Key-elements in strategic account management

Key-elements in strategic account management

Consolidation of strategic account management

Recommendations for initiatives to strengthen the strategic account management team:

  • Defining clear goals for the team, setting quantifiable indicators, and a reward system for outstanding performance
  • Implementing a quarterly agenda for account team activities, correlated with the weekly agenda, as well as an agenda for holding client sessions with the account team
  • Continuous updates of the team with industry trends and customer point of view
  • Involving as many account team members as possible in the meetings with the account representatives
  • Securing the permanent participation of the client in the working sessions, by increasing the support of the account manager coordinator
  • Quarterly verification of the performance of the team managing the strategic account and identifying solutions that minimize / eliminate the deviation from the set objectives.

In conclusion

In a strategic business relationship with a company, the provider covers a wide range of services delivered to a specific account. The top management of the client company consults with the account team before important initiatives. Therefore, strategic client leaders regularly join the service team in working sessions to discuss their challenges and plans for the future.

Because there is potential for expanding the range of services offered, it is a good idea for the entire account team to be present at each meeting. Increasing the revenues generated from a strategic client is more accelerated than in the case of a regular client and above the average customer profits in the pot. Thus, a strong business relationship with a strategic client means lower costs with the sales process, a significant increase in profitability, and a three-times faster revenue growth.

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