Some may say that territory performance management is ripe for gamification, with different territory “teams” competing against each other on various tasks. Perhaps a better analogy is a crew team, with each territory rowing the firm's boat in its intended direction. In both cases, distribution organizations need an effective method of measuring the performance of each contributing territory.
Sales leadership provides structure, direction, and feedback to optimize performance at each territory level. They have long debated what separates a great territory from an average or underperforming one. Is it simply sales? Market share? Number of relationships? Number of products? Or something else? We analyzed data from our WalletShare for Mutual Funds consortium to answer some of these questions and shed light on what differentiates top-performing territories.
For our research, we categorized each asset manager’s territories into quintiles based on market share. This ensured that smaller territories with less opportunity were not penalized. We then looked at a number of different data points addressing sales, net sales, distribution partners, products sold and rank within the territory, among others.
The results reveal consistent patterns.
Higher Sales Efficiency, Not Just Higher Sales
Net sales efficiency, rather than raw activity, is one of the most pronounced differences we saw across territories. Quintile 1 territories consistently generated more net sales relative to gross sales. This finding reinforces that activity alone is not a signal of success. Selling the right products to the right clients strengthens the relationship and leads to stickier sales.
Greater Penetration at Larger Offices
Top-performing territories generated a higher proportion of their sales from larger offices. Quintile 5 territories, by comparison, tended to rely more heavily on smaller offices. This reflects deliberate prioritization and an ability to compete more effectively in complex environments.
Higher Concentration of Sales at Top Firms
A clear contrast emerges between Quintile 1 and Quintile 5 territories; Quintile 1 territories had a higher concentration of sales coming from the top firms in their territory. This may be correlated to the previous point, in that top firms may have larger offices in general, but that is not necessarily the case. Rather than spreading efforts evenly across a long tail of marginal opportunity, top territories tend to go deeper at the firms that matter most. The implication is not that diversification is bad, but that focus matters.
Broader Product Penetration
Higher-market-share territories are more likely to have sold a higher range of products. This suggests a concerted cross-selling effort stemming from deeper relationships and greater trust, enabling sales teams to move beyond single/double-product wins. It is also a signal that the sales team understands client needs, can speak to those needs using their firm’s products and is viewed as a strategic partner rather than a transactional one.
Conversely, sales teams that focus on one or two products may be more vulnerable to market cycles, competitive pressure or changes in client preferences.
Strong Competitive Position at the Office Level
Top-performing territories are significantly more likely to be among the top-selling managers at the offices they cover. They are more likely to be ranked in the top five managers at an office than in territories with lower market share. This is especially true when we looked at larger offices; there, the differences were more pronounced.
In summary, these outcomes show that top-performing territories are not simply “busier” or “luckier.” They are more intentional, focusing on efficiency over volume, prioritizing scale, concentrating effort where it counts and building relationships that support long-term, multi-product strategic growth.
For sales leaders, the opportunity is found in using these insights to benchmark territories and refine coverage strategy. The data makes clear that improving performance is less about doing more, and more about doing the right things, in the right places, with the right level of focus.
SS&C's Distribution Solutions team works with our asset management clients to help shape their data-driven distribution strategy and execute on insights and opportunities. To learn more about how we can help your firm, read about our offerings and explore our research.
