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Key Account Management

How important are high-potential key accounts to your organization? Many organizations devote resources to accounts with the potential to provide consistent, long-term value. Key Account Management requires more time and planning, and execution of a defined sales process than transactional selling accounts.

What is Included with Key Account MAnagement

The skills necessary to manage key accounts differ from a traditional account sales process and often must be developed. Many organizations offer training and resources focused only on the traditional sales process. The Key Account Management program is designed to cover many key sales skills and techniques that impact key account managers. They include:

Building/ Managing relationships

Profiling potential accounts

Presenting for success

Continuing the relationships

Plan & prepare sales calls/ communication

Account planning

Confirm and close with key accounts

Identifying accounts

Developing action plan

How Does the Key Account Management Program Work?

IntRAtrain has designed a Key Account Management program that follows a flexible blended learning approach. Key steps in the program include:

ASSESSMENTS

Learning will begin with an assessment to gather a baseline measurement of knowledge and skills related to Key Account Management. The assessment will include general concepts, specific skills, and application ideas. See an example. 

TRAINING MODULES

Online Training Modules provide knowledge, skills, and concepts related to Key Account Management. The modules introduce key concepts such as selecting key accounts, developing their Key Account Plans, and beginning partnering with each Key Account to develop their business. There are approximately 20-24 learning modules in this learning series. See an short example.

APPLICATION ACTIVITES

Application activities follow each module. These activities will vary in style. Early in the learning process, the activities will focus on understanding the materials; later activities will focus more on applying the concepts specific to your situation. See an example. 

DISCUSSION AND CHECKPOINTS

Group discussion and coaching checkpoints will be held after every 2-4 learning modules. The group sessions will be used to review key learning objectives, share ideas, and explore in greater depth how the learning materials apply specifically.

WORKSHOP

An in-person workshop continues the application of skills and knowledge of Key Account Management. The session will review the key points while developing, refining, and expanding the depth of work done in earlier learning sessions.

REINFORCEMENT

Reinforcement Checkpoints will occur after the conclusion of the initial training. These checkpoints aim to ensure that questions and concerns are answered, peer sharing and coaching is occurring, and skill refinement is developing. Shared experiences provide some of the best learning opportunities.

Key accounts are critical to any organization’s long-term success. You may have many transactional customers, but it’s the strategic accounts that you partner with and grow with in a mutually beneficial relationship. As much as 33% of overall revenue comes from Key Accounts (Gartner), but successful Key Account Management can drive overall performance in all areas.

Key Accounts offer a host of benefits to your company, both financial and indirect or non-financial. Let’s look at some of these benefits.

Financial Benefits:

  • Organizations that excel at Key Account Management and can see up to a 33% increase in profitability and 50% increase in total sales and revenue. (Gallup)
  • Companies are 33% more likely to be their customers’ top choice for new business and that new business from key accounts is 60-70% more likely to close vs 5-20% for new business from new customers. (Gallup)
  • Companies with effective Key Account Management can see up to 20% improvement in customer satisfaction coupled with increases in sales and revenue. (Harvard Business Review)
  • Key Accounts can increase the scope of opportunities for the vendor.
  • Key Accounts buffer risk by associated with new product development by providing a ready customer who has partnered on design, research, and development.

Indirect Benefits:

  • Key Accounts can enhance the reputation of your company.
  • Key Accounts help spur innovation by providing a ready market for new products and services.
  • Key Account relationships build credibility and trust meaning the client is comfortable referring you as a vendor to their peers.

4 + 4 =

Reach out today to learn more. Informational demos are available upon request. 

The intRAtrain Key Account Management training program uses a blended learning approach to develop sales professionals to maximize their ability to build relationships with critical Key Accounts. The program includes elements designed to appeal to learners in a variety of ways and keep them engaged throughout the learning process.