Key Account Management

At some point in time, many company leaders have looked at their list of best clients and thought it could be a disaster to lose any of these. They probably represent a significant percentage of revenue, many could be giving them even more business, and they maybe regularly refer new customers as well.

Maybe you have some too? So how do you protect those customers from your competitors who almost certainly have them on THEIR prospect lists?

The answer could be to develop a Key account management program, usually abbreviated to KAM, that's spelt K A M. It's a process at the organizational level that goes way beyond sales to encompass building strategic, and mutually beneficial relationships between the company and its key customers.

However, key account management programs will almost certainly lead to increased costs and lower margins. That's the inevitable outcome of giving a customer greater support and usually your highest discounts. But - if you use the right key account strategy, you'll reap greater sales volume and long-lasting strategic relationships.

Some of the following videos in this section will be of more interest to Senior decision makers. Others will be of equal interest to both SDMs and the personnel employed in delivering the program - the key account managers.

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