Key Account Management
Key account management(KAM) is the heart and soul of revenue for any business. According to Gartner, of your future revenue will come from your existing customers. If you don’t focus on your most valuable customers you are likely missing out on your best growth opportunities. KAM practice usually involves part of marketing, relationship development, sales intelligence, market research and strategy management. It requires months and years of implementation efforts.
KAM is far more than just selling products to big customers. It is a process that deals with customers who have a strategic role to play in the growth of an organization. This therefore includes a range of accounts – big, medium, and small – that are perceived to be heading in a direction that is critical to an organization. It is a long-term business strategy and require consistent & significant investment to yield maximum returns. These investments often include structuring and aligning your business processes and systems to maximize account value.
Since KAM is critical to an organization’s long-term success, training KAM resources should be an integral part of every organization’s business strategy.
- Key Account Planning
- Shortlisting your key accounts
- Identify decision makers in each account
- Understand and define mutually beneficial goals
- Understand the Marketing Process
- Consultative Selling in Key Account Management
- Plan and implement retention strategies
- Identify opportunities and build value-chain
- Build stronger value-added customer relationships leading to increased long-term revenues
- Gain a better understanding of your customers’ needs and expectations
- Plan and implement growth strategies
- Develop a strategic approach to account management and customer relationships
Ideal or Useful for:
- Key account managers
- Key account executives
- Senior Sales Employees
- First-time KAMs