Step 4: Action Plans
The action plan is the plan of attack - the steps that will enable the account to reach its goal. It should develop naturally from the knowledge the Territory Manager gained from his research and customer contact. A detailed action plan should be developed for each target account. Of course, the plans for accounts with which you currently do Business and have relationship equity may be more extensive than those for newer prospects. This action plan determines how to match your company resources to every opportunity that exists within that account.
Each task in the plan includes three critical elements: a "deliverable" or result that the task will produce, an owner responsible for the task, and a due date. Defining a clear deliverable ensures that you are not confusing motion with progress. You must be clear about what you are trying to accomplish in each step to be sure that the overall plan will produce the desired result. Deliverables are the difference between passive forecasting and active planning. The owner of the task is the person responsible for its completion. This is not necessarily the person who will do all the work involved. Each participant in the plan must acknowledge and accept responsibility for his portion of the plan.
Task owners could include:
* Inside sales
* District Manager or Regional Manager
* Vice President of sales
* Credit and collections personnel
* Operations manager
* Branch manager
* CEO in special cases
Definitive action plans are more than personal account visits once a month. They are more than introductions to upper management and they are more than a commitment to work with management to submit the lowest bid. Action plans must be precise, definitive and measurable. They could include tasks for getting specific customer information, introducing new product lines, entertaining key players, etc.
Do not make the mistake of putting all your energy into your largest accounts. This is especially true when you are getting the majority share of spend from that account. Remember, the TGA process focuses on the greatest potential for growth. Instead of simply learning to "do what we have always done a little better," we need to become aware of and practice understanding that involves re-examining everything we do - including how we think about our customers and our role in their future.
This often means letting go of our existing knowledge and competencies, recognizing that they prevent us from learning new things. This is a challenging and sometimes painful, but ultimately rewarding, endeavor.
Step 5: Track Progress
Progress on TGA action plans should be tracked, and specific TGA discussions between the Territory Manager and the Sales Manager should occur on a regular basis. The Territory and sales Managers should also discuss and update the action plans where appropriate. A Territory Opportunity Action-planning Discussion should occur on a regular basis (monthly is recommended) to monitor results and make the appropriate course corrections.
Targeting for growth is not a complex process. It is built on best practice sales principles. However, commitment on the part of the sales Manager and the Territory Manager is essential to success. The WIIFM (What's In It For Me) is simple: MORE MONEY.
Effective targeting produces growth in revenue, profits and market share. Such growth increases sales incentive and enhances performance. Improved performance leads to more money for both the Territory Manager and the sales Manager.
Dr. Eric "Rick" Johnson (rick@ceostrategist.com) is the founder of CEO Strategist LLC. an experienced based firm specializing in Distribution. CEO Strategist LLC. works in an advisory capacity with distributor executives in board representation, executive coaching, team coaching and education and training to make the changes necessa
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