Monday, 20 October 2008

Sales Account Map

The reason that many organizations have some of the issues above is that quota pressure pushes reps into focusing on “what can I close today or this month?” Rather than really analyzing, thinking through and building a set of defined objectives, strategies and action plans to map their way to more fully realized territory or major account.

What if you could see a visual of your territory that plotted all your existing accounts, your pipeline accounts, and those similar companies across your entire territory that you haven’t touched yet? Instead of working every lead that comes your way (even the ones that aren’t a fit), consider what it would be like to have the ability to make clear choices on where you’d spend your time, who you spent it on, with action plans to drive execution. In effect, using tools like territory and account planning and mapping plots the map to not only meeting your quota, but builds insurance so you can exceed it, AND prime the pump effectively for next year.

Territory or account planning provides a set of tools that will enable sales reps to effectively & efficiently penetrate their assigned territory or major accounts. It allows reps and sales managers to leverage resources to achieve the greatest gains from territories or major accounts. And it enables Sales Management to consistently evaluate the effectiveness of the territory or account strategies selected and executed. A territory or account plan and map drives success through 5 key elements:

1. Analyze The Territory Or Major Account
2. Make Informed Choices of the Best Targets/Strategies
3. Build Targeted Objectives & Actions
4. Work The Defined Plan
5. Manage To The Plan

Without a plan and a defined process and tools to create one, millions of dollars are left on the table by corporations and their sales people. Territory and account planning bring much needed strategy to “tactics-only” reps. Opportunistic selling can only take you so far. Creating and documenting a strategy with an action plan provides the means to ‘work the plan’ for deeper and more focused revenue generation.”

So if you want to cure “deal-blindness”, consider implementing a territory or major account planning and mapping process. Without a map, any road can get you somewhere. With one, you can get directly to where you want to be, and know what that destination is in advance.

By Lisa Dennis - About this Author
President, Knowledgence Associates
ldennis@Knowledgence.com

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