What is Key Account Management (It's Not What You Think)

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