Key account management, according to the recent article How to Create a Major Account Strategy, is

more of an art, than a "formula." This article--which appeared online at saleshq--defined key
"account management" (KAM) with this quote from The Financial Times: "The art of developing
long-term relationships with selected customers."

Far from seeing KAM as a rigid, unbending plan, the article described it as a process that evolves
over time and focuses on a company's most important customers--as defined according to the
individual company's needs. How is key account management akin to an art? In 3 ways, declared
the article--

Just as writers, or painters, must discipline themselves to ply their crafts continuously--whether they
feel like it, or not--keeping up with major accounts requires the determination to stay abreast of
your company's, and your key customers', needs, changes and growth spurts.

The huge number of hours it takes to thoroughly understand key accounts--and to develop a plan
that fits your, and their, business goals--makes up the practice, practice, practice associated with the
art.

Since a true artist usually sees "what many others miss," the artistic account manager has a creative
gift for identifying major opportunities for his company--and for the customer. Take, for example, a
team leader for a leather trader who "sees" the mutual benefit in adding a major account--other
than coat manufacturers. This new customer--to the surprise and delight of your sales team--is an
automotive seat maker, who sells to luxury brands. Who, but an artist, could have "seen" the
potential in this far different type of partnership?

Just as these concepts of creativity, practice and discipline might not be viewed, initially, as
belonging to KAM, the following "elements of KAM," as described in How to Create a Major Account
Strategy, might also engender some ahh--haa's! These elements, declared the article, can be
"applied flexibly but effectively across a range of situations.":

Do you, an account manager, know exactly who your major customers are--right now? Executive
coaches are often summoned to help managers answer this very question--the question upon which
the very life of their company relies!

Do you, a manager who wants to comprehend his key accounts better than anyone, truly know your
customers' "market challenges, competitors, individual projects, fights to win new business...
(agents) who make decisions, and how...(thoughts about) how your offerings impact their business?"
--Getting back to the example of the leather trader: Were you, the account manager, aware that
your B2B partner, the auto-seat maker, was in talks to "corner" the compact-car market? You
should have been on Skype yesterday discussing how your leather products can "serve" your
partner's new, smaller-seat designs!
When was the last time you updated your short-term, or long-range plans for co-operating
efficiently with each of your key customers? "If a customer if worth being called a key account,"
observed the article, "then they are worth a plan."

Are you persuasive enough to influence all the major players in your key accounts? Can you induce
even the "technical people" at the car-seat maker to develop the kind of fasteners that easily
support your company's new, softer leather-based fabrics?

After all the identifying, understanding, planning and persuading--can you now, actually, "deliver
what you've promised". And, can you deliver it in the way, at the time, and with the quality and
quantity that your prized customer desires and deserves? This flawless delivery is, ideally, the result
of hard work by all company employees!

Finally, is "sustainable success" possible without continuous, dedicated management of your major
accounts? Just because you have a history of "delivering" doesn't mean you can rest on your laurels!
The wise account manager "arranges regular review meetings with the customer (to display the
latest leather blends), trains the account team to understand the customer better (explains why auto
seat manufacture is so costly these days)," and/or oversees complex projects (supports his team to
work with customer's design team to select the best leather types for large SUV's).

Its time for Key Account Managers to be fully recognized as the revenue defenders and engines of
growth of our organizations! If you're interested in making all this and more happen please sign-up
for the BETA of Kapta's Key Account Management Platform here.