Territory Mapping Software That Boosts Sales
Modern business contexts today put prime importance in driving overall profit growth. Before territory mapping software even became an integral tool in increasing revenues, most companies used documents, spreadsheets and other crude methodologies to track areas where most of the transactions come from and manually assign them to sales representatives to monitor. With newer digital software available in the market, meeting income targets has never been easier and more productive.
What Territory Mapping Is and Why It’s Important to Drive Sales
By mapping a company’s sales territory, the sales department is able to allocate areas to specific sales agents across a team and meet sales targets more quickly. Not only does this make a more organized approach to financial success, but it also optimizes the selected areas for conversions (or the step at which a customer moves from knowing a product or service to purchasing the goods and service) and avoids overlap of territorial responsibilities. Below are some of the benefits of utilizing a sales territory map in driving sales.
It Boosts Sales and Assists in Measuring Performance
Each sales agent is capable of meeting 100% of the assigned target area given the right level of accountability and flexibility around the workload. This also encourages the representative to be productive at one’s own pace and terms. Individual performance also becomes measurable as information from each key performance index (or KPI) is collected from each agent’s work input.
It Delegates Work and Responsibility for Improvement
The key driving force here is “divide and conquer”. By allocating specific work areas to focus on, the representatives are more optimized as if working as a whole unit. Apart from this, the agents are placed accountable for their assigned location so that whatever areas for improvement become visible they will tend to take responsibility for finding solutions to the issues.
It is Time-Efficient and Encourages Teamwork
Everyone works on their own territory and the time it takes for the team to cover all their sales ground is cut in half. The mindset of working concurrently on an area that is part of the whole location assigned to the team also drives collaboration in the workplace. Even though everyone is working independently, no one is actually working exclusively from the team.
Factors Affecting Sales Territory Mapping
When deciding to use a sales territory map, business must consider 3 key factors to ensure effectiveness. First, stakeholders and managers should think strategically how employing territory mapping could boost revenues and move the business forward. Some things to consider are the company’s goals, KPIs, the types of metrics or parameters used to measure success or growth (such as number of customers, conversion rates, repeat sales, net profits, to name a few), and consumer demographics (like age, socio-economic status, gender, etc).