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Key Account Management
Managing the customer project: Core tasks
There is a high degree of overlap between the expertise and skills required in sales and account management yet with account management, the emphasis is more on being the manager of the ‘customer’ project. Listed below are the range of activities undertaken by a Key Account Manager:
Between the Key Account Manager and the account: Managing relationships and identifying opportunities
- Relationship management, especially at a decision making level.
- Knowledge about the customer’s market and sector.
- Opportunity management.
- Escalation management.
Between the Key Account Manager and their own organization: Pooling resources for the customer
- Create transparency in relation to the account.
- Represent requirements.
- Coordinate resources.
- Manage account team(s).
- Ensure account development.
The internal ‘impact’ is a new and particularly important dimension of a Key Account Manager’s activities. This aspect is often underestimated. Managing virtual) cross-functional teams without a supervisory function requires special skills which are generally not taught as part of a ‘classic’ career in sales.
What should you consider when developing your Key Account Managers?
Being a Key Account Manager involves managing complex internal issues as well as developing customer relationships on a medium to long-term basis. Your Key Account Managers might be good sales people but lack a few important skills in relation to understanding the added value for the customer and managing a team. Have you critically assessed the competences of your Key Account Managers? We have identified four training modules for effective training of Key Account Managers:
- Organizing relationship management and identifying opportunities
- Transforming opportunities into contracts
- Presenting financial added value
- Managing cross-functional teams
- Please call +44 (0) 330 9000 800 or email us to receive details on the four identified training modules for Account Managers and the whitepaper on Key Account Management: Underestimated areas of competence.
- Find out about our next scheduled Key Account Management course at London Heathrow Crowne Plaza.