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Key Account Management
Key Account Management
is an approach which includes developing long term relationships with strategic customers whose needs you understand in depth, and for whom you develop a special offer with a differential advantage over the offers of competitors.
Market Conditions : downturns typically result in less new customers and a need to offset the reductions through existing customers Customers : the size and nature of a customer may require the allocation of a KAM to manage them to ensure satisfaction. Switched on management : customers have cycles both in terms of business and employees KAM reduces the likelihood of a solution being removed by a competitor at a later date.
Benefits:
Greater customer satisfaction Higher customer retention Stronger customer relationships Better managed customer interface Higher barriers to competitor entry