Key Account Management
Key Account Management
Benefits of KAM
Select the right Key Accounts
Increase client relationships
Increase revenues from Key Accounts
Identify Key Accounts gaps
Key Account planning
Our Process
Key account management (KAM) is the process of planning and managing a mutually beneficial partnership between an organization and its most important customers. Key accounts are significant to an organization’s sustainable, long-term growth and require a substantial investment of both time and resources.
Select the right Key Accounts
There are 3 critical steps in selecting Key Accounts:
Conduct a Portfolio Analysis
Tie your company’s overall strategy to the selection analysis
Start with a pilot (2-3 accounts) then expand
Key Account Planning
- Accounts’ Analysis.
- Accounts’ Segmentation. …
- Understand The Decision-Making Unit. …
- Monitoring/Follow-Up.
Increase client relationships
- Streamline Communication.
- Be Relationship-Focused.
- Build Trust.
- Long-Term Strategic Planning.
Increase revenues from Key Accounts
- Make Sure Your KAM Program Has High-Level Support
- Train Your Key Account Managers
- Reward Your Key Account Managers
- Assess and Update Your KAM Program Regularly
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FAQS.
FAQS.
A successful Key Account Manager is: Empathetic – deeply understand the goals, drivers, and needs of others. Service-oriented – ready to go the extra mile for their clients. … Good communicator – writes and speaks for impact; confirms that the other side has the same understanding.
What Key Account Management Is. Key account management, also called KAM, is the process of going after, winning, and keeping key accounts. This process involves identifying key accounts, winning their businesses over, and creating and sustaining a mutually beneficial relationship with them.
ACCOUNTS’ ANALYSIS, ACCOUNTS’ SEGMENTATION, UNDERSTAND THE DECISION-MAKING UNIT, DIAGNOSIS, SET OBJECTIVES,, ACCOUNT TACTICAL PLAN. MONITORING/FOLLOW-UP.
Problem analysis therefore involves identifying the overriding problem and establishing the causes and effects related to that problem.
Your target customer is the person you’ve identified as most likely to purchase your products, according to Entrepreneur.com. This is a much more segmented portion of your target market, as you’ve identified certain aspects of this individual.
Understanding customer needs and wants will enable a company to ask customers additional questions regarding what other products would stoke their interest. … It is important for a company to know customer needs and wants with regard to itself – that is what customers expect from both aspects.
There are four main customer needs that an entrepreneur or small business must consider. These are price, quality, choice and convenience.
Trust and confidence is the number one most important thing to a prospective customer. Not just pre-sale, post-sale as well. Without trust, you cannot influence the prospect to buy.
Brainstorm and identify specific tasks, List the tasks and identify what’s needed to complete them, Use SCHEMES to double check your action plan, Prioritize the tasks., Set deadlines and milestones, Complete each task with the end goal in mind.
It describes the way your group will use its strategies to meet its objectives. An action plan consists of a number of action steps or changes to be brought about in your community. Each action step or change to be sought should include the following information: What actions or changes will occur.
Developing an action plan can help changemakers turn their visions into reality, and increase efficiency and accountability within an organization. An action plan describes the way your organization will meet its objectives through detailed action steps that describe how and when these steps will be taken.
The purpose of a Business Action Plan is to set out what resources are required to reach the goal, create a timeline of what specific tasks need to be completed and determine what resources are required to reach that businesses goal
It Helps to Set the Right Goals. In particular, planning helps to critically assess the goal to see if it’s realistic. It facilitates decision making and allows setting a time frame by predicting when the company can achieve its goal.
Sales execution refers to the actions taken place to guide a lead through the sales funnel and ultimately closing the deal. … This does include how much support your sales team has, such as training, quality, and how much quality data & analytics are available to them.
A good execution plan covers milestones and tasks for your business to achieve as well as what resources will be required to make them happen.
A sales plan should contain the following sections:Executive Summary. This is your opening ‘statement’,Business Goals With Revenue Targets, Review of Past Performance,Specific Strategies, Methods, and Playbooks,Customer Segments/ Buyers Persona,Team Capabilities and Resources, Action Plan, Sales Tools.
A successful Key Account Manager is: Empathetic – deeply understand the goals, drivers, and needs of others. Service-oriented – ready to go the extra mile for their clients. … Good communicator – writes and speaks for impact; confirms that the other side has the same understanding.
What Key Account Management Is. Key account management, also called KAM, is the process of going after, winning, and keeping key accounts. This process involves identifying key accounts, winning their businesses over, and creating and sustaining a mutually beneficial relationship with them.
ACCOUNTS’ ANALYSIS, ACCOUNTS’ SEGMENTATION, UNDERSTAND THE DECISION-MAKING UNIT, DIAGNOSIS, SET OBJECTIVES,, ACCOUNT TACTICAL PLAN. MONITORING/FOLLOW-UP.
Problem analysis therefore involves identifying the overriding problem and establishing the causes and effects related to that problem.
Your target customer is the person you’ve identified as most likely to purchase your products, according to Entrepreneur.com. This is a much more segmented portion of your target market, as you’ve identified certain aspects of this individual.
Understanding customer needs and wants will enable a company to ask customers additional questions regarding what other products would stoke their interest. … It is important for a company to know customer needs and wants with regard to itself – that is what customers expect from both aspects.
There are four main customer needs that an entrepreneur or small business must consider. These are price, quality, choice and convenience.
Trust and confidence is the number one most important thing to a prospective customer. Not just pre-sale, post-sale as well. Without trust, you cannot influence the prospect to buy.
Brainstorm and identify specific tasks, List the tasks and identify what’s needed to complete them, Use SCHEMES to double check your action plan, Prioritize the tasks., Set deadlines and milestones, Complete each task with the end goal in mind.
It describes the way your group will use its strategies to meet its objectives. An action plan consists of a number of action steps or changes to be brought about in your community. Each action step or change to be sought should include the following information: What actions or changes will occur.
Developing an action plan can help changemakers turn their visions into reality, and increase efficiency and accountability within an organization. An action plan describes the way your organization will meet its objectives through detailed action steps that describe how and when these steps will be taken.
The purpose of a Business Action Plan is to set out what resources are required to reach the goal, create a timeline of what specific tasks need to be completed and determine what resources are required to reach that businesses goal
It Helps to Set the Right Goals. In particular, planning helps to critically assess the goal to see if it’s realistic. It facilitates decision making and allows setting a time frame by predicting when the company can achieve its goal.
Sales execution refers to the actions taken place to guide a lead through the sales funnel and ultimately closing the deal. … This does include how much support your sales team has, such as training, quality, and how much quality data & analytics are available to them.
A good execution plan covers milestones and tasks for your business to achieve as well as what resources will be required to make them happen.
A sales plan should contain the following sections:Executive Summary. This is your opening ‘statement’,Business Goals With Revenue Targets, Review of Past Performance,Specific Strategies, Methods, and Playbooks,Customer Segments/ Buyers Persona,Team Capabilities and Resources, Action Plan, Sales Tools.
Blogs on KAM
Read more on blogs on KAM get more insights
8 Best Strategies for Successful Key Account Management:
“Nothing is more important than the customer relationship.”Most businesses will have a customer base and it is very important to value them as an asset.
What is Account Based Marketing
Apart from generating leads, ABM also takes a holistic marketing view. Marketing existing customer accounts to drive sales and cross-selling is one of the keys to getting the most out of your biggest account.