The short answer: Yes.
But first, let me explain what it is. One of the biggest challenges you face is having too little time for too many clients – both serving your current customers and pursuing new opportunities. In this situation you have two choices:
- You can be “reactive” – which means you’ll respond as the circumstances dictate and hope that by the end of the year enough “circumstances” have occurred that allows you to make your quota/goal for the year (I recall there’s a book called, “Hope is not a Strategy” on this topic)
- Or, you can determine at the beginning of 2010 (any year for that matter) where you will get the biggest return on your investment of time and energy and “proactively” develop a client specific plan that outlines which clients will deliver the growth you have targeted and how your time should be allocated accordingly.
It’s likely obvious which approach I advocate – the proactive approach! In essence, if you’ll take the time and effort to develop a plan or a road map for how you will:
- Maximize your business with your current accounts
- Focus your time on the right “new” accounts – and the likely solutions that would most benefit them
- And allocate your time on your calendar to achieve these results
Here’s the strategic questions you’ll answer: How can I best achieve my quota/target? Which clients/prospects deserve extraordinary focus, and why? What’s my strategy for each? This approach will give you the best opportunity to exceed your goals and maximize your earnings. In essence, the territory plan for any given year represents:
- Your road map to exceeding target/quota
- A “permission” system to make choices
- An opportunity for your clients/prospects to better understand your priorities
The absence of a territory management plan is purely reactive – and it doesn’t work well for most. Good luck and good selling in 2010!