Use the PayScale Research Center to find the median outside sales representative salary. Maintaining contact with current customers and attracting new ones, professional sales reps make presentations to buyers and management or may demonstrate items to production supervisors.
And as most experienced sales representatives have found, the best approach to successful sales is territory planning. Territory planning is simply the process of creating a workable plan for targeting the right customers, establishing goals for income and ensuring sales growth over time.
Conduct an overall review. The first step in the sales territory plan is that of reviewing. In other words, before even making the plan, the sales representative needs to analyze his territory and review the current situation before projecting future goals.
An overall review should include an evaluation of business from the previous year, an analysis of customers who are currently the strongest and which the weakest, a consideration of the best-selling products, a review of successful sales techniques and a list of top prospects for future clients.
Identify customers to target. Any sales representative who is even marginally familiar with her territory knows where to begin looking for new customers. In considering customers to target, the representative should also make a list of specific methods for approaching each customer.
Making notes of each of these items will be of use for the sales representative. Create growth goals and strategies. Preparing growth goals and strategies is a big-picture effort.
To accomplish these goals, the representative should prepare manageable strategies. Income objectives are essential, but they do not usually come solely from the sales representative.
Most companies provide the representative with sales targets for a specified period of time--quarterly, twice a year, yearly.
At the same time, the sales representative can still create his own strategies for achieving these objectives. If the representative has annual sales targets, he can plan for so much each quarter; in the case of quarterly targets, he can plan monthly targets. Setting these smaller income objectives will enable the representative to keep a closer eye on meeting the larger objectives.
Conduct an ongoing review. A strong sales territory plan undergoes frequent review. The representative should not create the plan and then forget about it. She should refer back to it weekly, monthly or quarterly to make sure the plan is on target. It is easy to forget goals unless they are close at hand, so the sales plan should be a constant reminder of territory objectives.Advice for small businesses on how to create the best compensation plan for your sales team, by determining sales goals, performance measures, payout formulas, and the sales cycle of your business.
Advice for small businesses on how to create the best compensation plan for your sales team, by determining sales goals, performance measures, payout formulas, and the sales cycle of your business.
NOTE: We recommend refraining from calling any sales incentives a bonus. A bonus is non-guaranteed and usually on-the-spot. An incentive plan is forward-looking with payment tied to the achievement of specific objectives that have been pre-determined and communicated to the employees that are on the incentive plan.
A sales pipeline plays an important role in any successful business.
According to research by Vantage Point, 72% of sales managers hold sales pipeline review meetings with their sales reps several times per month.
However, 63% of respondents say that their companies do a bad job of managing. “Lest anyone think we don’t understand how the Legislature works, that no one can go to Harrisburg and immediately start making a difference, we offer exhibit A: State Rep. Seth Grove, R-Dover Township, elected in and one of the hardest-working legislators around.”.
1. Conduct an overall review. The first step in the sales territory plan is that of reviewing. In other words, before even making the plan, the sales representative needs to .