Who is this? A key account manager is a top specialist who generates the company's main profit. This is not an ordinary salesperson; the range of his job responsibilities is much wider.
What does he do? A competent specialist does everything to make key clients feel as comfortable as possible. His responsibilities include negotiations, strategy development, and customer retention.
The article explains:
Who are key clients?
Key Account Manager Responsibilities
Briefly about the mom database responsibilities of a Key Account Manager
Difference Between Key Account Manager and Sales Manager
Key Account Manager Skills and Abilities
Where to Find a Good Key Account Manager
Sample pool of interview questions for the position of Key Account Manager
How to Become a Key Account Manager
7 Common Mistakes Managers Make When Working with Key Clients
Key Account Manager Frequently Asked Questions
5 Scenarios for Using Neural Networks to Increase Website Conversion by 40%
Download for free
Who are key clients?
According to the Pareto law, 20% of customers account for 80% of the profits received. In this regard, the activities of the sales department of any company are focused on attracting this small category of buyers, which provides the greatest income. These so-called key customers are of particular interest to the company. Why should all employees pay special attention to this audience?
Key clients
Source: shutterstock.com
The main reason is that properly organized work with key clients is an important factor in the continuous and successful development of any company:
Key clients guarantee consistent high profits.
Unlike most consumers, relationships with key customers are long-term and cannot be broken unexpectedly.
Working with this audience allows us to sell more products and prevent sales from falling. And, above all, this is the only reliable way to achieve market stability.
The bulk of key clients are influential and rapidly growing organizations that allow us to judge the current state of the market. By focusing on their requests, we can form a development strategy for our own enterprise, set new goals, and ultimately, comply with general trends.
Key clients are characterized by many business contacts, which means that with their help the company can disseminate information about itself among market participants.
Finally, it is worth noting another extremely important point in working with the audience in question. As the practice of running a large business has shown, it is more logical and effective for an enterprise to give preference to interaction with key clients than to spend significant resources on establishing new relationships.
Read also!
"Sample proposal for cooperation: just follow the instructions!"
Read more
It follows from this that key customers play a major role in the organization's activities, but at the same time there are certain nuances here. First of all, in an effort to earn the trust of such consumers, the company must take into account that other enterprises in the industry will also strive for this and will try to attract attention with special offers and promises of privileges.
That is, in relations with key clients, the company must surpass competitors and ensure that these consumers are completely satisfied with the cost, quality of products and level of service. The peculiarity of key clients is that they are extremely demanding when choosing suppliers for their business.
Currently, a special position is being introduced to interact with these partners – a key account manager (KAM). He has a great influence on the development of any business and performs many important functions.
Increase Your Profits by 10X: 5 Key Metrics You Must Track
Alexander Kuleshov
Alexander Kuleshov
General Director of Sales Generator LLC
Read more posts on my personal blog:
After working with over 300 online projects , I can guarantee: monitor these metrics weekly and your company will not only survive, but also increase its profits by 10 times!
In the context of sanctions and crisis, knowing the ROI of your advertising decides whether your business will be successful. Tracking these 5 critical indicators is the key to your prosperity.
What you get for free:
5 Key Metrics to Increase Profits by 220%
The Secret ROI Formula: Instant Advertising Efficiency Calculator
Anti-crisis Solutions Matrix: Find the Perfect Strategy for Your Business in 15 Minutes
We have prepared all the documents and templates with formulas for you.