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Chapter 15 Managing Your Time and Territory The Value Of Time “Time is money” Salespeople average 920 hours a year in front of customers Salespeople must make every hour count to be successful Often a question of how to allocate resources

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Chapter 15

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Chapter 15

Managing Your Time and Territory


The Value Of Time

  • “Time is money”

  • Salespeople average 920 hours a year in front of customers

  • Salespeople must make every hour count to be successful

  • Often a question of how to allocate resources

  • Think about how much time you have spent on your university education

    ____Hours in class X ____hours studying = ______


The Time Management Matrix

Important

Not

Important


The Self-Management Process

The four stages of the self-management process include:

1) Setting goals

2) Allocating resources

3) Implementing The Time Management Strategy

4) Evaluating performance


Setting Goals

The Need For Goals

  • Career goals and objectives should reflect personal ambitions and desires

  • Sales goals provide some of the means for reaching personal objectives

  • Guides the decision process

  • Increases performance


Goals

The Nature Of Goals

  • Goals should be specific and measurable

  • Goals should be reachable yet challenging

  • Goals should also be time based

    Types Of Sales Goals

    Performance Goals (See Exhibit 15.3 – P. 397)

  • Goals relating to outcomes, such as revenue

  • These types of goals should be set first

  • Do not always need to be quantifiable


Goals

Activity Goals

  • Behavioral objectives that reflect how hard the salesperson wants to work

  • All are intermediate goals

    Conversion Goals

  • Measures of a salesperson’s efficiency

  • They reflect how efficiently the salesperson uses resources, such as time, to accomplish performance goals

    Setting Sales Goals

  • Performance and conversion goals are the basis for activity goals


Allocating Resources

Resources To Be Allocated

  • Salespeople consider physical resources as investments because resources must be managed wisely to generate the best possible return

  • A key resource that salespeople manage is time

    Where To Allocate Resources

  • Often a question of finding the customers or companies that are most likely to buy and then allocating resources to maximize the opportunities they offer


Account Classification and Resource Allocation

ABC Analysis

  • Simplest classification scheme that ranks accounts by sales potential – know the 80/20 rule – see P. 400

  • Classification schemes can be used to generate call plans

  • Works well with industries that have regular contact with the same accounts.

    Examples: Eli Lilly and SC Johnson Wax


Account Classification

Grid Analysis

Sales call allocation grid- classifies accounts on the basis of the company’s competitive position with an account along with the accounts sales potential – Exhibit 15.5

Account-opportunity- indicates how much the customer needs/able to buy the product

Strength of position- indicates how strong the salesperson and company are in selling the account


Sales Call Allocation Grid

The Grid and Current Customers

  • Great tool for analyzing current customers

  • Research has found customer share to be a better resource of profit than market share

    Market Analysis

  • Evaluation of opportunity within segments in the overall territory to determine allocation of time and other resources

    Using The Computer For Analysis

  • The new sales automation software products are designed to lets salespeople determine where an account stands in the buying cycle


Time Management Strategies

Investing In Accounts – Exhibit 15.6

  • Strategies require the use of several resources

  • Salespeople invest in time, free samples or trials, customer training, displays and other resources in their customers

  • Customers generate nearly all of a firm’s revenue


Implementing The Time Management Strategy

  • Time is a limited resource

    Daily Activity Planning

  • Salespeople must have a good understanding of their own work habits

    Guidelines

  • Salespeople must allocate time for prospecting and customer care

    Prime selling time- time of day at which a salesperson is most likely to see a buyer

  • Prime selling time differs from country to country


Time Management

Planning Process

  • Make a to-do list and prioritize your schedule

  • Estimate the time required for each activity

  • Develop an effective time schedule

    Using The Computer For Planning

    Tickler file- file or calendar that salespeople use to remember when to call specific accounts

    Need For Flexibility

  • To plan for the unexpected make sales calls prioritized; adjust your schedule to fit time concerns


Time Management

Making More Calls

  • Develop efficient routes and make daily plans

  • “Out Tuesday, back Friday complex”

  • The sales rep must make full use of all available days to get the most out of the territory

    Routing

  • Method of planning sales calls in a specific order to minimize travel time

    Routine call patterns- salespeople see the customers regularly

    Variable call patterns- when the salesperson must call on accounts in an irregular order


Time Management

Routing (Contd.)

Four types of routing plans: P.409

Circular routing

Leapfrog routing

Straight-line routing

Cloverleaf routing

Zoning

Definition: Dividing the territory into zones, based on ease of travel and concentration of customers, to minimize travel time

  • Works best for compact territories or on non-regular sales calls


Time Management

Using Mail and Telephone

  • Customers may appreciate a time saving call over a visit

  • Salespeople can make numerous customer care calls

    Handling Paperwork and Reports

  • Salespeople should think positively about paperwork

  • Salespeople should not let paperwork accumulate

  • Routine reports should be completed daily

  • Salespeople should set aside a block of nonselling time for paperwork


Time Management

Using The Computer To Handle Paperwork and Communications

  • Make use of a laptop

  • Can help international selling organizations operate smoothly by reducing communication barriers

  • Territory management capabilities

  • E-mail – no errors & within 24 hours


Evaluating Performance

Postcall Analysis

  • Salespeople should take a moment to write down what occurred and what needs to be done after each call

    Activity Analysis

  • Salespeople should review their activities in relations to their goals

    Performance Analysis

  • An earnings goal can be an effective check for overall performance, and evaluate sales by product type

    Productivity Analysis

  • Identify which strategies work

    Conversion ratio- number of sales per calls; important measure of effectiveness


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