Strategic Key Account Management
With greater competition in all markets, companies are increasingly attempting to gain a competitive advantage by forming, long lasting relationships with their strategically important account customers.
While the theory of strategic key account management is straightforward enough, its practical application is not so easy! It requires patience and determination for it to succeed within your own organisation and the support and guidance of an experienced strategic consultant.
Tom specialises in Strategic Key Account Management and regularly presents workshops and seminars in Australia and internationally. Please click here for details of one of Tom's recent seminars.
- Larger, tougher customers with complex organisations;
- Introducing global policies and "rules" for suppliers;
- Demanding higher service levels and more discounts and incentives;
- Knowledgeable about technology, product specifications, the market and your competitors;
- Have high expectations and are lifting the bar on supplier selection;
- Supplier complexity - multiple business units selling to the same customer;
- Products and services alone no longer provide a source of competitive advantage.
Elements of Strategic Key Account Management program
- Vision, strategy & leadership – stakeholder buy in;
- Customer segmentation & prioritisation;
- Strategic Account Plan;
- Appointment of Strategic Account Managers;
- Training/coaching of Strategic Account Managers;
- Value co -creation;
- SWOT - Competitive Analysis and Differentiation;
- Knowledge Management Systems - CRM;
- Performance management - KPI’s , reward system;
- Implementation plan and schedule.
How can Richardson Management assist?
The development and implementation of an effective, highly coordinated strategic key account management program involves the following process steps:
- Strategy development & buy in – Strategy development involving all stakeholders to ensure engagement and buy in across the organisation.
- Group and individual coaching – expert coaching of strategic account managers and line managers is custom designed to be relevant to your customers, markets, products, processes, company policies and specific challenges. The program is scheduled to ensure a minimum of disruption to normal business operations.
- Implementation – strategic account management is a company - wide initiative and needs an internal champion and an implementation plan. Richardson Management can guide and support with expert group and individual coaching and mentoring during the implementation phase - which can take from 1-3 years.
Contact Tom for more information or to arrange a FREE no obligation discussion or meeting.