Territory management in business involves dividing a sales team's target area into smaller geographical regions. Each region is then assigned to a specific sales representative to manage and develop. The goal of territory management is to ensure that the sales team is able to effectively cover the entire target market, while also providing the best customer service possible. By dividing the territory, sales reps are better able to focus on their assigned area and develop stronger relationships with their customers.
Why it matters in sales
Territory management is the backbone of any successful sales organization. It's like a well-organized orchestra - every player has their own sheet music and instrument, and when they play together, they create a symphony of sales. Without it, sales teams would be like a ship without a captain - lost at sea and going nowhere fast. Territory management not only ensures that the sales team is able to effectively cover the entire target market but also reduces the amount of overlap between sales reps and strengthens customer relationships. In short, territory management is like a finely tuned machine that keeps the sales organization moving forward.
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