territory management: kickstart your year
DESCRIPTION
Imagine starting on a journey through an unknown forest without the advantage of having a map, yet being responsible for navigating the forest to the other side as quickly and effectively as possible. Now apply that process to cultivating and managing your sales territory. During this one-hour complimentary webinar, Julie Thomas, President and CEO of ValueSelling Associates, will address the challenges of territory management, tips, techniques and processes on how to identify developing new prospects, prioritizing your time and gaining access to prospects to increase your territory results.TRANSCRIPT
© 2014 ValueSelling Associates, Inc. All rights reserved.
This document contains proprietary information of ValueSelling Associates. Its receipt or possession does not convey
any rights to reproduce or disclose its contents or to manufacture, use, or sell anything it may describe. Reproduction, disclosure, or
use without specific written authorization of ValueSelling Associates is strictly forbidden.
Territory Management:
Kick-start your year
Julie Thomas
President and CEO
ValueSelling Associates, Inc.
January 9, 2014
© 2014 ValueSelling Associates, Inc. All rights reserved.
This document contains proprietary information of
ValueSelling Associates. Its receipt or possession
does not convey any rights to reproduce or disclose its
contents or to manufacture, use, or sell anything it may
describe. Reproduction, disclosure, or use without
specific written authorization of ValueSelling
Associates is strictly forbidden.
© 2014 ValueSelling Associates, Inc. All rights reserved.
Doing
Invest
It
© 2014 ValueSelling Associates, Inc. All rights reserved.
Invest in doing it right.
© 2014 ValueSelling Associates, Inc. All rights reserved.
Territory Management
Territory Management
Preparing
Prospecting
Researching
Qualifying
Discovery
Proposing/Presenting
© 2014 ValueSelling Associates, Inc. All rights reserved.
What we’ll learn today
Review the basics of Territory
Management
to start the quarter off on the right foot
How to work smarter, not harder
Preparing: Planning and prioritizing your
time
Prospecting: Getting in the door
© 2014 ValueSelling Associates, Inc. All rights reserved.
Geographical
Named or
Key Accounts
Global Accounts
Channel Partners
What type of territory do you have?
© 2014 ValueSelling Associates, Inc. All rights reserved.
Preparing
Goal-setting
• What are you trying to
accomplish?
• Break down to consumable
and manageable units
Your ideal customer and prospect:
• Size: A, B, C
• Economic Health
• Past Performance
• Competitive Installations
• Geography
• Business Issue/Problem Profile
© 2014 ValueSelling Associates, Inc. All rights reserved.
Goal Setting
9
Quota
Average Transaction
Size
Total Number of
Transactions Required
Average Win Ratio
Total Number of
Qualified Prospects
Required
Pipeline Ratio
Total Prospecting
Year- Month- Week
© 2014 ValueSelling Associates, Inc. All rights reserved.
Goal Setting
10
Quota $2,000,000
Average Transaction
Size
$125,000
Total Number of
Transactions Required
$2m/$125K = 16
Average Win Ratio 1 out of 3
Total Number of
Qualified Prospects
Required
3 x 16 = 48
Pipeline Ratio 1 out of 7
Total Prospecting
Year- Month- Week
7 x 48 = 336/yr
28/month, 7/week, 2/day
© 2014 ValueSelling Associates, Inc. All rights reserved.
The Funnel concept
The Universe
Suspects
Prospects
Customers
Suspects
Prospects
Customers
© 2014 ValueSelling Associates, Inc. All rights reserved.
13
Your universe
The installed base:
Are they happy?
Can we grow them?
What new opportunities
can be created?
Prospects
Target markets
Industry
Situations
Qualities
Circumstance
Size
© 2014 ValueSelling Associates, Inc. All rights reserved.
What causes
people to
line up?
Buying frenzy
Develop
profiles?
Leverage the
success of one
sale to motivate
others?
© 2014 ValueSelling Associates, Inc. All rights reserved.
Buying frenzy
Identify and profile prospects with similar “situations”
– Business Issues
– Problems
Use reference stories that match the profile
Leverage the success of one sale to motivate others
and gain attention
© 2014 ValueSelling Associates, Inc. All rights reserved.
Build the list
Leverage knowledge of partners, where possible
Where do you find the information?
– Local media
– Industry associations
– Internal data
– External data
– Social networking
– Referrals
© 2014 ValueSelling Associates, Inc. All rights reserved.
Prioritize
Competition Past
Performance
Health Geography Size Account
© 2014 ValueSelling Associates, Inc. All rights reserved.
© 2014 ValueSelling Associates, Inc. All rights reserved.
The campaign
It is about
THEM, not YOU
Real issues,
real value
Overwhelm the
prospect with:
Anxiety
Influence
Motivation
© 2014 ValueSelling Associates, Inc. All rights reserved.
Warming up the cold call
Previous
customers and
internal data
Introductions
from your
network to theirs
Introductions are
better than names:
Make it personal
© 2014 ValueSelling Associates, Inc. All rights reserved.
Summary
Set goals based upon territory and
personal goals
Align your time to meet your goals
Create ideal customer profiles and
prioritize
Launch campaigns to gain access
Adjust and revise activities and goals
based on current success and reality
© 2014 ValueSelling Associates, Inc. All rights reserved.
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At the end of today’s webinar…
Download a copy of today’s presentation from our
website www.valueselling.com
Go to Resources > Webinars
© 2014 ValueSelling Associates, Inc. All rights reserved.
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Next Webinar
Why should anyone listen to you?
February 6, 2014
9:00 AM PST
Doug Von Koenig
ValueSelling Associate
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The proven formula for accelerating
sales results.
Thank you
Julie Thomas
+1 858 759 7954