BNET Business Dictionary
Business Definition for: Key Account Management
- the management of the customer relationships that are most important to a company. Key accounts are those held by customers who produce most profit for a company or have the potential to do so, or those who are of strategic importance. Development of these customer relations and customer retention is important to business success. Particular emphasis is placed on analyzing which accounts are key to a company at any one time, determining the needs of these particular customers, and implementing procedures to ensure that they receive premium customer service and to increase customer satisfaction.
Additional Resources
- Key Account Management
- This paper examines thoroughly the procedures and factors that have to be examined by the selling companies in order to establish successful Key Account Management KAM practices. The paper analyzes and discusses the different aspect of key account management and, based on the literature examined, offers some insights of the...
- White papers 2007-03-27
- Unpicking the Meaning of Value in Key Account Management
- This conceptual paper explores the meaning of value within the context of Key Account Management KAM. It briefly presents the emergence of Key Account Programs, identifying that they have not traditionally been linked to the notion of value. We go on to present value as it is currently explored in...
- White papers 2005-02-01
- Key Account Management: Marketing And Sales Excellence
- In sales parlance, account refers to a client being managed by a sales agency. Account management involves active interactions with the customers with a view to analyze their changing tastes and preferences. The responsibilities of a key account manager include initiation of the account, setting objectives, and planning strategy. The...
- Presentations 2003-01-01
- Key Account Management: Shortcomings And Limitations
- Key Account Management is one of the four components of customer relationship management along with customer lifetime value, customer portfolio analysis and the relationship lifecycle. Key Account Management is defined as an appropriate relationship management mechanism that utilizes the value of trust in business relationships to achieve functioning relationships with...
- White papers 2008-01-01
- Business Case: Optimizing Key Account Management by Means of Social Network Analysis (SNA)
- This paper displays the case of a client that is a European player in the software industry. The case focuses on strategies and measures taken to access new clients via already existing customers in saturated markets snowball marketing. It demonstrates how key-account and sales activities were optimized by means of...
- White papers 2005-05-30
- Focus: Improvement in Key Account Management Solution - Major Account Management (SMARTS)
- Dell Computer is a key manufacturer of desktop PCs. Dell Computer identified that they needed outside assistance in developing more "value-based" selling skills. The Chapman Group TCG was engaged initially to work with the Federal Systems Group to improve these sales skills. A "team-based" approach to serving the major accounts...
- Case studies
- Eight Keys To Unlock Key Account Management
- Key Account Management is enjoying resurgence as suppliers look for new ways to increase sales and profitability. Many suppliers have come to realise that certain customers must be treated somewhat differently from the average customer. However, it is one thing to recognise that they should be treated differently, it is...
- White papers 2007-02-22
- Moving from Selling to Account Management
- To succeed in key account management, sales staff need to change their role and their objective. Instead of pursuing short-term profit, they must concentrate on managing customer relationships and understanding the customer's whole business. Account managers have two important roles—account support and account development. Successful account management requires a wide...
- Articles 2007-10-19
- Improving Relationships with Key Accounts
- In business-to-business marketing, account relationships are essential to long-term success. Key account programs give companies the opportunity to contact their customers at regular intervals and build relationships. To manage the process effectively, it is important to take a long-term view of the relationship, rather than focusing on short-term goals. It...
- Articles 2007-12-05
- Managing Key Accounts without Allowing Them to Manage You
- 80% of a typical business's income comes from just 20% of its customers. So does it make sense to dedicate time and resources to keeping that 20% satisfied? Absolutely! But satisfied may not be enough. You also need to ask yourself, "How can we better serve the needs of our...
- Articles 2007-10-16
- Account Management: Art Or Science?
- From the executive summary: ‘In many companies, the science of account management is neither well understood nor systematically applied. In high-performing companies, on the other hand, the science of account management is the centerpiece of the sales process. The science of account management has four key elements viz. profitability management,...
- White papers 2004-08-02
- Should Senior Managers Be Actively Involved in Sales Account Management?
- This article discusses whether senior managers should become actively involved in sales account planning and management. The article argues that senior management have a lead role to play in effective account management, not just in conducting sales account reviews, but also in playing an active part within the key account...
- White papers 2004-11-01
- Metric-Based Account Management
- Metrics are the specific checkpoints within an account rating system that "drive" account servicing strategy and tactics. This article discusses the formula of metric based account management leading to success and measures necessary in achieving the daily key account servicing challenges. It focuses on the importance of Account Rating System.
- White papers 2005-05-03
- Strategic Account Management: How Account Leaders Build Alliances With Key Clients
- Global competition is forcing companies to rewrite the rules of doing business. As companies seek innovative ways to increase competitive advantage, a new discipline has emerged: strategic account management SAM, which enables suppliers to build strong ties with their most valuable clients. Unlike conventional selling, where competitors vie on a...
- White papers 2003-03-01
- New SmartAnalysis RM Provides Total Control of Multiple Corporate Banking Relationships; Module Enables Global Editing of Signature Authority, Other Key Account Details
- OWINGS MILLS, Md. -- Chesapeake System Solutions, Inc. announced today the release of a powerful new software module for its widely using banking relationship management package SmartAnalysisR that will allow treasury managers an unprecedented ability to organize the dozens or hundreds of bank accounts that many companies use over the...
- Research articles 2005-06-23
- Explaining Supplier Behavior On Global Account Management
- Using globalization and contingency theory, this article develops a supplier-based model of global account management GAM. The model comprises the multinational supplier's industry globalization drivers, the multinational customers' extent of globally coordinated buying, such customers' demand for GAM services, the supplier's response in terms of using various aspects of GAM,...
- White papers 2002-10-28
- i2 to Present Key Solution Offerings for Consumer Goods Companies at Upcoming Consumer Goods Technology Conference
- Attendees Can Learn More about i2 Solutions for Total Channel Management Including Key Account Management and Demand Signal Repository Capabilities
- Research articles 2008-06-05
- Managing Key Relationships; Key Account Management
- Businesses will increasingly be less able to sustain revenues and maximize profits unless they adopt specialized relationship techniques to maximize their intimacy with their most important customers and business partners. This article explains how managing key relationships, a practical program addresses commonly occurring issues of low levels of customer responsiveness,...
- White papers 2003-07-08
- Sales Account Management: The Competitive Edge
- The paper outlines that providing sales force with key account information has never been more important. To stay ahead in a fiercely competitive market, field sales representatives now need to perform many functions per visit. These include compiling in-store merchandising data, reporting competitive activity, monitoring shelf standards, measuring product performances...
- White papers 2004-11-15
- Investec Asset Management Selects FDI to Provide Sales Services
- Business Editors BOSTON--BUSINESS WIRE--Jan. 29, 2001 Funds Distributor Inc. ("FDI") will provide a focused sales program for Investec Asset Management ("Investec") and the Investec funds, targeted initially at Merrill Lynch financial consultants. FDI will provide dedicated inbound and outbound telephone sales representatives, key account management, database development and...
- Research articles 2001-01-29
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