Over the years, the partner/manager role seems to be morphing. Are you noticing this shift in your network? Here’s a snapshot of what’s happening.
Territory Planning and Prioritizing Co-Selling Partners
Looking for a killer sales territory plan? Here’s the fast and smart way to prioritise your co-selling partners and get it.
When it comes to Territory Planning, some sales managers roll their eyes and groan, “Not that again!” But other salespeople are keen to get the data, do the analysis, and reap the rewards.
Let’s take the case of 2 salespeople.
Dan* hates territory planning. He thinks it is a waste of time, too much 'noodling' around with the data and a hindrance to his team of solo heroes. He believes he is a ‘cowboy at heart.’
Paul* loves territory planning. He loves seeing a fast path to help his sales reps save time, save effort and prioritize Co-Selling Partners. He says, “I’m a people-person data guy.’
Flash forward. Who do you think is making more money, having a happier sales team, and enjoying all the rewards of collaborative selling?
Not much of a challenge, really.
It’s Paul—of course.
Let’s see what Paul does. With his eye for detail, he does territory planning in 5 easy steps. His blueprint for success makes sense and is easy to follow.
01. Identify What’s Current
Until you see the current landscape, you won’t know what to do next. This is where you identify your current reality. Analyze your business. Look at your key accounts, existing opportunities, and recently closed customers.
This doesn’t have to be rocket science. Think of your current group in terms of first, middle, and last.
The first group is the best. These prospects are the perfect archetype. They fit your target profile based on industry, company size, and have the highest likelihood of purchasing your product.
The middle group is similar—but requires a bit more work. Maybe they are slower to purchase and requires more hurdles to jump through to get the deal done.
The last group is less active. They may just be less familiar with the value of your service. Or they could be reluctant, antagonistic, or competitive with your success.
Give it a shot. Most likely, you’ll find that sorting out the present isn’t so rough.
02. Do a SPOT Analysis
No doubt, you know about SWOT analysis. A SPOT matrix is quite similar. You’ll look at strengths, problems, opportunities, and threats. In this model, ‘problems’ replaces ‘weaknesses.’
Paul finds this change of categories is better suited for sales. It makes it simpler to evaluate day-to-day situations.
Use this strategic method to drill deeper into your list from above.
The SPOT helps you sort out the ideal match for Co-Selling Partners. Here are a few ideas to get you started.
A keen sense of your strengths helps you decide which sales reps are best suited for each position. Look for strengths such as:
- Collaborative mindset
- Diversification in customers
- Excellent interpersonal communication
How can you respond proactively and quickly to problems? Look for data pointing to:
- Mismatch of product/solution and needs
- Immediate and urgent time pressures
- Lack of understanding amongst sales team/co-selling partners
Stay poised to meet opportunities.
Be on the lookout for:
- New technology needs
- Emerging markets
- Under-served territories
Stay ahead of potential threats by noticing them fast.
Is this person or organization a competitor in:
- Market share
- Geographic region
- Ideal customer profile
03. Set Goals and Targets
With the data from your first analysis and the insights from your SPOT evaluation, you’re ready to look for patterns.
These patterns help you make smart decisions in territory planning. Here are 3 key areas to drive your decision-making.
Look at what might have gotten lost, abandoned, or overlooked in past sales efforts. Look for opportunities to expand wins, cross-sell to existing customers, or leverage an active relationship.
Get your sales team involved in this process. They are doing the fieldwork, and have deep insights that might get lost in a data report.
What are your most profitable areas for products, services, and solutions? It’s easier to get buy-in when there is a bigger reward.
Identify Lead Sources
Where do your most profitable leads come from? By identifying sources, you can decide where to concentrate the most efforts.
04. Organize Co-Selling Strategies
Prioritizing Co-Selling starts with smart strategies. What are the big moves to make your team successful in collaborative selling?
Some of your best ideas will come from getting together with your high achievers to design your collaborative strategies.
Questions you’ll brainstorm may include:
- How can we enhance incentives to reward Co-Selling?
- How can we help our sales reps with tools, graphics, and software?
- How can we help our Co-Selling Partners with tools, graphics, software, and support?
- How can we popularize best practices?
- How can we leverage wins with Co-Selling Partners?
- How can we connect sales reps with high achievers?
- How will we continuously improve our strategies?
As you organize for success, be sure to add your own unique questions.
05. Review and Reenergize
Territory planning and prioritizing Co-Selling partners is something you’ll do once—and keep doing. Planning is essential. Reviewing, reenergizing is equally critical.
This is where loving data will help you succeed. Paul is ahead of the curve because he loves to review data and reenergize his team. He wants to see what’s working, tweak approaches, do more of what works, and do less of what doesn’t lead to results.
If you’re looking for a way to make smart decisions, start doing territory planning and prioritizing Co-Selling Partners.
Once you get started, you’ll never look back.
With territory planning and prioritizing Co-Selling partners, you can shape a new market, boost team performance, and realize significant revenue potential. Territory planning helps you identify, focus, and prioritize your Co-Selling partners.
Partnership Co-Selling is what makes it easy to create value for customers with collaborative partnerships.
Using a platform like CoSell.io is the simplest way to get your sales team on board. CoSell is a robust platform that makes it easy and fast to automate and scale collaborative co-selling across sales teams.
If you’d like to explore how partnership co-selling can help you and your team boost sales and win major clients fast - check out our selection of free eBooks.