Sales territory management software has become an indispensable tool for sales operations teams. The drivers behind the growth of territory alignment and optimization software have been:
- A fiercely competitive landscape
- Greater adoption of analytical and performance-driven sales metrics for strategy and planning
It means organizations are looking for ways to transform sales data into insights such as market gap analysis and sales territory design and management.
73% increase in adoption of territory management software since 2012
Territory mapping is the easiest way to visualize your data as it allows you to overlay multiple datasets bringing insights to the surface. These insights drive business decisions about salespeople and account locations by identifying which territories are over or under-served.
You lose potential revenue, time, and money with poor territory management. And administration inefficiency is an added burden affecting sales operations teams.
Read on and learn new approaches to enhance your sales territory management process.
What will you learn from this guide?
- What is territory management, and why it's vital for your business?
- How territory management can benefit sales operations and salespeople
- Why you should be using territory mapping software to manage your alignments
- How to select the right mapping software for your needs
What is a sales territory?
A sales territory is the customer group or geographical area for which an individual salesperson or a sales team holds responsibility.
You design sales territories based on geography, sales potential, history, workload, or other factors. Companies strive to balance their territories to drive sales effectiveness, reduce costs and increase sales.
What is territory management?
Territory management is a methodology to control, optimize and improve territory alignment and structure your sales resources and activities.
The goal is more profitable selling time or time invested in your highest potential, highest priority customers. It includes balancing and aligning territories to maximize sales productivity or utilization. The challenge is that those territories are often unbalanced; some may be underserved or valuable resources could be misdirected to low-value customers or verticals.