Selection of a key account management team is everything in any business. In the platform of key account management, one of the very critical components is to maintain the customer relationship with a system, tanning sessions, skills, and processes. Selection of a key account management team totally depends on the assumptions and emotive decision making. We all know that key account managers are salespersons who are involved in generating profitable revenue quarter to quarter for their organization, on the same platform they the one who assigned relationships separately on the asset of customer portfolio. Well, true key account managers are all rounder’s on their platforms, they continuously work to increase account share. They are involved in managing account relationships and long-term financial growth. Here we will discuss the common mistakes to be seen in key account management.
Easy sell accounts: As every organization is aware that the salesperson or agents have the habit of considering easy sell as key accounts. These types of account generally are not to be considered as the right key accounts because they never help your organization grow strategically or have the right potential to achieve company’s target. Just because the customer order in a big volume that doesn’t mean they the only one. It is not the right way to manage key accounts.
Strategic big customers: Many of the times customers demand a big volume from the organization and they can’t help them out but consider for a key account. but do remember that the customer only asks for the volume when they know and consider as key accounts despite the big quantity of product they ordered when your organization get the less revenue from the ordered deal. These issues somehow make differences in-betweens the account relationship.
Successful factors for key account management:
- As a business partner ensure your customer to show a professional image of your company.
- On the basis of growing business, secure your relationship with the customer for long-term.
- Discuss the new opportunities that can exploit account growth of the company.
- Move forward to take feedback from the company’s senior management team on the long-term growth.
- Try to satisfy your customer with their requirement by delivering total resource in a satisfactory method.
- Remember complies solutions must be technically solid and based on a proper understanding.
- Understand customers plan, strategy and move direction.
Well, as per the company requires the entire key account management system has to work and take care of the clients too. These above mention points will surely help you in opting for the right one and avoid making silly mistakes. Always be clear about what you are looking for, how to manage and generate perfect revenue for your company and management of finance too. An effective account management strategy totally depends on selecting account intelligent, consistent, and flexible in working with accounts as well customers too. Also, they implement entire plan and strategy in disciplined, effective and efficient manner.