Key
Account Management
Successful key account management
needs some strong strategies to be applied to
each Key account.
Who has key accounts but yet no strategies to
apply to them?
Each of your key accounts needs to be nurtured
with at least weekly contact in some form or another.
Why is this so? Well accounts that provide 80
% of your revenue pay the way of your business.
The revenue from these accounts impacts on the
day to day success of your business, so does it
stand to reason that we do not contact these people
on a day to day basis?
Key account strategies are very simple strategies
that we can use to impact on the bond between
us and our key accounts, but also our positioning
between our key accounts and us. For example it
may be the continual improvement in our sales
processes to ensure better and on time deliveries,
it may the deletion of some product lines which
are low margin and cause high rejection rates,
it could be a research project which you have
embarked on to assist your key account with their
own strategies for the future.
Whatever the case you need to be proactive with
your key accounts and to be known throughout their
organisation from the outset.
Lets not be in the position where we are looking
to meet the major decision-makers in your key
accounts during a moment of crisis. This should
be a continual manner of relationship building.
In fact it should be a designated process for
all key accounts.
Key account management
- Ensure account plans are in place for all key
accounts
- Make sure that account managers are known throughout
the key account’s organisation
- Key account building strategies can be in the
form of a sales process and tracked by CRM
- Ensure personal relationships are formed with
key accounts
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