Mark Davies, visiting fellow at Cranfield, conveys how important is it for key account managers to develop relationships with procurement managers within the customer organisation and, in doing so, gain crucial understanding of their procurement. Capturing the numerical value you, as a supplier, bring to the customer is also a key enabler in negotiations.
Everyone knows the famous Culture Club song Karma Chameleon. But here we are going to introduce the KAMA Chameleon, or in our world, the Key Account Manager (KAMgr). The KAMgr job has evolved over the last 20 years into a complex and multi-faceted role which is a very different role from that of traditional sales roles. The role stretches far beyond the sales function where it has traditionally been seen as residing and encompasses the whole organization and that of the customer.
Professor Malcolm McDonald explores 6 thought-provoking viewpoints on why many organisations are getting Key Account Management hopelessly wrong.
Dr Javier Marcos explains the importance of supplier and customer organisations working together towards the same goal and introduces those practises which are associated with value co-creation: co-exploration, co-ideation, co-design, co-testing, co-launching and embedding.
Key account management (KAM) has evolved radically over the last five years or so. The traditional focus of managing a large customer relationship is still tacit, but today a more sophisticated business model is required. Customers and suppliers seek to co-create value – and KAM is the perfect way to achieve this.
Ask organisations to list the essential ingredients of a Key Account implementation and Key Account Plans will always feature on the list as an imperative part of Key Account Management (KAM).
Planning for success can be daunting for organisations that recognise they need to focus on managing a portfolio of fewer (but larger and more powerful) strategic customers. Today, having a strong KAM capability is essential – and yet many organisations get the basics wrong, failing to achieve the results they planned for.