14 Tips for Managing Your Key Accounts
Whether you want to make the most of your existing key account relationships, or wonder where to find new customers for key accounts and win. The platinum phrase, becoming a trusted advisor / partner, is a communication quality, “he writes, Syl Cotter of the Sales Institute.
In our experience, communicating with clients – and indeed all individuals inside and outside your company – is average and subjective, or rather directly dependent on the partner’s communication style. This does not tend to stimulate the customer / sales target, force him to ask for more information, or ask for help to solve one of his problems. If companies are still in the “negotiation phase” of the potential relationship with a key account, the lack of communication quality will make it difficult to distinguish your business from other predecessors / suppliers. If you can not provide high-quality communication, your key / target accounts can not help provide high-quality answers.
Here are some tips for improving your account management process:
Arrange for a corporate-wide account categorization protocol. Typically, these could be:
Important development accounts
Cash Cow accounts.
Make sure you have measurable criteria behind each category.
Arrange an enterprise-wide internal communications protocol to ensure multi-functional entries / updates on the progress of the accounts.
Implement measures to monitor and measure compliance as part of your account management process.
Identify a person who develops and updates your organization’s account management database (you must periodically review it to verify quality).
Get an organizational chart for each of your key customers.
Perform a SWOT analysis on key development accounts.
Identify key influencers in decisions within the account.
Get a clear picture of the hierarchical structure and the decision-making chain of the account.
Keep up-to-date with the latest press releases. The more you know, the more likely you are to keep your account and turn it into a true partnership.
Create opportunities such as invitations to social events and conferences.
Help the key members of the account behind the scenes.
Ask your organization’s management to build relationships at various levels and in different departments of the customer enterprise.
Make detailed forecasts and have monthly meetings with your partners to review the responsibilities of key account managers.
Keep in mind that account management is critical and must be a priority for the company’s management, not just the partner who owns the account.