plan to Solidify Core
Account Base
0 to 90 Days
120-150 Days +
90 to 120-150 Days
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 ManagementPhase I – Prospecting Plan
Base EastWest
South
North Find leads (from Marketing, personal experience, observation,
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.
Prospecting Plan (Geographic)
Start at the farthest-most office and work your way back home.
Search online sources such as www.411.comand www.smartpages.com
You may receive some leads from Marketing. To do that…
Contact your Territory VP and follow their instructions.
Finding Leads
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
You must also:
Research state banking commission Websites
Search the Yellow Pages
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…
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.
Pre-Qualifying Prospects
Territory Management
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
Hit the Road
Territory Management
Now it’s time to put your Prospecting Plan into action:
Base EastWest
South
North 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.
Basic Territory Mgt. (Geographic)
Territory ManagementPhase II – Basic Territory Management
Base EastWest
South
North
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.
Account Deployment Preview
Highest Value
Territory ManagementPhase III – Advanced Territory Management
Highest Value
Account Valuation Preview
Territory ManagementPhase III – Advanced Territory Management
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.
Course Review
Territory Management
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
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.
This concludes our course on Territory Management
Thanks for your attention and efforts
Best of success on the Course Assessment!
Territory Management
Course Review