Learn in this article why it is a career on the rise and how this type of manager can help you have more sales opportunities and strengthen relationships with your customers.
Who is a Key Account Manager?
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A Key Account Manager is responsible for managing sales and customer relationships. However, that does not mean that you are concerned with anything other than managing relationships with specific clients, quite the contrary.
It can be said that in a company the account managers act as mediators between the sales team and the customer service team.
In addition, your role is to understand customer wants and demands, plan how to meet those needs, and generate profits for the sales team.
In larger companies, a key account manager usually reports to an account supervisor or a customer service manager.
Tasks of a Key Account Manager
Keep in mind that an account manager can have many different responsibilities. However, not everyone has to have all the same obligations and naturally, it varies depending on the demands and wishes of the client.
Of all the responsibilities you may have, the following three may be the most important for a Key Account Manager:
1) Operate as the main point of contact for all matters particular to customer accounts.
2) Build and cultivate long-term relationships with clients and consumers.
3) Take care of and supervise the management of customer accounts, including agreements to increase profits.
How a Key Account Manager can help you in your business:
Now that you know what tasks it performs, but it is still not clear to you how it can help you based on your business, analyze these points:
- A Key Account Manager can be the main point of contact and can build long-term relationships with your clients.
- You contact your clients through email, telephone, webinars or in person and you can assist them closely.
- Develop a relationship of trust with your key accounts, (clients and sponsors)
- All Key Account Manager ensures timely resolution according to the needs and objectives of each client.
- Clearly communicate the progress of monthly / quarterly projects to the entire team or clients who request it.
- Provides a forecast and monitoring of the metrics of the accounts that he or she manages.
- It is constantly formed through forums, webinars, etc.
- Its responsibility is to keep current clients satisfied and to offer exceptional service on a day-to-day basis.
- The Key Account Managers constantly analyze the use of your product by customers.
- He is responsible for working with the sales team to integrate new clients and develop relationships with existing clients.
A Key Account Manager leads your company to success
Remember that a Key Account Manager, apart from helping you with your clients, has to have a 360-degree view of your company. At the same time, he knows each client like the back of his hand and knows the objectives and needs of each one of them.
Because of this, each KEM needs to provide you with the highest possible value and make your business indispensable to your customers.
Now, if you are analyzing hiring or forming one of your team, take into account the following:
- A Key Account Manager knows about your product or service and sector
Take into account that when your clients have questions, your KAM must be there with the answers and be an indispensable and trusted advisor.
That is why it is important that your key account manager must be aware of each of the updates of your product or service and must have a deep knowledge of what is happening within your organization and industry.
This can help you a lot since, apart from meeting on a daily or weekly basis, you can talk about each of their accounts and share with you any news they have.
It even supports you in periodically analyzing your competition, since you are giving a global vision of your sector and what strategic decisions can be applied in order to keep customers happy.
- Provide clear and effective communication
One of the keys to building solid relationships between your key account manager and your clients is to implement clear and effective communication.
Analyze: when a customer is not satisfied, it is due to a simple lack of communication. This may be due to the lack of follow-up calls from your agents or it may be that they are not available when your clients need them, etc.
A KAM maintains fluid lines of communication between itself and its clients, establishing itself as a strategic partner. He feels the closeness and always finds an effective response.
- Every Key Account Manager understands the clients' objectives
Hand in hand with the aforementioned, it is important that you ask yourself 2 key questions, to achieve your long-term and short-term goals:
- What is the client looking to achieve by using the products or services that I work with?
- How, as a key account manager, can I play a valuable role in helping clients achieve those goals?
Take into account that a KAM gives a high priority to the objectives of its clients and constantly helps them achieve them.
Even when a customer shares their satisfaction and recommends you, it puts you in a better position to create long-term, loyal relationships.
- Has a collaborative and strategic mindset
Along with the above skills, a Key Account Manager manages each client relationship with a collaborative and strategic mindset.
To build the strongest possible relationships with your clients, a KAM becomes a strategic partner where everyone wins.
Conclusion: Hire a Key Account Manager now!
Every key account manager collaborates with your clients to develop an action plan that promotes your business objectives. Also, show the real value of your product or service.
Long-lasting and successful relationships with key account managers are based on trust, respect, communication and partnership.
These relationships are the lifeblood of your business and your account managers are in charge of it.
What's more, if you give them a tool like a CRM, we can assure you that your negotiations will turn 180 degrees.
This software helps you track your possible sales, manage documents, create campaigns, manage reports and much more!
A CRM that can help you is Effigy, take the test!
