When it comes to running a successful business, having a solid sales plan is essential. A sales plan outlines specific strategies, objectives, and goals that can be used to increase profits and maximize sales potential. A well-crafted sales plan provides an organized roadmap for the sales team and sales activities to reach those goals. A territory sales plan template can be a great starting point when it comes to planning sales activities, as it provides an easy-to-follow outline that outlines the essential components of a successful sales plan. This blog post will provide an overview of the components of a sales plan template for territory sales and provide guidance on how to customize the template to best meet your business needs.
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What is a territory sales plan template?
An outline document known as a territory sales plan template aids sales managers and teams in locating, allocating, and tracking crucial details related to the territory sales plan. Each one can include a variety of sections and details to best convey your particular plan.
What is a territory sales plan?
A territory sales plan is a sales strategy that enables you to implement objectives relating to income and steady sales growth over time. It does this by helping you target the right customers for your product. Sales teams used to focus their territories primarily on geography, but today’s territories can also include industries, customer types, and other factors.
Why use a territory sales plan template?
For the following reasons, using a template for a territory sales plan may be advantageous:
Targeting specific areas
You can better segment your target market to meet their needs by using a territory sales plan template, or you can approach leads who are more likely to become customers. Instead of just looking for potential customers in a certain area and hoping they fit your target demographic, this is a more strategic approach to territory sales planning.
Personalizing connections
You can match your salespeople with areas that take advantage of their particular strengths and experiences by creating a template for a territory sales plan. You could choose to assign representatives based on their propensity to sell to a particular market segment or their prior work history in a particular industry. Additionally, it enables you to place your personnel where they will most effectively increase sales and improve customer service.
Tracking goals
You can set and monitor your sales goals in a concrete way by creating a territory sales plan document. You’ll be able to pinpoint exactly how things work so you can repeat the same procedures later, or you’ll be able to identify process improvement opportunities and implement changes right away.
Creating more selling time
Your team can devote more time to actually contacting leads and closing sales when you have a clear territory sales plan template to follow. This allows them to focus more attention on the most qualified potential customers, which may result in more conversions and income.
How to create a territory sales plan template
Follow these instructions to learn how to make a template for a territory sales plan:
1. Set overall goals
Set more comprehensive objectives for your entire year or quarter before drafting your plan. You’ll set plan-specific goals later on in the process, but having initial benchmarks and aspirations can help you understand how this particular plan fits into your overall yearly strategy.
2. Define your variables
Segment your clientele based on things like past purchases, industry, location, or other elements that have an impact on your sales. Some customers may fit into multiple categories. One client might meet both criteria, for instance, if you use categories like the manufacturing industry and a particular city. Within each segment, split customers into three groups:
3. Collect your data
Analyze the markets of your target groups. Analyze existing data to determine which regions are expanding. Examine recent sales information from the prior year to comprehend the purchasing habits of your target market. You could carry out more research to discover the motivations behind and timing of customers’ purchases, the conversion rates of competing businesses, and what makes a sale. This study can give your salespeople more assurance when closing deals.
4. Conduct a SWOT analysis
SWOT stands for strengths, weaknesses, opportunities and threats. The internal and external factors that affect your territory sales plan can be identified by conducting this type of analysis on your own business and sales team. Consider things like:
5. Set plan goals
Set attainable objectives for the entire sales team or for specific representatives. Consider using the SMART method of goal-setting, which stands for:
Consider the most significant factors that affect your sales when establishing goals for the particular plan, as well as what your sales team can do to achieve success in those areas, such as:
6. Create a strategy
You can develop a strategy using the data you’ve gathered that allocates particular regions and markets to your representatives for a fair distribution of work. When deciding on territories, take into account the unique skills and talents of each team member. Resources, deadlines, and milestones are additional aspects that influence your decision-making process. You can use particular standards to direct your creative endeavors, such as:
7. Prepare your document
Make a report that summarizes the data you gathered and the intended approach for your territory sales plan. This document may be created using a spreadsheet, presentation, visual chart, or a standard word processing page. The elements you include will depend on the option you select, but the majority have sections like:
8. Share your plan
Inform the sales team of your plan and their respective responsibilities. This can be presented or done in a meeting where hard copies of the plan document are distributed.
9. Track your results
Measure your progress to see how the plan affects sales. The territory sales plan template is a guide to help you achieve your goals, but you can make small changes as necessary as you learn more about a market or a particular clientele.
Example of a territory sales plan template
Use the following template as an example to create your own territory sales plan:
Retro Remix DJ Equipment
Fiscal year: 2021
Turntable territory sales plan
Jameson Martin
Sales manager
1745 Airport Parkway
Los Angeles, CA 57543
555-0912-6352
[email protected]
Plan timeline: Third quarter (June to September 2021)
Summary
This strategy was developed to focus on the regions where we sell Retro Remix DJ turntables. To take advantage of the wedding season, when many independent DJs work the most throughout the year, we have chosen to implement this strategy in the third quarter of the fiscal year. We project to make $1. 2 million in revenue on a budget of $487,000.
Steps to create this plan
In order to execute this plan, weve outlined these steps:
Territory goals
By targeting regions with the greatest concentration of wedding reception venues, bridal shows, and other wedding-related events, we have decided to create territories based on geography. Additionally, we prioritized locations near big high schools where DJs could be hired for proms and other dances. These territories include:
Vehicles and technology
We anticipate sales representatives to contact clients via office phones and computers to generate sales leads. We anticipate sales representatives to drive their own vehicles when making in-person visits. Mileage reimbursement is available. Please get in touch with the IT department if your presentations require any additional technology.
Responsibilities of sales representatives
Weve assigned the following sales representatives to each territory:
Timeline
Please review the monthly timeline for this territory sales plan:
Key milestones
Please report the following milestones to your sales leads:
Expected outcome
We anticipate earning $1 during the course of this territory sales plan. 2 million in sales were made over at least 30 leads that were generated, or roughly four leads per sales representative.
SWOT Analysis Results
The results of our SWOT analysis showed:
Budget and income projections
To reach our revenue target by the end of this territory sales plan cycle, we anticipate that each territory will generate about $172,000 in revenue. Our budget projections include:
FAQ
How do I write a territory sales plan?
- Define your larger sales goals. You must have a goal (or goals) before you can have a plan.
- Define your market. …
- Assess prospect and account quality. …
- Start mapping out the strengths and weaknesses of your reps.
- Assign leads. …
- Look for ways to improve your plan.
How do you create a 30-60-90 day territory?
- Define the market/environment of the new territory.
- Learn about the competition.
- Study and understand the demographics.
- Perform a SWOT analysis (strengths, weaknesses, opportunities, threats)
- Build the ideal customer profile.
- Identify the most profitable accounts in the region.
How do you effectively manage and grow a sales territory?
A territory plan is a strategy that details how you’ll make the area profitable for your company. Creating a thorough sales territory plan will guide your company toward success. A sales manager frequently discovers how unevenly distributed the company’s sales territories are.
