Top tips to help you protect and grow key accounts by Chris White, Marketing and Business Development Consultant, EMC.
Most companies have a group of accounts that are considerably more important than others. They’re the ones that generate the lion’s share of revenue…and, hopefully, profit. They need to be given special attention, have their risks managed and opportunities optimized – a proper dose of TLC. This often means developing a Key Account Management programme.
According to a Strategic Account Management Association (SAMA) survey, companies with well-developed KAM programmes have a 43% higher customer satisfaction score than those without. The research also showed that many KAM programmes are based around clients where the supplier’s share of wallet is as low as 10-25% - so there’s a lot to aim for.