What’s Happening To Key Account Sales People?

One of the most dynamic areas of the sales process is Key Account Management (we’re using the term generically, there are differing variations like Global Account Management, Enterprise Wide Selling etc), and synonyms like Major Account Management etc. However, whatever the term or nuance, one change driver connects all these different selling approaches; that focusing on a fewer number of customers in ways that delivers greater lifetime value is a very effective business strategy. Indeed most large organisations demand that selling organisations approach deal with them through a key account perspective.

We thought it timely to share some of our learnings about how this function and role are evolving:

1.	The people doing it are better educated than ever before. There are more graduates, more MBAs and generally more qualified people in key account roles.
2.	The role is becoming more specialised, see the variations in the opening paragraph.
3.	The £100,000 pa salesperson is less rare. They’ve been around in IT for some time; we’re seeing them in Financial Services, Recruitment, and FMCG not as isolated stars, but as several in a team.
4.	To stay ahead they have to increase the contextual understanding much more, the need to be business focused has never been more acute.
5.	They need a broader skill set, including Project Manager, SLA Manager, Investment Analyst, Strategic Marketer, CVP Specialist and Strategic Planner to mention six.
6.	How accounts are targeted is becoming more sophisticated using tools such as segmentation and potential, analysis (as opposed to simple spend).
7.	The orchestration of cross-functional integration and team selling are often part of the KAM role. An organisation’s ability to develop a holistic, single view of a customer is another matter (and article) altogether!
8.	They need to match the increasing sophistication of the customer’s organisation with innovative and compelling selling strategies. See sister article about procurement.
9.	They don’t survive long without a robust sales process and pipeline management system.
10.	Key Account Management is becoming a strategic capability, something that requires board sponsorship and the best resources. Done effectively it can become a distinctive form of competitive advantage.

To talk to us about developing your own organisations key account management capability please contact:

Lynn Joy
T: 01789 734400
E: lynnj@salespathways.com

Our sister company Structured Training runs a programme that picks up the themes of this article, click here for more details.

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