By clearly defining territories, you can create a strategy that ensures field reps will not compete against one another for the same customers or visit a customer twice. Im working on a career in strategic account management. An oftoverlooked step in the sam process is the transition from sales to account management. Sm, we have developeda best practice methodology to guide your implementation. Successful sales leaders build their reputations and careers on their ability to consistently meet or exceed their revenue goals through focused sales strategy execution. Successful large account management how to hold on to your most important customersand keep them going strong in todays marketplace by robert b. These pillars are built on the assumption that a strategic account management process consists of account planning and account management, and that all of that is connected to the marketing, sales, and service processes. The new successful large account management maintaining and. This process provides a road map for strategic customer relationships that have growth potential. This hardhitting and nononsense book advises you how to best manage your most important business accounts. Large companies have become increasingly sophisticated negotiators. The new successful large account management, ideal for sales directors, managers and executives, shows businesses how to protect and develop those critical accounts they cant afford to lose.
This hardhitting, nononsense book describes a unique process that will help to improve your most important business relationships and is crammed with current examples of real success stories and proven strategies to. Miller, tad tuleja, patrick thomas foreword by, stephen e. Based on the success of clients who have adopted the. This process provides a road map for strategic customer relationships that have growth potential through the development of a one to threeyear plan to guide team selling and customer collaboration efforts. Processsm, we have developed a best practice methodology to guide your. The strategic account plan is designed to help the account management team effectively prepare and stay focused on the customers business objectives and goals to ensure they achieve the planned results, create a consistent experience for the customer, and ultimately identify how they can make a positive impact on the customers business. Maintaining and growing your most important assets your customers revised and updated ed. Apr 18, 20 building on our experiences of designing and evaluating the implementation of large scale health information technology interventions in the usa and the uk, we highlight key lessons learned in the hope of informing the ongoing international efforts of policymakers, health directorates, healthcare management, and senior clinicians. Feb 08, 2016 the new successful large account management maintaining and growing your most important assets yo. While on their face, many of the outcomes of strategic account management and sales are the same e. Key account management kam is one of the most important changes in selling that has emerged during the past two decades.
Kam is a radically different organizational process used by businessto. Successful large account management key account management. Feb 19, 2020 the reason is that, in large account management today, successful firms help their clients run their businessesnot just purchase supplies or utilize services. Oclcs webjunction has pulled together information and resources to assist library staff as they consider how to handle. Jun 22, 2017 project management methodologies and mtts are significant project management success factor, and therefore, one of the enablers of project success 3. Strategic account management best practices checklist the. For a b2b company, the largest, most strategic accounts can be doubleedged swords. To be a successful account manager, you must exceed customer expectations, generate new business, and manage your team among other things.
Strategic account management best practices checklist. Key account management programs are often less than fully successful because kams fall short in particular behaviors. For best results, follow a formal, scripted handoff from the sales team to the account management team. The new successful large account management revised. The new successful large account management and its selling process lamp is a blueprint the shoe leather sales person can implement themselves. Click download or read online button to get successful large account management book now. Any department that will have an ongoing relationship. From account selection, to research, to a strategic and tactical methodology for gaining access and winning the business, the new successful large account management covers it all. Mackay author this was one of the first business books i read back in the 90s from from a guy who. Key account management process for abb large motors and. Internal tech sales power point for large account management, best used to present large accounts, justify expenses, quarterly reports et.
The new successful large account management by robert b miller and stephen e heiman with tad tuleja kam key. Kam is a radically different organizational process used by businesstobusiness suppliers to manage their relationships with strategicallyimportant customers, and it produces measurable business benefits. The cips contract management guide is intended to cover all those activities associated with contract management. The new successful large account management maintaining and growing your most important assets yo. Successful large account management book, 1991 worldcat. A large portion of this success is attributed to their account management abilities. This section will give you the right framework for creating a schedule and managing your time. The success of important business deals was depended highly on the personal commitment of the key. Based on the proven miller heiman large account management process, which is used successfully by some of the worlds largest companies, it is crammed. Large account management processsm lamp reveals how to best manage and grow. Done right, better key account programs can obtain more customer volume at lower discounts while not adding to costs. You need to have a process in place and a plan to follow if youre hoping to hit it big with one or more of your accounts.
Five pillars of an integrated strategic account management process. This post provides an 8 step guide to put you on the right path to kam success. It provides comprehensive, practical lessons that will help readers to protect and improve their most crucial customer relationships. Outsell, outmanage, outmotivate, and outnegotiate your competition by harvey b. The new successful large account management now in its third edition, is thoroughly revised and updated and takes into consideration recent changes in the industry. Successful large account management by miller, robert b. It all comes down to the behavior of the key account managers. The first generation key account management was based on geographical spread, vertical segmentation and sales data. When you first start to implement a key account management strategy, you should not be afraid to start small.
Successful large account management 1991 edition open. Luckily, like other good habits, these processes can be learned, and in time, become engrained in your company culture. Maintaining and growing your most important assets your customers 272 by robert b. A critical talent for successful account management is the ability to build relationships, as relationship selling is a very effective way to increase account penetration. How to hold onto your most important customers and turn them into long term assets robert b. Vendor selection process one of the first steps towards implementing a robust accounts payable system involves setting up preferred. Account managers have some chance of success if they have the right toolkit. How well you handle account transitions is an important part of building a trusted relationship with your customers. Covering three key stages of account management, our training on how to manage big accounts teaches sellers to build actionable management plans that lead to positive outcomes. Successful large account management july 1993 edition.
Using miller heiman groups gold sheet analysis and strategy, lamp teaches organizations how to build actionable account management plans that ensure success for both sellers and their customers. Reliable information about the coronavirus covid19 is available from the world health organization current situation, international travel. True key accounts have a special strategic meaning for the company, beyond their size. Most consumer goods companies understand the importance of an effective sales territory management plan it can prevent territory overlap between field reps, which causes confusion and wastes time. Large account management processsm lamp reveals how to best manage and grow strategic accounts by bringing the entire relationship into view. These key accounts can represent 30 to 50 percent of revenue and margin for many companies. Account management account management is the customs process of viewing a company and its trade. The 7 habits of highly effective strategic account managers blog. The activities themselves are divided into two distinct but interdependent phases, upstream and downstream of the award of the. One notable example is the miller heiman large account management process. Key account management kam, or strategic account management, refers to the process of identifying or targeting key accounts, which have strategic value, and developing a deeper, more meaningful, mutually beneficial relationship with them. Once the account planning process is familiar, a shorter account plan may become a more efficient document for your regular use.
Make a clear distinction between large accounts and key accounts. How to unlock growth in the largest accounts mckinsey. The authors of the bestselling books, the new strategic selling and the new conceptual selling, have now put together a hardhitting, nononsense book describing the unique process that will help to improve your most important business relationships. Account management and selling are different in these 5 ways. Based on the success of clients who have adopted the large account management. Large account management processsm who should attend any member of the organization involved in account management. The 8 step guide for successful key account management kam. Pdf the new successful large account management download. However, formatting rules can vary widely between applications and fields of interest or study. Large accountmanagement process strategic planning for protecting and growing key accounts overview large account management process sm lamp reveals how to best manage and grow strategic accounts by bringing the entire relationship into view. Customize it with account management duties and responsibilities for your company. Based on the success of clients who have adopted lamp, we have.
To succeed at account management, you must balance the needs of the customer with the goals of the organization. Customer understanding understanding the changing market dynamics affecting the. Here are 5 areas where these differences stand out. Heiman, tad tuleja published july 1993 by millerheiman. Numerous and frequentlyupdated resource results are available from this search. Learn 8 essential lessons for managing strategic or large accounts from the book excerpt of the new successful large account management by r. The overall goal of any good lamp process is to ensure better business returns for the targeted large account. New successful large account management robert miller on. Maintaining and growing your most important assets your customers robert b. Miller 8 lessons in managing large accounts change alone is unchanging. This account manager job description template is optimized for posting in online job boards or careers pages. Robert miller new successful large account management robert miller whatever your companys sales revenue, chances are that at least half of it comes from a few crucial. The new successful large account management shows you how to protect those crucial accounts that you cant afford to lose.
Imperatives for strategic key account management the table below lists the imperatives and sequences that any company needs to respect in order to excel in key account management. Successful large account management book, 1994 worldcat. Strategic account management best practices checklist it is understood that within many organizations there are existing account managers who have either been trained or who are extremely gifted and intuitive in the art and science of strategic account management. Most of the key account management approach was opportunity driven and done through a lot of paperwork. Strategies for optimizing your accounts payable 7 there are six main activities within the accounts payable function that, if optimized, can help you free up cash and strengthen your working capital. The 7 habits of highly effective strategic account managers. Designed to provide salespeople with a clearly defined approach to the account planning process, which will benefit their effective management of key customers. Skills required closing date probability of success 4. Here are 10 tips for successful key account management in todays busy business world. However, almost all these articles ignore one important aspect.
Ten key considerations for the successful implementation and. This thesis developed the key account management process for successful management of the companys current and strategically important. Two dominant factors driving the success of such accounts are proposedthe. Successful large account management download ebook pdf. Successful large account management will show you how. Jun 03, 2011 the new successful large account management shows you how to protect those crucial accounts that you cant afford to lose. The large account management process also known as lamp helps sellers plan and manage strategic account relationships. Account management program plays a vital role in achieving those goals by creating a partnership with selected companies that may represent a higher level of risk for noncompliance and working with those companies to improve their compliance. The reason is that, in large account management today, successful firms help their clients run their businessesnot just purchase supplies or utilize services. Strategic key account management has evolved from a purely opportunistic sales approach to major accounts, into a strategic company decision covering both corporate and operational aspects. In response, smart selling organizations are upgrading how they manage their largest accounts. This includes sales and sales management, as well as postsales support associates such as those in customer service, logistics, and it. What is miller heiman large account management process lamp.
Ask 10 people to define what these are, or to tell you what the criteria are for an account to be named a key account, and youre likely to get 10 very different answers. Strategic account management doesnt happen by accident its made up of formalized, repeatable, and measurable processes. This site is like a library, use search box in the widget to get ebook that you want. People at large companies bandy about the terms key account management and strategic account management in conversation every day. A good account manager is knowledgeable and understands the goals and priorities of the company. The ideas put forward in the text are based on the authors sales training programme lamp large account management. Strategy create a key account strategy driven by your corporate strategy build a competitive growth strategy that defines growth sources and key account added. Many plans have been suggested over decades of time, but only a few have stuck around until today.