What is Key Account Management Its Not What You Think

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If you're not sure what key account management is, don't worry, you're not alone. It's a difficult concept to nail down and often misunderstood. So let's answer what it is, what it isn't, and how to do it well. • 🔖 CHAPTERS • 00:00 Introduction • 00:31 Definition of key account management • 01:03 Key account management origin story • 02:24 How to identify key accounts • 03:23 What does a key account manager do? • 04:10 Why key account management takes teamwork • 05:30 What key account management is not • 06:29 Conclusion • --------------- • Key account management is the process of allocating and organizing resources to optimise results from a portfolio of accounts with the best opportunities to contribute to business goals. • In other words, to make money, spend more of your time and resources on the clients with the best growth potential. • You might think your biggest accounts or your most complex accounts are your most valuable customers. • But you'd be wrong. • Key accounts can be big or small, local or global. They can be strategic or opportunistic. • Why? • Because what makes a key account is its future value. Not what clients spend today, but what opportunities may become available tomorrow. • Do you have clients that have these qualities? • GROWTH • Clients with opportunities to expand revenue, improve margins and reduce the cost to serve. • HARMONY • Clients who are a good fit for your solution, and you meet their needs better than other suppliers. • VALUE • Clients who consider you a strategic partner and want joint success. They know you give them an advantage they couldn't achieve alone. • If you do, they're good candidates to become your key accounts. • • ⭐ • Warwick Brown • Founder | Account Manager Tips • NOTE: The video and description may contain affiliate links. If you click on a link, I may receive a commission. Money earned helps to support my channel. • --------------- • ⏯ SUBSCRIBE • Account Manager Tips helps busy key account managers get results by turning plans into action. If you liked this video, subscribe at https://amtip.co/subscribe • --------------- • 💡 THE KAM CLUB • A private learning community helping busy key account managers get results. Find out more at https://thekamclub.com • --------------- • 📚 RESOURCES • Read the full blog post • https://amtip.co/whatiskam • --------------- • 👋 CONNECT WITH ME • 📍 LINKEDIN: / warwickabrown • 📍 FACEBOOK: / accountmanagertips • 📍 PINTEREST: / warwickabrown • 📍 INSTAGRAM: / warwickabrown • 📍 TWITTER: / warwickabrown • --------------- • 📞 CHAT WITH ME • Grab an obligation free call to chat about key account management and learn more about how I can help you at https://amtip.co/chat • --------------- • 🔗 ABOUT ACCOUNT MANAGER TIPS • Helping organisations grow client revenue, reduce churn and get things done by giving their account management teams the tools and the mindset that gets results. • https://accountmanager.tips • --------------- • #amtips #keyaccountmanagement

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