With competition holding on to key accounts and the challenges thereof in breaking into such accounts, Key account management techniques come to the fore. The account manager must expend more of his quality sales efforts on 20% of his accounts – most of which would be key accounts, to achieve 80% of his sales.
Key account management pre-supposes that the sales-person is already good in conventional selling. Since conventional sales techniques do not necessarily work for key accounts, a strategic analysis combined with a higher level of maturity is required. Key account managers must be in sync with market dynamics and be able to link these dynamics with their strategy. Key account management includes sales but also includes planning and managing the relationship between a business and its most important customers.
Hospitality Paradigm’s two day program on Key Account Management is applicable for senior sales executives and managers, will address these issues to help sales managers focus on the strategy and tactics of handling large accounts or complex high value sales.