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What is Key Account Management?

What is Key Account Management? Key account management (KAM) defines full relationship between your business and the customers you are selling to. It describes the individual approach of sales people to their customers in order to create long everlasting business relationship.

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What is Key Account Management?

  1. 1. Defines the full relationship between your business and the customers you are selling to. It revolves around handling the customers who play a strategic role in the growth of a supplier. Key account management
  2. 2. Key Account A person or a group of people with whom your business has built more than just a standard business relationship, based on the trust level between you and the buyers.
  3. 3. When dealing with multiple individuals, it´s good to record pertinent facts about decision-makers within the account that you’re dealing with. Our goal is to access information and grow key accounts into profitable long-term relationships.
  4. 4. Make sure you understand the difference between a real Key Account and a Standard Account. Ideally, for a Key Account, the relationship has evolved from vendor-buyer to partnership. The primary reason for evolving a partnership is that the better your buyer (and other contacts at the company) succeed, the more your product or service is going to succeed at that company.
  5. 5. Based on this relationship you can cluster your accounts by account types and account classification: ● Account Type – is a customer, be it a individual or company, that you are connected to: for example a new customer, existing customer, partner etc. ● Account Classification (0, A, B, C, D) – enables you to classify your accounts from 0 (you do not know this account at all) up to D (your Key Account - Partner)
  6. 6. By building an Org Chart for each of your accounts, you will always know to whom you are talking, where they stand in the order of things, and who must still be convinced in order to bring the sale to a close. Making notes about each contact's behavior in the Org Chart is also useful. For example, "Don't talk to Joe if he's in a rush and under pressure; he'll just say no to everything." Or "Friday is a good day to talk to Melinda as she's always looking forward to the weekend and going to the beach."
  7. 7. Pipeliner CRM is tool that support sales teams and managers with their activities and help them to provide better service to their clients. VISIT PIPELINER TO LEARN MORE