Territory Management

Base EastWest

South

North

Highest Value

Geography + Account Valuation = Great Territory Management!

Sales Certification ProgramAugust 2005

Course Overview

This course will provide you with the knowledge and skills to efficiently and

effectively establish, service and manage a geographic sales territory.

Territory Management

Course Objectives

EXPLAIN: How to Find Leads and Pre-qualify Prospects

EXPLAIN: The Three Phase Approach to Territory Management

EXECUTE: A Base + NEWS Prospecting Plan

DEVELOP: A Base + NEWS Territory Management Plan

EXPLAIN: The concept of Account Valuation

EXPLAIN: The concept of Account Deployment

DISCUSS: How you will eventually develop a Geographic + Value-

based Territory Management Plan

At the end of this training session, you will be able to:

TERRITORY: The geographic area in which you sell.

ACCOUNT: A business customer.

LEAD: A business within the territory, that may or may not be a qualified

prospect.

PROSPECT: A potential customer account or person with whom you are not doing

business today, but might.

BROKER: A business owner or manager. Typically the decision-maker.

CONTACT: A person within an account.

Some Basic Terminology:

Territory Management

Territory Management

Territory Management is one of

the eight major APPLes.

Territory Management is a

systematic, logical process that

allows a sales rep to achieve

optimal results from the potential

customers in a given geographic

area.

It’s An APPLe

Applied Productivity and

Performance Levers, or

APPLes,” are the competencies

and skills required for success as

a Sales Rep.

Technology

Territory Management

Identifying leads and qualifying prospects

Allocating appropriate time and resources for

prospecting, servicing, and developing

accounts

Mapping routes efficiently

Prioritizing prospects and accounts to ensure

that the energy, budget and time spent on

them is in direct proportion to their value to the

company, and to maximize the revenue and

profit potential of the territory

It is Accomplished By:

Primary Objective

Territory Management

It ensures the proper and efficient geographic

coverage of the territory

It is a vehicle for balancing work load

It is a means of containing costs, such as

travel expenses

It ensures proper market penetration and

account development

Maximizing your territory translates into more

loans, and higher commissions

It is Important Because:

Territory Management

Factors to Consider:

Lead sources

Target account profile

Number and potential value of prospects

Number and value of accounts

Size and shape of the territory, including distance between key points

The layout of roadway systems, which determines the time between key points

Duration and frequency of presentations or visits

Three-Phase Process

PHASE I:

Prospecting Plan to Establish Accounts

PHASE III

Advanced Territory Management (Account Deployment)

Territory Management

PHASE II

Basic Territory Management Plan to Solidify Core

Account Base

0 to 90 Days

120-150 Days +

90 to 120-150 Days

See 8-12 prospects per day - run sales meetings and presentations.

Do Account Selection… retire prospects and acquire accounts, as

appropriate.

Balance your efforts over time based on overall account potential

compared to revenue realization.

Territory ManagementPhase I – Prospecting Plan

Base EastWest

South

North Find leads (from Marketing, personal experience, observation,

state banking commission, associations, Yellow Pages, other

advertising and/or networking.)

Map leads using Base + NEWS method (geographic prospecting

plan - divide territory into 5 parts, with the center being your home

base and the others being North, East, West, South).

Qualify prospects when possible (phone and other research).

Set appointments when possible.

Visit prospects on appointments when possible or cold call as needed.

Rotate the areas/accounts you visit based on day.

Prospecting Plan (Geographic)

Start at the farthest-most office and work your way back home.

Search online sources such as www.411.comand www.smartpages.com

You may receive some leads from Marketing. To do that…

Contact your Territory VP and follow their instructions.

Finding Leads

Review other advertisement sources

Join and get member lists from associations

Network within your market and community

Ask for referrals from prospects and accounts

Territory Management

You must also:

Research state banking commission Websites

Search the Yellow Pages

Know that…

They may automatically send a list of prospects within your territory for you to review…

You may need to request it.

There may not be many or any good leads in our database

These leads are customers that have worked with us at some point, or that we know about. That’s why…

Call leads by telephone to confirm they’re in business, meet our pre-qualifcations,

and are not already working with us. (Set an appointment if possible.)

Cold-call those prospects who won’t talk on the phone, when you are in their

geographic area. (Get and give business cards; set an appointment).

Talk to others inside the prospective account… receptionists or others.

Ask questions of referral sources and our employees; gather information from all

viable sources. Be creative.

Look for large Yellow Page or other ads.

If it’s a known account that has deactivated, research past production.

Pre-Qualifying Prospects

Territory Management

Go the appointments

Cold call as required

Use your Partnership Selling and Account Selection skills

Work hard to establish accounts and get ready for Phase II of Territory

Management

Hit the Road

Territory Management

Now it’s time to put your Prospecting Plan into action:

Base EastWest

South

North Continue the Base + NEWS system.

Visit 5 accounts per day and see 1-3 prospects per day (if

prospects are limited, see more accounts). See at least 2 in the

morning and 3 in the afternoon. (Same accounts, same days, same

locations, and same times – throughout the month.)

Spend one hour at a office for every sales you made there last month,

or expect to get this month.

Contact the right people for the right action. Use your inside staff and

Solutions Desk to get product/underwriting/policy questions

answered. Use your TVP to get obstacles removed, or for help with

special customers in the field.

Continue to work with accounts geographically to further profile,

confirm your Account Selection decision, and develop production

potential.

Basic Territory Mgt. (Geographic)

Territory ManagementPhase II – Basic Territory Management

Base EastWest

South

North

Evaluate and rank accounts based on Past and Current production,

and Future production potential (PCF).

Rework Territory Plan to spend the most time (more than one visit per

week) with top-ranked accounts with the most value, and see

remaining accounts once per week (or less) geographically (or by

phone). Effort spent on accounts should be in direct proportion to their

value.

Visit 6 accounts per day and see 1-2 prospects per day, as availability

allows (if prospects are limited, see more accounts).

Spend one hour at a office for every sales made last month, or

expected this month.

Contact the right people for the right action. Use your inside staff and

Solutions Desk to get product/underwriting/policy questions answered.

Use your TVP to get obstacles removed, or for help with special

customers in the field.

Account Deployment Preview

Highest Value

Territory ManagementPhase III – Advanced Territory Management

Highest Value

Account Valuation Preview

Territory ManagementPhase III – Advanced Territory Management

Territory Management is a systematic, logical process that allows you to achieve optimal results from the potential customers in a given geographic area.

The primary objective of Territory Management is to maximize the revenue and profit potential of your territory.

You do that by prioritizing prospects and accounts to ensure that the energy, budget, and time spent on them is in direct proportion to their value.

Leads may come from internal sources and your own research.

Initially, calling prospects ensures they’re still in business and can save you time. When you have an account base that you visit weekly, you can see other prospects when you are in the area.

For a new sales rep, Territory Management is a three-phase process.

Course Review

Territory Management

PHASE II – Basic Territory

Management Plan to Solidify

Core Account Base

Continue to work with

accounts geographically to

further profile, confirm

selection decision, and

develop production.

Visit 5 accounts per day, and

see 1-3 prospects per day (if

prospects are limited, see

more accounts).

PHASE III – Advanced Territory

Management (Account

Deployment)

Evaluate and rank account

production and potential.

Rework Territory Plan to

spend the most time (more

than one visit per week) with

accounts with the most

value, and see remaining

accounts geographically.

Visit 6 accounts per day, and

see 1-2 prospects per day (if

prospects are limited, see

more accounts).

Territory Management

Course Review

PHASE I: Prospecting Plan to

Establish Accounts

Find leads.

Map leads using Base +

NEWS method (geographic

prospecting plan).

Qualify prospects, when possible.

Set appointments, when possible.

Visit prospects on appointments

or cold call leads.

See 8-12 prospects per day – run

Broker Meetings and LO

Presentations.

Select, retire and acquire

accounts, as appropriate.

This concludes our course on Territory Management

Thanks for your attention and efforts

Best of success on the Course Assessment!

Territory Management

Course Review