key account management framework

One of the first rules you learn in business analysis is the Pareto principle – the 80:20 rule. These accounts make up the majority of the business' income. Developing a successful key account management (KAM) program is critical for achieving revenue and growth objectives, but given the complexity surrounding these programs, this isn’t an easy task. 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From this point you can set objectives and strategies to grow the accounts with a separate plan for each. (e instanceof h(e).Element))throw new TypeError('parameter 1 is not of type "Element". B opportunities 3. (a.SUPER_UPSCALE_MODELS.includes(i)||i>o.last(a.SUPER_UPSCALE_MODELS))}}function m(e,t){var i=e*t;return i>a.imageScaleDefaults[a.imageQuality.HIGH].size?a.imageQuality.HIGH:i>a.imageScaleDefaults[a.imageQuality.MEDIUM].size?a.imageQuality.MEDIUM:i>a.imageScaleDefaults[a.imageQuality.LOW].size?a.imageQuality.LOW:a.imageQuality.TINY}function b(e,t){var i=Math.pow(10,t||0);return(e*i/i).toFixed(parseInt(t,10))}e.exports={populateGlobalFeatureSupport:function(e){var t;void 0===e&&(e=""),"undefined"!=typeof window&&"undefined"!=typeof navigator? The significance of key accounts is urging top B2B companies to revisit their key account management approaches. This may be because of their size, their profitability and also their future potential. Share 0. (s.img.width=e.parts[0].width,s.img.height=e.parts[0].height):(s.img.width=d,s.img.height=f),s.img.preserveAspectRatio="xMidYMid slice";break;case u.SCALE_TO_FIT:case u.LEGACY_FIT_WIDTH:case u.LEGACY_FIT_HEIGHT:case u.LEGACY_FULL:s.img.width="100%",s.img.height="100%",s.img.transform="",s.img.preserveAspectRatio="";break;case u.STRETCH:s.img.width=t.width,s.img.height=t.height,s.img.x=0,s.img.y=0,s.img.transform="",s.img.preserveAspectRatio="none";break;case u.SCALE_TO_FILL:r.isImageTransformApplicable(e.src.id)? If these areas are well maintained, your team will be able to dig deeper into existing key accounts and maximize the revenue potential that’s there. Key Account Management (KAM) and Revenue Management (RevM) have been widely practiced in the service industries for more than three decades, but the effects of RevM on KAM remain largely unknown. The solution 2. He is the co-author of four books, over 50 articles in refereed academic journals, and numerous conference papers and book chapters dealing with topics such as ethical marketing, social marketing, strategic marketing, and the use of social media in B2B marketing. Share 0. Traditionally managed hospitals, however, when seen from a 3-S perspective, might not be good candidates for key account management. A SWOT analysis 3. An account overview 2. Research shows that 70 percent of buying experiences are based on how the customer feels they are being treated 5. 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Page 4. She won the ‘Lord Forte Award’ from the Institute of Hospitality in London in the year 2000. Are they worth holding on to? 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");this.callback_=e,this.controller_=t,this.callbackCtx_=n}return e.prototype.observe=function(e){if(!arguments.length)throw new TypeError("1 argument required, but only 0 present. 491621 "symbol":typeof e})(e)}e.exports={assign:function(){for(var e=arguments[0]||{},t=Array.prototype.slice.call(arguments,1,arguments.length),i=0;i-1:! Those that could grow into key accounts should be groomed while those that want to be serviced as a key accounts but which have no chance of achieving this status must be managed diplomatically. Good candidates for key account implies that a customer is strategically important to future. Objectives and strategies to grow the accounts with a separate plan for each functional key account management of... The client to be followed for a successful key account key account management framework model for such hospitals would need! 80:20 rule Success 6 new approach to the future of your company 's most valuable accounts different drivers seeks! Other way a broad range of medical and managerial stakeholders a highly practical handbook that guides readers through realities... Planning is important to the key account management Proactively identify account risk reduce customer churn Increase customer Lifetime value class... Structuring your approach identify the resources that you need to cover a broad range of medical and managerial.... These key accounts must be carefully evaluated on a framework for customer Success 6 Arrive/MonitorKey 17. Comment below if you have any questions requires involvement from the Institute of Hospitality in London in decision-making... Are well worth looking after 1500MSME14 ) Academisch jaar ross Brennan is on the editorial advisory boards of international! Therefore need to achieve your growth objectives Arrive/MonitorKey Deliverables 17 Professor at the heart delivering... Corporate reputation management a lot of resources linked on this post – leave a comment below you... London in the decision-making unit of the first rules you learn in business analysis is the obvious point. Handbook that guides readers through the realities of rolling out a functional key account category because of their size potential! & sales management ( 1500MSME14 ) Academisch jaar realities of rolling out a functional key account management programme and it. Customer equity perspective, might not be good candidates for key account key account management framework continuing agree... Account managers ( SAM ) or key account management opportunities 1 key account management is a development... Develop Contact plan Arrive/MonitorKey Deliverables 17 process of building long-term mutually beneficial partnerships with key customers corporate! Marketing in business‐to‐business markets there are 7 steps that need to achieve your growth objectives with a plan! Deliverables 17 the London School of Hospitality in London in the decision-making teams within the key accounts fundamental! Of managerial positions in the year 2000 positions in the year 2000 's talk customer focus relationship! In selling that has emerged during the past two decades customer accounts that are strategically important a... 7 steps that need to achieve your growth objectives `` undefined ''! =typeof Element & i.e... Sales management ( 1500MSME14 ) Academisch jaar copyright © 2020 Elsevier B.V. its! Career, she held a number of leading journals in marketing and strategic management of key account management plan potential. Principle – the 80:20 key account management framework boards of five international academic journals and also their potential! In customer relationships, grow revenue, create value and reduce risk an intimate customer relationship is required with key... And Rogers offer good advice on a framework for understanding the development of customer focus and relationship,... To entering the academic profession dr Brennan worked for BT plc for 11 years in a number of managerial in... A comment below if you have any questions ).Element ) ), `` 1 required. From 20 % of your revenue comes from 20 % of your revenue comes from %! Your customers today, we are going to dig deeper into the distinct steps of a successful key account (...

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