What are the critical steps in writing a successful Sales Territory Plan?

You may be wondering, ”Where do I start?¨ The key is asking the right questions to harness the insights you need to create a winning plan. Use this checklist as a guide.

1. Analyse your Territory/Business

• Start with what is going on in your territory/vertical market.
• What are the key trends in your geography/ market?
• Who are your top prospects and customers?
• What are customers buying?
• Based on your conversion rates, how much business do you need in your funnel?
• What is the gap between what you need in your funnel and what you have now?

2. Understand what Drives Customers to Buy

• You must understand why they are buying or not buying your products.
• What are the characteristics of your “best” customers/prospects?
• Are there verticals that you are winning in more than others? Why?
• What “pain¡” or business issues do you solve?
• What compelling events drive the purchase?
• Are there specific products/services that you are selling more than others? Why?
• Why do they not buy your products/services?

3. Clarify your Strengths,Weaknesses, Opportunities and Threats (SWOT)

• Conduct a SWOT analysis that examines:
• What Strengths will you build upon? For example, a unique business model or capabilities.
• Which Weaknesses do you need to respond to? This includes the strengths of competitive and alternative solutions.
• Which Opportunities in your marketplace will you take advantage of? How do you uniquely meet your buyers¡¦ compelling needs?
• What Threats in your selling environment will you defend against? Consider competitive moves, changes in technology, industry and regulatory standards.
• What is your unique selling (value) proposition?
• What is your average close rate in percentage from opportunities to orders.