Territory Analysis
Territory planning is an important and intensive process each organization must revisit frequently in order to maximize the effectiveness of their sales team and service levels. Territory planning requires a heavy dose of reliable sales data, as well as business-specific input. Factors such as sales goals, product offering, team makeup, economic trends, staffing requirements, mobility, and compensation features all must be weighed to draw appropriate conclusions.
Your sales team is the single biggest investment you make in the success of your business, and this investment requires a detailed planning and analytical approach to achieve the greatest return. At EDG (Elevation Data Group), we have developed a robust territory analysis program that pairs evolving market and economic indicators alongside your distinct business approach in order to assess your current territory structure and areas of greatest opportunity, along with quantifiable trends to support long term strategic planning.
EDG Territory Analysis is a stand-alone consultative project that includes the following:
- Collaborative team approach: your team + EDG Certified Analyst + EDG Sales Ops Executive.
- Data load from source systems and files.
- Full data blending: your territories + your sales data + market and economic trends.
- Custom dental industry variables like dollars-per-dentist and average household income.
- Integration of your unique business variables.
- Product focuses.
- Proprietary sales opportunity data model where under-served or high potential sales areas identified and ranked.
- New/prospective territories with resulting impact analysis.
- Geospatial data points.
- PowerBI mapping tools.
- Optional: Distance/Travel Time Analysis measures sales performance against travel time for efficacy.
- Optional: Territory Profitability Analysis captures sales territory costs and determines viability thresholds by weighing revenue and service expectations.
- Comprehensive analysis report included in final deliverable (electronic & print).
The dental industry is changing drastically, and post-COVID market conditions have created new dimensions to consider. More than ever before, you urgently need a complete view of your sales position in the marketplace. EDG is a data services leader in the dental market and can produce a comprehensive, customized, and instantly applicable analysis in as little as two weeks.
Why is a territory analysis so important?
- Baby Boomer retirements, the rise in special market consolidation, and shifting business practices, have all changed the dental market drastically in the last five years.
- With increased population migration, states’ entire demographics have shifted from what they were just a few years prior.
- Sales turnover is as high as it has ever been at 35%. Re-assessment is needed as sales team dynamics have changed.
- Due to the volatility of the labor market, regional management structures have changed. Regional managers may be spread too thin or forced to directly manage territory components that require greater tactical support.
- Over time, your business strategy has evolved. If you are still using territory structure from an old strategy, it is time to re-align.
- Competitive companies are changing, leveraging continuous assessment and improvement to thrive as times change.
EDG is ready to support your team with a comprehensive territory analysis. If you are interested in discussing this further, contact us below for a detailed review and itemized scope.