10 Principles of Key Account Management

11 Mar
  1. Leadership must continuously champion and reinforce the value of Key Account Management to ensure its adoption into the company & sales culture.
  2. It’s all about the customer’s business and industry. Understanding the customer’s business drivers, structure, and strategies will ensure your solution have maximum business impact.
  3. Planning isn’t doing.  Talking isn’t doing.  Doing is doing.  Implementation is what we have to get better at – not adding complexity to our plans! Nothing works without superior EXECUTION.
  4. Account growth comes from customer growth.  Seeking opportunities to help the customer better compete in their market must be a top priority.
  5. Providing superior value and solution innovation “through the eyes of the customer” form the cornerstones to build long term relationships.
  6. Understanding how decisions are made and aligning to the value drivers for each key influencer in the decision making process is crucial.
  7. The KAM process itself can often be the only unique point of difference between you and your competitors as products become commoditised.  Involving the customer closely in the planning, execution, and periodic review of the business relationship builds customer loyalty and retention.
  8. Key Account Management must operate in a “living,” continuously improving framework. Not something we do every 12 months. 
  9. Superior knowledge of competitive tactics and strategies will enable us to develop unique differentiation and lead the account team to communicate unique benefits.
  10. It is critical for the team to have the right strategy AND the right skills.  Having one and not the other (or worse, neither) may not achieve optimum results or desirable objectives.

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