Why invest energy and time in Key Account Management Training?
“It costs 6-7 times more to acquire new customers than it does to retain existing ones.”
Availability of options, decreasing customer loyalty, higher expectations, and constant competitive threats are making foretasted business from your best customers anything but a certainty.
Your best accounts deserve and require consistent, strategic value creation, which requires a deep understanding of your customer’s evolving needs.
Increasing Business with Existing Accounts – A huge Untapped Opportunity
Sales professionals need key account management training that empowers them to build accounts with an intentional strategy to continuously deliver solutions that help their customers prosper.
The Breakthrough Key Account Management program develops mindset, strategy, skills, processes, and the tools to choose, develop and execute on Key Accounts.
Common issues faced, & mistakes committed by organizations : –
- Fail to categorize customers into accounts and Key accounts.
- Tend to focus solely on known opportunities
- Overlook or under-estimate customer participation.
- Customer Engagement Approach is not pin-pointed.
- Account Management Plans are created on the go.
- No concrete formalized KAM process.
- Unexpected surprises by the loss of key clients.
- Deep trust-based relationships are not established.
- Lack of enterprise-wide Collaborative touch points.
- Relationships die/weaken due to Manager/Sponsor turnover.
- Unable to positively & VISIBLY impact customer profitability.
Benefits of finishing the Key Accounts Program / Intervention :-
Choose the right accounts-
- Prioritize key opportunities to win.
- Select accounts with the greatest growth potential. Identify low potential accounts.
Improve Communication, collaboration, and nurture client relationships.
- Build solid relationships with customers using Emotional Intelligence, personality science and factors of Trust.
- Create open channels of communication with their customers across the ORG, collaborating for win-win outcomes.
- Lead sessions internally and with accounts for value discovery, connection, and co-creation
Plan and Manage the Account-
- Develop 6 Months to 2 years Road map.
- Define key strategic milestones and timelines.
- Allocate your people and resources to build and support lasting customer relationships.
- Build a key account management team.
- Collaboratively lead cross-functional teams with clarity on roles, responsibilities & accountability
- Course-correct KAM strategy and plans.
Mitigate Unexpected Client Turnover
- Uncover gaps in expectations and actual experience.
- Account managers learn to address potentially negative customer sentiment, avoiding unwanted and unexpected client turnover.
- The program is customized for various organizations.
- The public workshop has standard 5 virtual sessions.
- Assess current KAM maturity.
- Criteria while choosing customers as Accounts and Key Accounts.
- Institute a tactical plan to accelerate penetration – Lateral & Vertical.
- Integrate Industry specific best practices.
- Manage resources efficiently & timely.
- Onboard a winning KAM team.
- Action Plan to reduce price sensitivity & force-block the competition.
- Steps in managing customer’s perception of business relationships.
- Understand personality & emotions of self to increase personal impact.
- Understand stated, and unstated needs of Key Stakeholders.
- Identify, co-create & market a shared vision (targeted value) between buying & selling organizations.
- Build credibility and trust-based relationships.
- Identify internal strategic changes/initiative for better alignment between you and the Key Account.
- Earning a “seat at the table” as their Trust Advisor.
- Execute SAM/KAM plan effectively.
- Share and leverage winning practices for account development across your organization.
- Review and refine KAM.
- Pre-work and assessments.
- Virtual Sessions (Classroom sessions only post COVID).
- Practice and actual account assignment post each session.
- Templates, Tools & Cheat sheets.
- Case Studies &/or Business Case Simulations.
Who should attend?
Any member of the organization involved in account management. This includes sales and sales management.