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In this podcast, John Bailey (Hiab), Armelle Dupont (Vetropack) and Diana Woodburn (AKAM) talk about how and why key accounts are chosen, and why some major accounts don’t make the cut. Key strategic accounts should be selected for their potential and willingness to partner, allied with their strategic fit with the supplier. But suppliers need…
Ask six people what KAM is and you’ll probably get six different answers, albeit with some common threads and themes. In contrast, AKAM is clear about what Key Account Management is, what a key account is, and what a key account manager is. This statement also identifies critical elements of KAM which means you can see when and where it is really happening,…
How do you know if you are doing the right things? KAM can deliver exceptional levels of growth for organisations, but to achieve it requires focus, investment and ongoing support. To maintain this backing, KAM needs to demonstrate strong progress in areas that link to the organisation’s goals and to paint a rich picture of opportunities. In…
For Marco Reijntjens from Tenacity Europe in the Netherlands value lies at the centre of retention in service businesses. As services are intangible, their value depends more on the customer’s perception than does the value of products. The perception of value erodes with time unless the supplier is very vigilant in creatively renewing it the eyes of their…
Customer Lifetime Value and Customer Profitability Companies – and Key Account Managers – must consider the long term profitability of their key accounts. Anything less could be considered a dereliction of duty to their shareholders. Ability to deliver differentiated value to the customer determines how successful you will be. Because if the customer does not…
Metrics are predictors: they provide key insights and calibrations to a cross-functional team on performance, value, adaptability, and alignment to accounts and markets. They enable organizations to take the right actions now and institutionalize excellence. In this article Denis Chapman proposes 5 key metrics and 7 tips for implementing a metric-generating approach, plus a litmus test on…
Some people think Accounts and Key Account Management are part of the same thing – it’s unfortunate that the same word is used in these very different senses. Nevertheless, there should be a link between your Accounts Department and KAM, and here Dominykas Cibulskas of SIA ZB explains what that is. We’re all in business, the…
No companies have unlimited resources, and even if they do, they still consider carefully where to apply their time and money to get the best return. Financial arguments can be and should be applied to key accounts as much as to any other funding decision. This approach shows you how to calculate the Net Present Value (NPV)…
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