Key Account Management is about identifying, analyzing, and building strong relationships with clients or accounts that are most important to the success of the organisation.
Key account management is much more than traditional selling. It involves creating close, mutually beneficial relationships. To effectively manage and develop key accounts is of utmost importance to the health and longevity of every organisation.
Your key accounts are clients that represent a larger percentage of your revenue, continuously refer new prospects to your company or give you credibility in their space (and more!) But how do you protect those customers from the competitors who are no doubt trying to lure them away?
The answer is simple: Key account management.
Key accounts are 60 to 70% more likely to strike a deal than new ones, plus spend 33% more on average.
According to a recent publication, customer satisfaction increases by 20% within a few years of starting a key account management program. Profits and revenue, meanwhile, can increase by 15%.
The challenges of growing key accounts include:
- Identifying accounts with the greatest potential for growth
- Developing strategies to grow them
- Building essential customer relationships
- Communicating the value you can bring to customers
At the same time, selling more to existing accounts is one of the most profitable ways to boost your organisation’s revenue.
Quality key management programs offer managers a valuable and realistic analysis of market realities and provide candidates with valuable industry perspectives. Achieving a competitive edge requires investing in your management team.
What will set you apart?
By taking one of our key account management courses, you will learn how to strengthen your relationships and protect accounts from business competitors.
At the center of increasing accounts is finding added value you can offer to consumers and communicating this value. You will learn how to lead a systematic and repeatable process for driving customer value. You will also learn how to identify the right accounts with the greatest opportunity for growth. By implementing an effective key account strategy, you create opportunities for both you and your clients to sustain and grow your businesses—as well as opportunities to bring in more revenue.
Are our key account management courses for you?
These courses are ideal for you if you are an account manager looking to gain knowledge to enhance the profitability of the accounts you manage. This course will give you the necessary skills to create long-lasting customer relationships. You will be able to ensure customer satisfaction, repeat sales, and also be open yourself and your organisation up to cross-selling and up-selling opportunities.
Key account management courses are valuable for managers and directors intending to implement a key account management strategy within their organisation. They are also designed to help those responsible for managing in-person relationships with clients that have a significant impact on achieving the organization’s business objectives.
Management is not a straightforward, linear activity; rather, it involves skills that can be learned and developed. Effective management ensures that existing business processes are the best processes for the function, how to develop more efficient processes, and that these are then done effectively.