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Territory Management:Kick Start Your Year
C O M P L I M E N T A R Y W E B I N A R
This document contains proprietary information of ValueSelling Associates. Its receipt or possession does not convey any rights to reproduce or disclose its contents or to manufacture, use, or sell anything it may describe. Reproduction, disclosure, or use without specific written authorization of ValueSelling Associates is strictly forbidden.
21 January 2016 | Julie Thomas
This document contains proprietary information of ValueSelling Associates. Its receipt or possession does not convey any rights to reproduce or disclose its contents or to manufacture, use, or sell anything it may describe. Reproduction, disclosure, or use without specific written authorization of ValueSelling Associates is strictly forbidden.
DoingInvest
It
Invest in doing it right.
Territory Management
Territory Management
Preparing
Prospecting
Researching
Qualifying
Discovery
Proposing/Presenting
What we’ll learn today
Review the basics of Territory Management to start your quarter off on the right foot
How to work smarter, not harder
Preparing: Planning and prioritizing your time
Prospecting: Getting in the door
Geographical
Named or Key Accounts
Global Accounts
Channel Partners
What type of territory do you have?
Preparing
Goal-setting• What are you trying to
accomplish?
• Break down to consumable and manageable units
Your ideal customer and prospect:• Size: A, B, C• Economic Health• Past Performance• Competitive Installations• Geography• Business Issue/Problem Profile
Goal Setting Quota
Average Transaction Size
Total Number of Transactions Required
Average Win Ratio
Total Number of Qualified Prospects Required
Pipeline Ratio
Total ProspectingYear- Month- Week
Goal Setting
10
Quota $2,000,000
Average Transaction Size
$125,000
Total Number of Transactions Required
$2m/$125K = 16
Average Win Ratio1 out of 3
Total Number of Qualified Prospects Required
3 x 16 = 48
Pipeline Ratio 1 out of 7
Total ProspectingYear- Month- Week
7 x 48 = 336/yr28/month, 7/week, 2/day
The Funnel Concept
The Universe
Suspects
Prospects
Customers
Suspects
Prospects
Customers
QualifiedProspect
13Your Universe
The installed base:Are they happy?
Can we grow them?
What new opportunities can be created?
ProspectsTarget markets
Industry
Situations
Qualities
Circumstance
Size
What causes people to line up?
Buying Frenzy
Develop profiles?
Leverage the success of one sale to motivate
others?
Buying Frenzy
Identify and profile prospects with similar “situations”─Business Issues
─Problems
Use reference stories that match the profile
Leverage the success of one sale to motivate others and gain attention
Build the List
Leverage knowledge of partners, where possible
Where do you find the information?─Local media
─Industry associations
─Internal data
─External data
─Social networking
─Referrals
Prioritize
Competition PastPerformance
Health Geography Size Account
The Campaign
It is about THEM,
not YOU
Real issues,real value
Overwhelm the prospect with:
Anxiety InfluenceMotivation
Warming Up the Cold Call
Previous customers and internal data
Introductions from your
network to theirs
Introductions are better than names:Make it personal
SummarySet goals based upon territory and personal goals
Align your time to meet your goals
Create ideal customer profiles and prioritize
Launch campaigns to gain access
Adjust and revise activities and goals based on current success and reality
What image comes to mind?
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