Many organizations already have some account managers who may function very similar to what we are referring to as a Strategic Account Manager. The underlying benefit of a more formalized SAM program is enabling the organization to create a common operating platform to achieve continued well into the future organizational excellence in the art and science of strategic account management; ensure the retention of their most significant accounts for the long-term.
It becomes their competitive differentiator and their platform for continued success. The Proven 8 1. Process Client engagement process; who, when, and how?
Loyalty assessment process Knowledge management; Account, relationships, opportunity and financial management Ongoing weekly, monthly, quarterly through formalized team collaboration; including reporting, communications and action planning Internal business reviews External business reviews; Collaborative Action Planning with accounts Economic Value Propositioning; creating, delivering and validating economic value 3.
Methodology Strategic and quantitative assessment of: Account situation, opportunities, finances and relationships Economic Value Propositioning ROI calculations Development of Strategy and tactical plans action planning 4. Skills Senior Level relationship building, management and engagement Business and financial acumen Facilitating, leading, managing and coaching the account team Negotiations 5.
Remember, key account negotiations should never be based on gut or experience. Instead, the same level of analytical rigor, due diligence, and capability building leveraged across finance, operations, and strategy should also be used across key account negotiations. Read more HERE. Improve employee engagement as customer engagement is highly correlated to employee engagement.
Simply, the key to loyal, engaged customers is first to create loyal, engaged employees that are then inspired to drive service excellence and "wow" experiences for customers.
Click HERE for additional information on "why" employee engagement is vital to key account success and click HERE for details on "how" to improve employee engagement. Personalize key account experiences and segment at a level of one as key accounts expect personalized, predictive solutions that help them solve their most pressing problems.
Simply, the strategic focus should never be at a broad or even segmented level but rather at an individual program level to maximize NPV. With key accounts often representing a significant portion of total revenues, enterprises can no longer take a status quo approach to KAM.
Indeed, key accounts are generally under attack — seeing on average percent lower margins than other accounts while also requiring significantly more time and company resources. Thus, key accounts are often the least profit generating portion of the business. However, this need not be the case as focusing on KAM offers significant low hanging fruit that when implemented properly can drive significant revenue and margin improvements. The proposed 10 best KAM practices See Exhibit 4 can help any enterprise and sales division optimize key account revenue and margins for both the short and long-term, ensuring key accounts are no longer diluting but rather growing enterprise profits.
Joshua Seedman is the founder and chairman of PNI Consulting, a management consulting firm that specializes in global transformations. Who We Are. Case Studies Client Results. Interim CxO Model. Leadership Redefined. Leadership Transformations. Leadership Redefined About The Book. Leadership Redefined Purchase. Leadership Articles. Digital Transformations. Customer Experience. Organizational Health. Sales Transformations.
Marketing for the Digital Age. Key Account Management. Most Popular Articles. Digital Transformation. Employee Engagement. Growth Strategy. Data Strategy. Submit RFP. Author: Joshua Seedman. Table of Contents. Executive Summary. View fullsize. Best Practice 1 - Become a Solution Provider -.
Best Practice 2 - Understand Account Economics -. Case Studies. Organizational Health Transformation. Enterprise Decision-Making Turnaround. B2B Sales Transformation. Decision-Making Turnaround. Sales Transformation. Transformation Articles. Think Culture Is Just a Buzzword? Think Again. Want Raving Customers?
0コメント