Key-elements in strategic account management

Key-elements in strategic account management

For companies that sell services and solutions to other companies (B2B), the successful management of strategic account is essential. These companies face many challenges in this respect, but also in terms of improving the performance of strategic accounts.

One of the most important challenges is putting together efficient sales teams that build business relationships and sell integrated solutions. Then, it is important to manage these strategic accounts, which involves creating a list of priorities that include the results achieved and the expectations of the strategic customers. Delivering results that respond to specific, well-identified needs can help strengthen the relationship, earnings and profit margins of a strategic account.

Building strong business relationships

The business relationship with a strategic account can cover a wide spectrum, from services supplier to the strategic consultant. During this time, a service and solutions provider may be a preferred supplier, solution provider, or trusted partner. In other words, the quality of the relationship is desirable to evolve from a purely tactical role to a strategic one.

An account becomes strategic when the business relationship that builds the value chain escalates from the provision of a single, isolated service to a range of complementary services / solutions. In the case of a strategic customer, the sale process is simpler because the trust relationship is solid.

Increase of strategic accounts

The experience of PKF Finconta tells us that there is a need and an opportunity to increase the quality of strategic accounts management.

  • On the external side, building the business relationship with top executives, but also a successful track record, are important qualifying factors as an integrated solution provider.
  • Inside the company, increasing motivation by setting goals, metrics, and rewards, as well as regular team meetings, are opportunities for increasing the team cohesion.

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