It is important to create a sales territory plan when you are responsible for selling in a specific territory. The plan should include a SWOT analysis as well as balanced territories. This blog post will show you how to create your sales territory plan. Let’s get started!

To maximize sales productivity and close more sales, sales teams must be well-balanced.

Sales managers must create a plan for their territory that will enable them to achieve this goal.

These 6 steps, along with a SWOT analysis, will help you get started today.

First Step: Recognize Your Strengths and Weaknesses

Understanding your team’s strengths is the first step to creating any kind of territory plan. What are the areas of expertise in your team? What could they do better?

This will allow you to concentrate on the territories in which your team is most likely to succeed. Sales managers can also use this information to give sales reps the most thorough sales training.

Step 2: Perform a SWOT analysis of your Competitors

A competitive analysis is an essential part of any sales territory planning. Before you dive into the details of how your team will be selling in each territory, it’s important to do one.

Sales managers can use a SWOT analysis to determine the strengths, weaknesses, and opportunities of their competitors.

Step 3: Identify your company’s strengths and weaknesses

In addition to a SPOTIO.

KPI-based data using configurable fields and statuses

Diagrams showing team performance, ideal day and time to knock, etc.

It takes a lot of effort to establish connections, generate leads, and close transactions.

These data provide you with all the information you need to evenly distribute responsibilities within your sales team.

7-Step Guide for Writing a Profitable Business Plan for a Sales Territory

The obvious next question to ask is where do you start?

In this section, we’ll give a summary of each planning step, along with key questions and suggestions.

Depending on the offering you have, your industry, your company size, and other factors, you might use some or all of these methods when creating your territory strategy.

Common Business Goals Checklist

1. Examine the goals and objectives of your company.

The first step to creating a sales plan that works is to bring clarity to your company’s landscape and review industry trends.

This is the first phase, which will help you and your colleagues understand the purpose of your sales territory plan.

This data should be referenced as you move through the remaining steps of the process. It will help you to ensure that your plan is achieving the goals you have set.

To get your creativity flowing, start by answering these questions:

What is your most recent vision, purpose, and north star goal?

What are the top trends in your market or field?

Which problem can your product or service solve?

What are your sales goals in terms of numbers?

How high is your website’s conversion rate? This will tell you how many prospects you should have in your funnel to reach your sales goals.

Do you sell certain products or services more often than others? Why?

2. Take a look at your prospects and clients

The second step is to thoroughly examine your customer base. It is crucial to fully understand your customers’ businesses, their challenges, and their distinguishing characteristics.

Here are some questions you should be asking:

Who are your most lucrative and profitable prospects and customers based on industry, location, product, etc?

What does it have in common with all these clients?

Which prospect or customer gives your company the greatest growth potential?

What are your customers buying now? And what do they tell you about their opportunities and problems?

Which industries are you most successful in? Is there a sector in which you have had less success?

What are the top reasons prospects and customers object to your offer?

3. Find out the size of your total addressable markets

Your Total Addressable market (TAM), is the total number of people who meet your customer profile. Traditional firms start mapping their TAM using industry, geography, and revenue data.

This is an essential aspect of the TAM, but technology and tooling make it possible to find prospects that may not be immediately obvious.

You can find industry and company look-alikes using both old and new sources, such as social media.

After establishing the ideal client profile, the next step is to determine the size market opportunity that matches the profile. You can use a matrix to include several large and small markets, with both big and small prospects.

Although calculating the market size used to take a lot of guesswork and complex calculations, many firms now use tools to automate this process.

4. Conduct a SWOT (Strengths, Weaknesses, Opportunities, Threats)

A SWOT (Strengths/Weaknesses/Opportunities/Threats) study is a straightforward approach to evaluating your market position.

We all have blind spots. A SWOT analysis should be conducted with the help of a larger group. This includes members of your company’s management as well as your sales team and management.

Which strengths will you be focusing on?

What flaws are you responsible for fixing?

What market opportunities do you have the best chance of capturing?

What are the threats you need to guard against in your selling environment

As you work through the study, you’ll notice patterns that indicate areas in your organization that require more attention or less for different reasons.

For example, a strength with great potential may need its domain. A sector that is a major threat to your company’s standing in the market may require extra attention.

The SWOT characteristics you discover are not usually linked to location or revenue.

These could also be related to more technical issues, such as the training requirements of your sales team, gaps in system and tool use, or product gaps.

This research will help you to be more aware of other perspectives regarding your business and the regions in which it is located.

5. Recognize and track sales territories

Based on what you have done in previous sections, you should be able to plan how to divide your territories. These should be documented, with details about each territory.

Geographical Limits

Boundaries by industry or segment (including overlap and how it is addressed)

Boundaries for Revenue

Limitations on Product

Is anything else relevant to your sales team

6. Plan of Action

A cooperative effort is required to develop an action plan like the SWOT analysis. It should involve several stakeholders from different companies, including the leaders in each of the identified areas.

7. Track performance at the territory level

After you have created and implemented your territory plan it is important to keep track of progress in each territory and make changes as necessary.

To avoid making it a costly and time-consuming burden, metrics reviews should be done consistently.

Your company’s particular circumstances will impact the steps you take, but these are some key points:

Gross Revenues

Gross sales are the best indicator of sales success. They represent the total sales made in a territory over a specific period. Gross sales are a useful indicator because it shows a salesperson’s ability close deals.

Profit before taxes

This is the difference between the product’s selling cost and the costs of developing the solution. This metric is recommended by businesses that want to encourage salespeople to concentrate on high-profit margins and not just sales.

Unit Sales Total

The total number of product units that are sold in a territory, regardless of profit or price, is the same regardless of profit or commission. This measurement is useful when a company specializes in a specific product.

Rate for conversion

Conversion rate is the percentage of leads that lead to a sale. High sales turnover rates are indicative of high-performance sales teams.

Total Commissions

This is the income that territory sales agents earn as a personal source of income.

This metric is not directly related to a company’s success or competitiveness, but it can be used by salespeople to motivate them to reach higher sales goals.

Customers who return

A sign of real development and sustainable growth is the tendency for purchasers to return to a sales area and buy again.