How do you plan and execute your territory reviews and adjustments?

1 Identify your goals and metrics

Before you start reviewing and adjusting your territory, you need to have a clear idea of what you want to achieve and how you will measure your progress. Your goals and metrics should align with your company's strategy, your customer's needs, and your personal development. For example, you may want to increase your market share, improve your retention rate, or expand your product portfolio. Your metrics should be SMART: specific, measurable, achievable, relevant, and time-bound. For example, you may want to increase your market share by 10% in the next quarter, or improve your retention rate by 5% in the next six months.

2 Analyze your current situation

Once you have your goals and metrics, you need to assess your current situation and identify any gaps or opportunities. You can use various tools and methods to analyze your territory, such as SWOT analysis, customer segmentation, account scoring, or sales pipeline. You should also consider external factors, such as market trends, competitor activity, or regulatory changes. The purpose of this step is to understand your strengths and weaknesses, your customer's behavior and preferences, and your potential threats and opportunities.

3 Plan your actions and resources

Based on your analysis, you need to plan your actions and resources to achieve your goals and metrics. You should prioritize your accounts and prospects according to their value, potential, and risk. You should also allocate your time and budget accordingly, and decide on the best sales tactics and channels for each segment. You should also consider how to leverage your existing relationships, referrals, or partnerships to generate more leads and sales. Your plan should be realistic, flexible, and aligned with your company's policies and procedures.

4 Execute your plan and monitor your results

After you have your plan, you need to execute it and monitor your results. You should follow your schedule and communicate with your customers and prospects regularly. You should also track your activities and outcomes, and compare them with your goals and metrics. You should use a CRM system or a spreadsheet to record and report your data. You should also solicit feedback from your customers, colleagues, and managers, and learn from your successes and failures.

5 Review your plan and adjust your actions

Executing your plan is not the end of the process, but the beginning of a new cycle. You should review your plan and adjust your actions periodically, depending on your goals and metrics. You should evaluate what worked and what didn't, and identify any new gaps or opportunities. You should also consider any changes in your territory, such as customer churn, new entrants, or market shifts. You should then update your plan and resources accordingly, and repeat the process.

6 Benefit from your reviews and adjustments

By planning and executing your territory reviews and adjustments, you can benefit from several advantages. You can improve your sales performance and efficiency, by focusing on the most profitable and promising accounts and prospects. You can also enhance your customer satisfaction and loyalty, by meeting their needs and expectations. You can also develop your skills and knowledge, by learning from your experience and feedback. And you can also align your territory with your company's strategy and vision, by contributing to its growth and success.

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?