Approach Your Territory with a Growth Mindset with Jeff Bajorek, Ep #291
Jeff Bajorek believes that salespeople underrate territory sales planning because it\u2019s\xa0boring\u2014and they lack a growth mindset. But if you\u2019re a full-cycle sales rep, you need to know where your revenue is coming from. So you need a good grasp of your territory, the players in it, and who\u2019s moving in and out of it. You need a handle on price increases and must know your products inside and out. It\u2019s not all buying dinners and playing golf with prospects. Territory sales planning is where many people could make up ground if they\xa0do the work.\xa0
Outline of This Episode- [0:59] Why salespeople underrate territory sales planning
- [2:08] How territory sales planning can lessen reactivity
- [3:52] The ingredients for the ideal territory sales plan
- [7:34] The attributes that make a salesperson successful
- [9:25] Tools, tactics, or strategies to improve territory sales planning
- [11:12] Jeff\u2019s top \u201cdo\u201d: Embrace the buddy system
- [15:12] Jeff's simply and effective territory planning strategy
Do you want to be at the whim of your territory? Or do you want to have an impact and influence on what your territory produces (from a revenue perspective)? If you\u2019re waiting for a customer to wave their arms in the air, you\u2019ll be waiting a long time\u2014and doing activities that won\u2019t move the needle.\xa0Can your calendar be used against you in a court of law to convict you of being a salesperson?\xa0
Do you have time blocked to prospect? Do you have time blocked to contact your regular customers? Do you have time blocked to research and develop accounts in your territory? Or are you completely winging it? Are you taking control\u2014or waiting for things to happen? Jeff points out that you know what the right answer is but you\u2019re probably still not doing enough of it.\xa0
The ideal territory sales plan is focused on a growth mindsetWho are the players in your territory? Who is growable? There are a lot of companies talking about fresh opportunities but \u201cnew\u201d versus \u201cold\u201d is the wrong paradigm. Growable versus not growable is what you need to focus on and accessibility is the issue. Jeff breaks things down into quadrants: growability and accessibility.
- Quadrant one is those that are growable and accessible. These are new or existing accounts with room to pick up wallet share.
- Quadrant two is growable but not accessible. These are dream clients you have to work to gain access to.
- Quadrant three is not growable but accessible. These are the clients that shake your hand, slap you on the back, and say \u201cIt\u2019s good to see ya\u201d but there\u2019s no room to grow.
You feel productive when you gain the attention of quadrant three. If you can\u2019t grow them, they\u2019re the best source for referrals or introductions. Use them for market research to help you gain access to clients in quadrant two.
But people spend so much time in quadrant three. They could spend half the amount of time maintaining business and spend it gaining access to new accounts. Where are you spending your time? Spend it all in quadrant one if you can. Once you fill that demand, you\u2019ll have a void. You need to make inaccessible opportunities in quadrant two more accessible. Then, use your best customers to understand what it takes to gain access\u2014whether introductions or referrals.\xa0Now\xa0you\u2019re selling.\xa0
Tools, tactics, or strategies to improve territory sales planningEvery year, you start from square one. Your company likely asks for 7%. Every January, Jeff went to a national sales meeting. They\u2019d get information about fee increases, new products, line extensions, etc. Jeff had his notebook open and a pen in his hand. He took diligent notes and knew exactly who he\u2019d call on with new products. By the time he left that weekend, he\u2019d have his territory sales plan sketched out. He knew who to call, who would be a great target, who would buy, who was already using similar products and how much they were using, and the value of each customer. He left those meetings fired up and set appointments for the next week.\xa0
Jeff points out that pen and paper is an under-utilized tool. You don\u2019t need fancy technology to plan your territory\u2014you just need to set aside time to do the work. Opportunities won\u2019t fall in your lap. Where do you have good access and growability?\xa0Write it down. Who are your dream clients? Who are a great fit and you just don\u2019t know?\xa0Write it down. How do you plan to reach them? Who are your rockstar clients?\xa0Write it down. That can translate to introductions and referrals. You need to understand the players in your territory before you can do anything else.\xa0
Jeff\u2019s territory sales planning do: Embrace the buddy systemFind a buddy. Jeff worked with another salesperson and they got together once a quarter. They met in the middle and planned for the next quarter. They held each other accountable. Every quarter, they presented what they accomplished, what their revenue looked like, how they executed against their plan, and how successful they were. It\u2019s tremendously beneficial. If you don\u2019t have leadership that will hold you accountable, find a buddy\u2014in or outside of your organization.
The bottom line is that sales is a verb. You have to act on your plan. You can\u2019t afford to sit and wait for sales to happen. Create opportunities, steward them to close business, and maintain those relationships to earn referrals.
Connect with Jeff Bajorek- Connect on\xa0LinkedIn
- Email Jeff at JF(at)JeffBajorek.com
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