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Sales’ planning is critical to sales success. Return on Time Invested (ROTI) should be key criteria that every salesperson should use when evaluating their account base. The biggest asset a salesperson has is their time. It is imperative that they manage this asset carefully. Time management is called the queen of the management sciences and the reason why they call it the queen of management sciences is that time management – needs to be “romanced” –salespeople need to go through a fundamental time management course every 12- 24 months. Every time I do a time management workshop I get real organized. I focus and really look at my personal ROTI. Six months afterwards I seem to slip back into old habits.

 

 

Creating a 120 Day Territory Sales Plan is a great first step. (Territory can be defined by account assignment or geography). Start by having each sales person evaluate their territory with respect to economic conditions, competitive pressures, opportunities, threats and key company, customer and vendor objectives. What is really needed is to step back from the trees so you can see the forest. Some quality thinking should help create a baseline for establishing individual territory goals as well as planning out the major actions to achieve them.

 

This process should be repeated quarterly. Encourage your sales force  to be realistic and also stretch a little in setting  objectives. This means that intuitive “gut feel” says there is an 80% chance that they will achieve 100% of their goal. The company will need to make investments in resources and support so that a significant growth rate can be achieved. There will be some ramp up benefit during this planning window, so be open minded rather than optimistic or cynical.

 

 

One of the biggest mistakes often made by sales management is the attempt to manage results by being laser focused on all the reports and spreadsheets. Results are a result of actions. Once the results are in the actions are over; the horse is out of the barn. Nothing you can do at that point will impact the results you have already received.

 

The key to meeting objectives and goals is to figure out what specific activities are required to accomplish those goals and to act on them. This is called action planning. Goals and objectives without an action plan are simply wishful thinking. Managing those activities that produce results means that you must create an adaptive feedback loop that monitors progress, provides coaching, input and feedback to adjust the plan or stay on course.

 

Actual performance should be tracked against the goals to help develop planning and forecasting skills.

 

 

First, each sales person should list key territory objectives for the next 120 day period. This should include key account forecasts, total territory revenue forecasts, margin growth initiatives, specific product or vendor initiatives and new account development. Next, list the key action items that are required to achieve specific territory objectives. Each initiative must have a brief task description, a tangible output (i.e. meeting held, quote submitted, credit approved, management visit made, return authorized etc.), a person named who is responsible for the output and a due date. E-mail rick@ceostrategist.com if you would like a copy of an action planning form you can customize for your use. Each sales person should interview their top 10-20 customers and work out the best estimate of their predicted sales and gross profit volumes. 

 

 

A territory plan systematically provides focus on specific territory objectives and provides alignment with overall corporate objectives.

 

It helps determine the following territory characteristics:

 

·               Segmentation – forecasting potential by product; by service, by industry

·               Identifying potential within new and existing accounts. Checking marketing resources for new account development.

·               Listening to the customers. Finding the major pain that wakes them up at night which leads to total solution selling.

·               Promotes a team-selling concept with inside sales and management.

 

Effective territory management supports the creation of best practice habits. Habits that include:

 

 

 

Effective territory management includes a balance of time spent on:

 

 

 

Before we continue, we need to list exactly what an “A” player is. An “A” player must have the following characteristics:

 

1.          Appearance – personal, vehicle and sales material

2.          Pride – in yourself, your company and your profession

3.          Confidence – in yourself, your company and your   product/service

4.          Sincere and trustworthy

5.          Desire to achieve – wants to help others get what they want and, in turn, earn a higher income

6.          Excels in time and territory management

7.          Does not ignore prospecting

8.          Creates definitive, comprehensive, documented sales plans for all major accounts

9.          Never visits a customer without a call plan

10.      Seeks self development

11.      Enjoys selling

12.      Persistent

 

 

·        Eliminate small, highly unprofitable accounts

·        Reduce call frequency on your buddies

·        Reduce call frequency on accounts close to office

·        Create the  team concept

·        Don’t try to be all things to all customers

·        Create “To Do” lists

·        Plan each call

·        Create a master plan on all key accounts

·        Set measurable objectives

·        Create weekly itineraries

·        Complete weekly call plans

·        Schedule account and territory reviews

·        Be professional, thorough, and document everything. For New Customers include all pertinent information like Company Name etc. and then briefly describe the scope of the project and what the customer wants. 

Let’s face it; time is the major resource every sales person must manage. That means time is an investment in their personal success and the company’s success regarding growth. Managing territories effectively is a principle skill that must be learned to achieve a maximum development of sales growth and profitability.

 

Check out Rick’s new CD series and workbook “Unlocking the Secrets to Amazing Sales” @ http://www.ceostrategist.com/resources-store/unlocking-the-secrets-to-amazing-sales-incredible-profits.html It is a must addition for your sales training initiatives. Order today and get a bonus copy of Rick’s book “Turning Lone Wolves into Lead Wolves ----56 ideas to maximize sales.