Why is Key Account Management important?
Not every business needs a Key Accounts Management function or team but many more are finding they do. Why? In recent times we are witnessing a distinct shift to Key Accounts Management with five major events fostering the development of key account management as a crucial business function.
- Market maturity
- Increasing cost of sale
- Customer / client negotiating power
- Pressure on margins
- Increased local, regional and global competition
In particular, Customer Power has changed the game. We are seeing big customers getting bigger and at the same time they are rationalising their supplier base. Buyers are becoming much more knowledgeable and more sophisticated and are demanding tailor made solutions. This is increasing the cost of serving customers so buyers and sellers are developing new ways of working together.
The dramatic changes in the market, driven by 5 key influencing factors – maturing markets, increased cost of sale, stronger customer buying power, pressure on margins and an increase in competition (global, regional and local) – has resulted in organisations having to rethink the way they capture, retain and manage their larger customers.
So, is your business ready for Key Accounts Management?
Key accounts management is the process used to identify, ring-fence and service these customers ensuring that buyer receive optimal value whilst the sales organisation secures its profit margins.
Who is it for?
Competitive Selling Strategies – our powerful key accounts management program has been specifically designed for the more experienced executive who is charged with developing and managing key and strategic accounts in the organisation’s portfolio.
Competitive Selling Strategies works because…
- Based on sound business and sales strategy theory underpinned by doctoral thesis and validated by 100’s of businesses and 1,000’s of sales people around the world, it is practical program and provides real hands-on experience for participants
- No other program on the subject teaches how to develop and deploy sales strategy
- It is fully customised around the unique key accounts environment, goals and objectives of our clients
- It is fully comprehensive taking account managers though the entire process from identifying to ring-fencing key accounts
Using real accounts in the organisation’s portfolio, this 2 + 1 day workshop is practical and takes account managers through the process of learning to identify those customers who are prepared to partner with the company.
Learning to apply a range of offensive and defensive sales strategies, account managers develop the skills and techniques needed to understand different decision-making processes and the people involved in them, and then to define true Customer-Driven Value so that the key account becomes a willing, rather than a hostile partner in the buy – sell process.
Competitive Selling Strategies will provide account managers with the skills, techniques, and tools to define key accounts, assess the viability of opportunities and determine the strategies needed to ensure that a) accounts are locked in and that opportunities are won at maximum value to both buyer and seller.
Included in the program is Barrett’s unique electronic key account plan – a tool that helps account managers identifying their position in a key account or with a specific opportunity and the optional strategies available to the account manager based on the position held.
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