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Strategic Account Management
How best can a sales person manage and develop their key accounts to maximise profitable growth?
Strategic Account Management is an approach to clients that focuses on developing a mutually beneficial relationship with a company’s most important customers.
Your key account strategy needs to be properly planned. Have you actively identified your key accounts or is this something that you have just let evolve?
Successful strategic account managers must first identify the key accounts that are worth the additional effort. These accounts are those which have significant spend and are profitable to the business, or have the potential for growth (be careful not to assume that the current largest customer should automatically be regarded as a key account). Key accounts need to be willing to show a long term commitment to the company and be open to building multi-level relationships, and developing a real partnership. They must be financially stable and able to purchase a range of products and services, and therefore are strategically important to the company.
Key Areas
- Identification of Key Accounts
- What does Strategic Account Management involve?
- Setting Strategic Goals
- Customer Intimacy
- Conclusion
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