What is enterprise territory management and what are its benefits for businesses
Enterprise Territory Management (ETM) is a dynamic and forward-thinking approach to achieve sustainable growth in the local market. ETM is an elaborate, responsive and proactive global strategy that allows businesses to expand their operations into new territories, by leveraging on the company’s localized knowledge, resources and relationships with customers to optimize the profitability of their business. It is the management of a business with consistent and global focus. And by extension, the process by which a customer’s point-of-view is organized and successfully managed across the enterprise. Enterprise territory management consists of many operational components, each of which aims to solve different business problems. It includes distribution strategy, brand image development, product distribution and new market growth strategies. With all its benefits, this approach to globalization has become a must for all companies that are seeking to maximize their profits.
“one of the core components of ETM is the distribution strategy”
A business operates within a territory. It isn’t just a place where you sell products or services—it’s an area where customers shop, buy, and interact with your business. When viewed as an operational process, it helps you to identify and develop a network of partners and suppliers that can provide goods and services at acceptable prices. By doing so, you can eliminate unnecessary costs and increase sales.
While the way your business operates within a territory is based on the market conditions and competitive landscape, there are a number of strategies through which your company can expand and grow. These include:
How can salesforce help with enterprise territory management
Salesforce’s Devforce, a solution designed specifically to enable companies to manage the strategic objectives of their enterprise territorty, enables enterprises and their customers to effectively integrate the various functions and processes of a company. By accurately tracking complex sales territories, Devforce helps organizations understand how their sales teams operate within these territories. It is also used by businesses in managing their key customer relationships and activities. In this way, Devforce helps an organization more efficiently allocate resources where they are needed most. For more information on Devforce, please visit http://www.devforce.com/
Salesforce enterprise territory management enables organizations to accurately and efficiently manage their sales territories. Real-time data enables companies to track activities at the individual customer level, eliminating the complexity of managing customers individually. Enterprise territory management automates sales force activities so that time is spent on more productive tasks for both sales and marketing teams.
In addition to providing a way to manage your territories, you also have a tool for talking with your customers. You can find people, gather information and insights on them, and finally call on them when you need something or they need you. Businesses that use Salesforce are able to get to the next level because territory management – or simply sales force automation (SFA) – is a golden tool they use in the mix.
Salesforce Devforce enables organizations to manage their enterprise territories accurately and efficiently. Whether managing a single sales department or an entire organization, Devforce reports provide a complete picture of each customer’s financial history and needs.
Territory management is making the sales and marketing teams work more effectively together, allowing them to better understand customers and the brand. By accurately tracking complex sales territories, Devforce helps organizations understand how their sales teams operate within these territories.
Case studies of businesses that have benefited from using salesforce for enterprise territory management
A global leading software company was growing at an enormous rate. The company was experiencing a rapid increase in the number of its customers globally. This growth forced the company to set up a well-organized expansion plan that would help it efficiently expand into new territories. To achieve their goals, they used Salesforce for enterprise territory management allowing them to track each and every aspect of each sales team. With this flexible tool, they were able to track each and every sale as it changed hands, as well as communicate and manage the movements of their sales teams.
A large IT consulting organization was experiencing problems as they implemented aggressive growth plans. The IT consulting organization was having difficulty determining the total number of sales opportunities and their worth. This organization used Salesforce for enterprise territory management to track each lead at each stage of the sales process. With this software, they were able to manage all the information in one place and utilize insights generated by Salesforce to manage their business more effectively.
Tips on setting up your own enterprise territory management system using salesforce
Customer Relationship Management (CRM) is a technology used for managing your customers. This topic is closely allied to enterprise territory management because it also makes sure that the relevant data from your customers and prospects are found, maintained, updated and secured within an enterprise area. In this way, you can control the flow of information from customers to your company, as well as from companies to their customers.
It is important to note that enterprise territory management and customer relationship management go hand in hand because managing your customers is really the same as managing your territories.
May be good to mention chart of accounts?
In relation with territory management, however, CRM software is used extensively for its reporting capabilities. The system can pull in data from a number of areas in your organization such as marketing databases, contact lists, etc. It can also pull out data such as sales figures.
CRM is most effective when the data from other departments are integrated into its management structure especially marketing, sales and operations. You can use CRM to get data on contact lists, future prospect names and sales figures to then integrate it back with your territory management system.
FAQs about enterprise territory management and salesforce
Salesforce is a customer relationship management (CRM) tool that is used by companies to manage various aspects of their sales and operations. The sales and customer data provided by the CRM tool is an invaluable resource to any company, regardless of the size or nature of its business. By knowing your customers, you can make intelligent marketing and business decisions, increase customer loyalty, improve customer satisfaction and accomplish your goals. To learn more about the wonderful world of CRM, read the following FAQs about Enterprise Territory Management.
Q: What is enterprise territory management?
Enterprise territory management (ETM) is the practice of consolidating all of your customer data into one central location. Salesforce enables you to manage all aspects of your sales, marketing and support functions from within one customer relationship management (CRM) tool. This provides a central repository for everything you need to know about your customers and the ability to use that information for decision-making purposes. You can use ETM in addition to or instead of traditional methods for managing territories.
Q: What does ETM do for me?
ETM allows you to organize your sales, marketing and support activities into geographical areas. Your sales and service representatives dedicate time quotas to customers based on the territory in which they live. Furthermore, you can allocate all of your resources – people, money and technology – to where they are needed most. This allows for optimum use of internal resources, with greater efficiency and more effective utilization of your marketing dollars.