Key Account Management in Sales

What is Key Account Management (KAM) in Sales?

Key account management (KAM) defines full relationship between your business and the customers you are selling to. It describes the individual approach of sales people to their customers in order to create long everlasting business relationship.

Key account management (KAM) means far more than just selling products to big customers. It revolves around handling the customers who play a strategic role in the growth of a supplier.
– Alex Short

At some point, most company leaders have looked at their list of best clients and thought, "It would be really bad if we lost any of these accounts." These customers represent a disproportionate percentage of your revenue, refer new prospects to your company, give you credibility in their space or all of the above.

In that in B2B sales we’re dealing with multiple individuals, its good to record pertinent facts about decision-makers within the account that you’re dealing with.

You need to have an access to all this account information in order to engage with your customers effectively and systematically and grow key accounts into profitable long-term relationships.

Stpes to manage your Key Account Management:

The definition of key account management
The benefits
How to know whether your company needs a key account management strategy
The difference between key account management and selling
How to identify key accounts
Which skills your key account managers need
How to hire key account managers (including a job description template)
How to write a key account management plan
Some final thoughts on making your key account management strategy a success