The Wrong Bottom Line . . . Still: Critical Components


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Here are three key components that go into building a strategy to provide seamless, omnichannel experiences that profit the business. Toggle navigation. White Paper. Company Name NetSuite. Phone Contact Brenda Whisenhunt.

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What's business acumen? It's the understanding of how a company makes money. A KAM should develop dynamic business acumen. With this knowledge, they'll be able to solidify their position as a trusted resource and advisor for their clients.

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In addition to having business acumen, key account managers should have an analytical mindset. Their analytic skills will help them create and present business cases.


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They need to be able to think quickly and apply their knowledge to a variety of different clients and markets and be confident when presenting the information. The core role of a key account manager KAM is to handle the most valuable clients. They manage the account, build strong relationships with the client, identify challenges or opportunities, and find ways to assist with these challenges and opportunities.

A key account manager KAM is responsible for managing and building a strong relationship with large clients that make up the majority of the business' income. Not only do KAMs find ways to address the client's challenges and opportunities, but they also create and present reports about the client's progress to key stakeholders. This role is important because it helps us keep our most important customers and ideally, find even more opportunities for working together. As our key account manager, you'll play a critical role in client retention and revenue growth. According to RAIN Group , the biggest difference between high performing companies and everyone else is an effective account planning tool.

A key account plan helps you identify the greatest possibilities for growth, potential roadblocks, threats from the competition, and more.


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  • Map out every customer stakeholder. This information will help you figure out which relationships you need to build and maintain -- as well as anyone who could potentially derail your plans. Note each person's title, role in the decision-making process, how much contact you've had within them, and how "friendly" they are. To provide value to the account and find mutually beneficial opportunities, you need an in-depth, sophisticated understanding of their business. Stay up-to-date on their key business goals, financial health, and current initiatives. This section should cover how much this account is currently worth, which opportunities you've lost, which opportunities you've won, where you see potential revenue growth and your projected value for those opportunities.

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    It should also outline your short-, mid-term, and long-term goals and the owner of each. For example, maybe your sales engineering team is responsible for getting a meeting with the CTO by January. Your ultimate objective is transforming the entire department into paying users. This section is arguably the most important. It takes your goals in other words, your account wishlist and breaks down the actions you need to take to reach them.

    The more specific and actionable these actions are, the better. Strategic account management involves juggling several initiatives, priorities, and campaigns at one time. Without clear direction, your team will go off in a thousand directions. Plus, you can always adapt your strategy down the line if something changes. A winning strategy hinges on being selective.

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    Make sure you're picking the right key accounts -- and you're applying the same criteria to each one. A well-planned, comprehensive key account management strategy won't just keep your best customers satisfied -- it will also provide opportunities to exponentially grow the relationship. Your retention rates and bottom line will both benefit. Originally published Mar 18, AM, updated October 20 Contact Us.

    Investors Investor Relations. Subscribe to Our Blog Stay up to date with the latest marketing, sales, and service tips and news. Sales — how to sell our products over the phone not generic sales field training! Acumen — business acumen, industry acumen, and customer acumen — critical!

    Get them more involved. If you can create an exercise where reps are calling current, potential, or even past customers by day two, do it! They can qualify leads, gather success stories, call cold leads — whatever! The right hires are itching to start calling, and the wrong hires will show reluctance and wash out. Factor 8 Advisor T-shirts. Training mimics the floor. Quick hit ways to do this:.

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    You have a systems sandbox for training a monthly-updated mirror image of all systems b. Phones and systems in the classroom for better role plays c. Dummy accounts or even real low scoring accounts for practice d. What is good sales training? Check out my video here. Get to know your training ASAP. Pick your best sales leader and charge them with shortening ramp. Attend training, learn about good training, partner and assist your trainer with curriculum. Get the reports. Close the loop.

    congrantsulriwi.ga Are you reporting the top three skill gaps on the floor to training on a monthly or quarterly basis? Do you have the call coaching and rep meeting cadence in place to provide this? Get some help. Spend the money to bring in a professional sales training leader, someone to fix your program, or a great sales training curriculum.

    The Wrong Bottom Line . . . Still: Critical Components The Wrong Bottom Line . . . Still: Critical Components
    The Wrong Bottom Line . . . Still: Critical Components The Wrong Bottom Line . . . Still: Critical Components
    The Wrong Bottom Line . . . Still: Critical Components The Wrong Bottom Line . . . Still: Critical Components
    The Wrong Bottom Line . . . Still: Critical Components The Wrong Bottom Line . . . Still: Critical Components
    The Wrong Bottom Line . . . Still: Critical Components The Wrong Bottom Line . . . Still: Critical Components
    The Wrong Bottom Line . . . Still: Critical Components The Wrong Bottom Line . . . Still: Critical Components
    The Wrong Bottom Line . . . Still: Critical Components The Wrong Bottom Line . . . Still: Critical Components

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