Power Community

Power Community

Creating Sales Territories to Fuel Business Growth

image

‘It is the last week of November. We did not reach our sales targets this month as well. Is it a jinx? I cannot let my small business shut shop this easily’, Shelly thought to herself while scrolling on her phone. Her 6-year-old business of handmade jewelry had been doing well so far but 2023 had not been that kind. She had opened up multiple shops in different regions of the city but her sales were uneven. The results felt as if certain areas were neglected by the sales reps in charge.

Suddenly she remembered, she had to read a blog shared by her friend Lisa. Lisa was a sales rep in a beverage company and her work life had changed with the advent of Maplytics within her Dynamics 365 CRM. Although Shelly used CRM, she felt she never utilized it completely or explored it well. Apparently, Maplytics was a geo-analytical addon and a perfect sidekick that helped enhance the application of CRM in businesses. Desperate times, desperate measures! Shelly drifted to her chat with Lisa and started scrolling for the blog which at that moment looked like an elixir.

The blog was a step-by-step guide to creating sales territories that derive excellent sales results. The four major stages that formed the backbone of sales according to it, were

  1. Defining the target market
  2. Segmenting that market into balanced territories
  3. Assigning territories to sales reps
  4. Tracking and monitoring territory performance

Let us see what it said….

Defining the Target Market

Any business, big or small, across industries, is meant for a specific customer base. That customer who is most likely to buy from your business forms your target group. The area where this target group resides, lingers around, or spends becomes the target market. Defining a place where your product/ service could be sold well among the targeted people is prime. A Census data review can be resorted to, to have an overall observation.

Maplytics allows Census Data to be mapped with the CRM Records plotted on the map. Thus, the demographics can highlight the presence of Target groups and potential Target Markets. The records can also be categorized based on annual income, age, spending habits, etc. Well-thought decisions can be taken in terms of marketing, strategizing, ideation, funding, etc. with these classifications in hand.

With Maplytics, live feature layers of ArcGIS can be overlayed on the map to view the behavioral patterns and demographical concentrations in various areas. This could also help with decision making.

Segmenting that market into balanced territories

Once a target market is defined, it needs to be analyzed for its diversity and expanse. Sometimes the area is too big and at times the density of records in an area is a lot. To ensure effective sales, dividing the markets into balanced territories is advisable. These territories can be created based on postal codes, cities, countries, states, shape and excel files, or even by drawing physical shapes on a map when done with Maplytics.

This post was originally published on this site

- Advertisement -spot_img

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement - Advertisement

Latest News

5 Benefits of In-App Notifications for Microsoft Dynamics 365 CRM users

For a successful sales process, you need to stay up-to-date with crucial sales information like deal closures, opportunities won,...

More Articles Like This

- Advertisement -spot_img