Sole Territory Coverage programs prospect and develop white spaces, protect territories lacking sales coverage, and enhance sales coverage to identify new customers/win back lost customers.
This model encompasses the entire sales process, from prospecting to closing, and allows organizations to enter new markets, verticals, and geographies to develop new business where sales gaps may currently exist.
Organizations are frequently faced with large territories, driving up the cost per meeting with a customer due to extensive travel time in between appointments as well as adding gaps in coverage. This makes it difficult to target specific areas or markets, leading to forfeited opportunities. Salelytics Sole Territory Coverage programs take a comprehensive responsibility throughout the entire sales cycle to strengthen a company’s market share.
Inside Sales Associates are responsible for understanding how to generate interest, uncover needs that align with your solutions, effectively present the right solutions, handle objections, and close sales. This often transforms into account management when there are additional upselling or cross-selling opportunities, and/or a need for post-sale education and training.
Sole Territory Coverage is an effective way to maximize brand recognition in otherwise unassigned or uncovered accounts. It ensures customers are properly educated and supported in their use of your products and services.
Sales and marketing often collaborate to determine the ideal customer profile, initial product/solution entry point, and key messaging to deliver.
KEY CONTACT STRATEGY - FOCUSED MESSAGE DELIVERY The Inside Sales Associate is the primary point of contact for the customer and is responsible for managing the sale from start to finish. This includes all aspects of the selling process, along with nurturing prospects that aren’t yet ready to move forward in the buying process. The associate uses consensus selling to ensure all contacts within an account are identified and in agreement when it comes to the final decision.
SALELYTICS SUCCESS STORIES - COMPANIES EXPERIENCING GREAT RESULTS FROM OUR SALES SOLUTIONS
Client: Global Logistics Provider Product: Air freight, Sea freight, Overland Trucking, insurance. Program Start: 2015 # of Associates: 6 Sales Challenge: Geographical gaps in coverage, gaps in product lines, speed to market, cost of sales Sales Solution: Deployed an Account Management model to retain and drive incremental margin on existing accounts and augment the growth through a Sole Territory Coverage model by acquiring new accounts. Results: Driving Approximately 2:1 Margin Return on Investment.
Client: Provider of Specialty Medical Devices for Surgical Solutions Product: Surgical solutions and aid. Program Start: 2012 # of Associates: 8 Sales Challenge: Gaps in coverage, speed to market Sales Solution: Leveraged a sole territory coverage model in small and mid-accounts, and a team sell model, working with the field, at the IDN/strategic account level. Results: The team exceeded the plan by 15% Year-over-Year versus the goal of 7%.
Client: Small Respiratory Diagnostic Testing Manufacturer with Patented Technology Product: Pharmaceutical products focused on allergy and respiratory disease. Program Start: 2014 # of Associates: 5 Sales Challenge: Gaps in Coverage, Whitespace Sales Solution: Implemented an Account Management model to nurture current customers and gain reorders, and implemented a Sole Territory Coverage model in whitespace to gain new business. Results: Sold 250k total test kits, translating to $2M in revenue, in the first year of the program, achieving 104% to goal. Covered eight open territories where there wasn’t a field rep, maintained sales, and also added an incremental $270k.