This course is designed to transform participants into business advisors and high yielding and profit generating relationship managers whom clients rely on and companies value. The course shows participants how to build long term, value based relationships with large accounts, penetrate them for additional business, and maximize the revenue they generate while reducing the time and costs in managing them. The course also provides a strong focus on quantitative approaches to account qualification and account planning best practices.
Course Methodology
The course includes self assessment tools, planning and analytical templates, and psychometric self assessment instruments to measure personal abilities to accommodate different personality styles. Group exercises and case studies will also be integral parts of the training methodology used.
Course Objectives
By the end of the course, participants will be able to:
Define the functions of key accounts and their importance for the commercial organization
Identify and prioritize key accounts to measure their profitability and qualify their strategic importance for their company
Classify the different levels of customer relationships to enhance the way they interface with customers
Develop customer focused plans and strategies needed in the development of key accounts
Build core key account competencies to meet the ever changing challenges in the market
Target Audience
In addition to key account managers and sales managers, this course is targeted at cross functional personnel who seek to understand modern customer management practices to improve cross functional support and develop personal careers in key account management.
Target Competencies
Account planning
Sales forecasting
Networking skills
Cost to serve computations
Account classification models
Presentation skills
Time management
Relationship management
Course Outline
Key Account Management (KAM) defined
The changing nature of sales force activity
Definition of key account management
Criteria for qualifying Key Accounts (KA)
Strategic accounts versus key accounts
Objectives of KAM
Managing customer profitability and Customer Relationship Management (CRM)
Definition and goals of CRM
The value of loyalty
Acquisition costs and life time value (LTV)
Account analysis: defining and selecting KA
KAM: best practice actions
Account analysis insights
Account analysis methods
The single factor models
The portfolio models
The decision models
Important 'KPIs' for KA qualification
Computing the cost per call
Break even sales volume
Result based simulation
Key account relational development model
Business partnership defined
The partnership skill set
The KA relational development model
Pre-relationship stage
Early relationship stage
Mid-relationship stage
Partnership relationship stage
Synergetic relationship stage
Reasons for divesting partnerships
The KA quiz
The Key Account Planning process (KAP)
Two layers of planning
Prioritizing efforts
Important business analysis
Customer analysis
Past business analysis
Competition analysis
Identifying opportunities
'SWOT' analysis
Developing account strategy
'TOWS' analysis
The critical role of key account managers
Understanding the role and responsibilities of key account managers
Harnessing daily to-do-lists to optimize sales productivity
Identifying and working with different personality styles