5 Attributes & Best Practices of Key Account Management That You May Have Never Heard of

Key Account Management You Should Know

Key Account Definition:

They should be the key to your grown and success. Without them, you will take a long time and significant effort to reach your goals. They will give you the credibility and help you generate business from their Industry.

Key Account Identification:

Identify your key accounts much earlier than your competition or you are not going to make many gains. Understand the customer’s business, priorities, market share, and industry grown projections. You need to be there before they call you.

The Number of Key Accounts:

How many Key Accounts do you want to handle? The most important thing about the number of Key Accounts is “don’t put all your eggs in one basket.” But if you have resources to manage only 100 Key Accounts, you should not take up to 200.

Key Account Strategies:

What strategies will you adopt for your Key Accounts? Create a process that you will follow. But, have the courage to change course if that process doesn’t suit the customer. Some of the strategies you can consider are:

  • Partner with the client.
  • Educate the customer at regular intervals.
  • Map the entire Organizational Hierarchy.
  • Meet all the Contacts at regular Intervals.
  • Provide them value in each interaction.

Grooming and Growing Key Accounts:

  • Share ideas for improving your clients business
  • Get your customers to stand out from their competition
  • Be creative. Crack some of their pestering problems.
  • Act and work like a partner. And not like a vendor.
  • Be there before they need you.

Key Account Management calls for focused efforts and specialized Sales Techniques. Providing value on a consistent basis is the key to success, in short.

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