Answer to Question #280437 in Finance for Jabs

Question #280437

 EXPLAIN how the bank manages the sales team and territory to make sure duplication of effort does not happen.


1
Expert's answer
2021-12-20T10:23:58-0500

Bank manages the sales team and territory in various ways, among those are by:

  1. Developing rotational schedules for visits: Teach the sales teams on when to reach out to the client. A CRM system can be used to streamline this process
  2. Divide the territories into demographics factions based on the data of the the customers: This ensures that there is clear role specifications for each sales teams and no duplication of avaoidance of work. In addition, it makes it easy for banks to track the schedules and assign duties. Geographical areas with greater sales are often assigned to sales teams with experience and vice versa.
  3. Finally, banks can manage sales team and terriitories by tracking performance over time: Performance evealuation can identify the strengths and weaknessess of the sales team and prompt reassignment. In addition, performance evaluation makes it easy to identify any work duplication and reassign the sales team to other territories

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