Key account management - no child?s play

Unlike selling, which is skill-based, key account management is strategy-based, says Akshay Bandhu.

On many occasions we have been asked to design and conduct training programmes on key account management. However, in very few cases do such programmes cater to the client's needs, who usually want training programmes on selling to corporates or to large accounts. Now, what is the difference?

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Putting simply, selling to corporates is a skill-based training programme that follows a process, while key account management is strategy-based. Key accounts, by definition, are high value/volume accounts, and therefore require special attention.

To elaborate further, running a course in key accounts works on the assumption that the delegates have already gone through training in selling to corporates/large accounts or have sufficient experience in this segment. Key account management then becomes a natural extension of managing these large accounts and further developing on them.

Since getting key accounts and then managing them is all about team work, it goes without saying that in the training hall, all key people associated with these accounts must be present. Typically speaking, we have the lead man, who is the person who initiates the call, and senior executives who have been interacting with their clients at different levels. The mantra is "width and depth".

If we were to make a two-by-two matrix, keeping business as one parameter in the x axis and relationships as the other in the y axis, we can get a clear picture as to what the focus areas while training delegates in key account management should be.

The entire team needs to work on strategies for these accounts. Follow these steps while planning:

Where are we right now? This means doing a SWOT analysis on the current situation.

Where do we want to go? A goal setting exercise. Account mission statements can also be made.

How will we reach there? This is the strategy.

Who will do what and by when? Fixing responsibilities with defined time-frames. This includes senior executive calls.

What are the assumptions? Internal and external, both need to be considered.

The other two steps are implementing and review.

On the relationship front, all issues relating to CRM (customer relationship management) come into play. Though behaviour such as listening, empathy, building rapport etc. do play an important role, clients actually evaluate their relationships with business partners on their ability to fulfill commitments. Critical issues like on-time delivery, prompt after sales service, quality of goods/services are all measurable.

Action plans need to be worked upon and senior members need to ensure that plans agreed upon are implemented. More often than not, senior executives interact with clients as a relationship building exercise or open the doors for the lead man to interact with senior members.

Training sales people on key account management actually gives them a clear picture on how to proceed. Documentation, that is filling up the formats, is critical and many a time, sales people do not fill up the required data regularly or their immediate managers often overlook it. This dilutes the impact of the training programme.

Needless to add that such training programmes are irrelevant if there are no key accounts.

The author is Deputy Vice President - Aptech Soft Skills Training, a soft skills training expert and can be reached atbakshay@aptech.ac.in