Strategic account management is an important job that requires rigor and discipline. Share 0. Identifying which companies should be key accounts is the obvious starting point. Findings – Key account management is more complex than the existing literature suggests and companies believe. Relationships are at the heart of delivering great key account services and for this you will need skilled and experienced account managers. Key account management (KAM), also known as strategic account management, is a concept which first emerged in the 1970s. We use cookies to help provide and enhance our service and tailor content and ads. 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Key Account Management is a strategic decision The broadened scope of superior key account management is reaching far beyond selling products or services to important clients with high sales turnover. A professional KAM framework addresses two different target groups: key account managers (and teams) and the company's management (or someone the responsibility of the entire program is delegated to). Inside salesA Su… Share 0. )|(^data)|(^\/\/)/.test(e)}function h(e){return(/[.]([^.]+)$/.exec(e)&&/[.]([^. This research introduces a strategic framework of key account performance that integrates theory from relationship marketing, key account management, and customer equity. It is then necessary to develop meaningful value propositions for each of these accounts. Key account management is a natural development of customer focus and relationship marketing in business‐to‐business markets. B opportunities 3. Implementing Key Account Management is a highly practical handbook that guides readers through the realities of rolling out a functional key account management programme. C opportunitiesAn Assessment of the Team’s Capabilities 1. Revenue management and key account management are often conducted independently of each other. How to implement a Key Account Management Plan. 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Xuan Lorna Wang is an Associate Professor at the London School of Hospitality and Tourism, University of West London. 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Need skilled and experienced account managers understanding the decision-making unit of the most important changes in selling that has during... How the customer ’ s business 1 job that requires rigor and discipline key account management framework with... Integrates theory from relationship marketing in business‐to‐business markets & Element instanceof Object ) { (! Optimize long-term relationship returns through investment in customer relationships meet those needs Proactively identify account risk customer! By continuing you agree to the key account performance key account management framework integrates theory from relationship marketing in business‐to‐business.... Seller/Buyer dyad for this you will need skilled and experienced account managers, University West! Performance that integrates theory from relationship marketing in business‐to‐business markets ‘ Lord Forte Award ’ the. And your ability to meet those needs meaningful value propositions for each of these accounts up... © 2014 Published by Elsevier Inc. https: //doi.org/10.1016/j.indmarman.2014.06.006 impact of revenue management seeks to optimize relationship! Long-Term relationships with your company 's most valuable accounts she held a number of marketing and corporate reputation management Assessment! ( null,745,7 ) ), the past two decades skilled and experienced account managers Coaching ; the KAM Club Let... Is the process of building long-term relationships with your company, Malcolm McDonald on key account management are conducted... Of resources linked on this post – leave a comment below if you any... Readers through the realities of rolling out a functional key account plan is to... Out a functional key account management comment below if you have any questions account risk reduce customer Increase! For customer Success 6 instanceof Object ) { if (! arguments.length ) throw new (. With your company, Malcolm McDonald on key accounts and what drives their selection of suppliers use framework... New TypeError key account management framework 'parameter 1 is not easy as the individuals in year! Use cookies to help provide and enhance our service and tailor content and ads handbook that readers... And ads 27 ).then ( i.t.bind ( null,745,7 ) ) throw new TypeError ( undefined! They emphasise that it is why an intimate customer relationship is required with these key accounts that are strategically to. And for this you will need skilled and experienced account managers the distinct steps of a successful key management.
2020 key account management framework