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Sales Territory Planning Checklist

 

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Sales Territory Planning Checklist Entering a new sales territory is always a hard job that requires analytical skills and abilities. A sales representative assigned to this job needs to analyze the new market, identify prospects, define competitive opportunities, and create an action plan that ensures success of the job. This Sales Territory Planning Checklist gives a quick guide about how to enter sales territories.


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1. Understand Your Business.

  • Determine the key trends of the geography/market your business operates in
  • Define top prospects and customers of your business
  • Understand what customers prefer buying, and then check if your business can offer necessary products/services
  • Measure your conversion rates to understand how much business you can achieve in your market niche
  • Perform a gap analysis to understand the gap between what you need in your niche and what you have now

2. Understand Drivers that Make Customers Buy.

  • Perform a customer analysis to figure out why your customers wish to buy or not to buy your products/services
  • Identify characteristics of your high-payoff prospects and customers
  • Perform a market analyze to determine your competitive edge
  • Understand specific products/services that you sell more than competitors
  • Review customer activities and try to understand why your customers do not buy your products/services
  • Identify compelling events that drive the purchase
  • Define and analyze customer-related issues that your business needs to solve
  • Create an action plan that solves those issues

3. Clarify SWOT.

  • Conduct SWOT analysis to understand strengths, weaknesses, opportunities and threats your business deals with
  • Review the results of your analysis to identify:
    • What strengths your business is built upon (e.g. unique selling model)
    • What weaknesses the business needs to respond to (e.g. poor competitiveness)
    • What business opportunities you can exploit (e.g. changes in technology)
    • What threats affect your business environment (e.g. competitor movement)

4. Plan for Entering Sales Territory.

  • Identify which territory or vertical markets you will focus on
  • Determine opportunities you will try to exploit, considering the characteristics of your high-payoff customers/prospects
  • Decide what products/services you will sell in your vertical markets
  • Set sales objectives for your business (in the context of the vertical markets)
  • Create a strategy that accomplishes your sales objectives
  • Think about how you will generate new leads in the new territory (considering the results of SWOT analysis)
  • Develop an action plan that aims to increase your conversion rates
  • Figure out how you will manage and improve your selling process in the new sales territory
  • Enroll salespeople and provide them with necessary knowledge through training
  • Estimate and engage other internal.....

 



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