Today’s guest, Wayne Moloney, shares that the average tenure of a B2B salesperson is only 16 months and it’s steadily decreasing. He believes that having the right territory sales plan in place can lead to long-term success, growth, and longevity in the profession. In this episode of Sales Reinvented, Wayne shares how salespeople can transform their plans with some simple questions.
If you’re planning a territory, you’re clarifying and articulating where you want to go and what roads will lead to them. If you’re reactive, you’re reacting to suspects, not the right type of customers. Territory planning helps you target the right customers, establish goals for income, and ensures sales growth over time. It also helps you engage with customers early enough in the sales process to have an impact.
A good sales plan defines the specific industries and sectors that will offer the most opportunity to you—and why. That’s the foundation of any plan. Then you must look at the characteristics of your high-value clients. That helps you identify your ICP. Focus on the organizations you can best help versus those looking for a white paper offered by your marketing teams. A good salesperson also completes a comprehensive competitive analysis (i.e. what your competitors are doing and why they’re doing it).
Accountability is critical. After 40+ in sales and business management, Wayne still has a mentor that he shares his goals with who helps hold him accountable. It’s critical to Wayne’s success and will be to yours, too. Accountability means taking responsibility for your plan and the actions you take. Another critical component? Set goals and write them down. Wayne emphasizes that “A plan that’s not written down is just a thought.” You must define and implement actions to make things happen.
Great salespeople don’t operate as islands. Wayne worked with someone who got a group of people together and asked them to pull apart and critique his plan to strengthen his approach. One of the biggest opportunities for salespeople is achieving domain expertise. Developing this starts by knowing what businesses to focus on. You can’t be all things to all people. You need to understand and know your addressable market.
Wayne shares some simple yet strategic questions you can ask yourself to build a successful territory sales plan:
Walking through these questions is the easiest way to build a plan that’s simple, easy to understand, and helps drive you to success.
What are Wayne’s top three territory sales planning dos and don’ts? Listen to find out!
A man Wayne calls “Jim” used to work for him. Jim was very successful in his sales position but didn’t know why. He was always reluctant to make a plan. Because he was so successful, it was hard for Wayne to argue why he should build a plan. He still taught him the proper framework but never truly enforced it.
Jim moved on and took a role with a major credit card company. One day, Jim called Wayne and thanked him. Why? Because Jim struggled in the credit card industry. So he sat back and went through Wayne’s planning process. He became the top salesperson in his organization. He closed the two biggest global opportunities because he knew where to focus his territory plan.
As a sales manager, whatever you teach your team is not wasted if you coach them properly. Wayne’s message to salespeople? Don’t dismiss what you’re taught—it will become useful at some point in your career.
Audio Production and Show notes by
PODCAST FAST TRACK