In Sales you sell in Key Account Management you help customer buy !

KAM is specific to existing customers in B2B companies with complex solutions, multiple offerings, and long-term repetitive engagements.

KAM requires a deep understanding of customer domain, situation, challenges and then stitching a solution. In Sales, one would be offering a suite of products already available.

Stages of Relationship with Key Accounts

  • Tactical Relationship:
  • Cooperative Relationship:
  • Interdependent Relationship:
  • Strategic Relationship:

Key Account Management Strategy Analysis

  • Strategic: Invest mindshare and ensure profitability
  • Star: Invest time & money. Need not be profitable yet.
  • Status: Maintain the status quo.
  • Streamline: Manage for profitability.

Developing Key relationships

  • Marketplace
  • Strategies
  • What customers want
  • How it adds value in its business
  • Where it makes its money.

Role of Key Account Managers

Implementation roles-

  • Expert in the customer
  • Value developer
  • Point of accountability.

Facilitation roles-

  • Boundary spanner
  • Conduit
  • The focal point of contact.

Relationship building

  • Hunting v/s Farming
  • Measuring the stability of the relationship
  • The trusted advisor role
  • Cross selling techniques

Key Account Management Best Practices

  • Focus on customers that matter most
  • Relationship is the key
  • Looking for opportunity
  • Key Account Management Business Impact
  • Key Account Retention
  • Increased revenue

Princeton Academy resources