For many years, we see companies wasting their key account management training investment in people and programs simply because they have not truly understood what it takes to make it work and make it stick as a way of working (habit) in their business.
Ultimately, the crucial difference between Sales Leaders who succeed and those who don’t is their ability to drive Sales. That is, with a strategic plan and execution. Added to that, a large portion of this success is attributed to their account management abilities.
What Is Key Account Management All About?
Key Account Management is known in the game, simply, as KAM. That said, KAM is the process of going after, winning, and securing main clients with accounts. Firstly, this process involves identifying your key accounts. Secondly, winning their businesses over. And finally, creating and sustaining a mutually beneficial relationship with them for a long term.
But What is a Key Account?
A Key Account are customer accounts that businesses manage separately from their regular customer accounts. That is, because key accounts contribute most of their sales revenues. Ultimately, these accounts are what generate the biggest dollar signs into the business.
Companies implement KAM Strategies on an organisation-wide format. But, it is the Salespeople who are the ones who are most responsible for implementing them.
Why? Because Salespeople are the ones at the KAM frontlines. So crucially, Salespeople need to learn how to manage those key accounts.
So here are the five winning ways for successful key account management.
