How do you balance your time and resources between existing and new customers?

1 Know your customers

The first step to balance your time and resources is to know your customers well. You need to segment your territory based on criteria such as revenue potential, customer lifetime value, loyalty, satisfaction, and needs. This will help you identify your key accounts, your growth accounts, and your maintenance accounts. You can then allocate your time and resources accordingly, focusing on the most valuable and profitable customers, while maintaining contact with the others.

2 Set clear objectives

The second step to balance your time and resources is to set clear objectives for each customer segment. You need to define what you want to achieve with each account, such as increasing sales, retention, referrals, or cross-selling. You also need to establish how you will measure your progress and success, such as sales quotas, customer satisfaction scores, or retention rates. Having clear objectives will help you prioritize your activities and allocate your resources effectively.

3 Plan your schedule

The third step to balance your time and resources is to plan your schedule ahead of time. You need to create a realistic and flexible calendar that reflects your objectives, your customer segments, and your territory. You need to consider factors such as travel time, customer availability, peak seasons, and special events. You also need to balance your face-to-face visits, phone calls, emails, and social media interactions. Planning your schedule will help you optimize your time and avoid wasting resources.

4 Use technology

The fourth step to balance your time and resources is to use technology to your advantage. You need to leverage tools and software that can help you automate, streamline, and enhance your territory management tasks. For example, you can use a CRM system to store and update customer information, track and manage leads , and generate reports and insights. You can also use a mapping tool to plan your routes and optimize your travel costs. Using technology will help you save time and resources and improve your productivity and performance.

5 Communicate effectively

The fifth step to balance your time and resources is to communicate effectively with your customers. You need to tailor your communication style and frequency to each customer segment and preference. You need to provide value and relevance in every interaction, whether it is a sales pitch, a follow-up, or a thank-you note. You also need to listen to your customers' feedback, concerns, and needs, and address them promptly and professionally. Communicating effectively will help you build trust and rapport with your customers and increase your sales opportunities.

6 Review and adjust

The sixth step to balance your time and resources is to review and adjust your territory management strategy regularly. You need to monitor and evaluate your results and performance against your objectives and expectations. You need to identify what is working well and what needs improvement. You also need to adapt to changing market conditions, customer behaviors, and competitive threats. Reviewing and adjusting your strategy will help you optimize your time and resources and achieve your sales goals.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?