Managing Key Accounts
Some obvious prerequisites to delivering this are a well-honed understanding of the customer’s own business strategy; their demonstrable commitment to your business propositions; effective relationship management at each interface point; a set of mutually agreed measurable objectives across both organisations (to use the sales vernacular “a reverse bow tie relationship”.
Effective key account management brings not just top line benefits but also improved operational and manufacturing planning efficiencies and hence real improvements to both business margins and profitability.
Part 1 (building blocks)
- Introduction and Objectives
The focusing of the programme and setting of the scene to gain the ‘buy-in’ of the participants.
- The Principles of Account Management
How the 80/20 rule applies and the use of the ‘Lanchester Strategy’ for information gathering, concentration of effort and go / no go decision making
- The Different Perspectives of Account Management
The ‘tightrope’ to be walked in relation to balancing the needs of the customer with the needs of the organisation
- Key Account Selection Criteria
The introduction of a profiling tool to identify ‘best fit’ Key Accounts based on your value propositions including a ‘league table’ scoring device
- Key Account Information
The introduction of a series of tools and structures that help us to build our understanding of what’s going on in the customer’s world, your competitive position, the decision making process and the actions required to increase your information base t/w the actions required to improve our position
- P.E.S.T.L.E and the 4 Ps (The customer’s business strategy)
- The Customer’s Level of Need Awareness
- SWOT Analysis
- Relationship Assessment
- Managing the Decision Making Process
- Actions for Focus Workshop preparation
Part 2: (Focus Workshops)
- Reminder of SISTEM rationale
- Progress review of each specimen account
- Account team established
- Information gathered
- Strategies moving forward using the tools introduced
- Action planning
- Personal support required
- Team communication and CRM implications
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