One of the biggest questions people tend to have about Key Account Management (KAM) is why on earth it did not work for them, but what these people failed to realize - before even implementing KAM - was that KAM is not for everyone; of course, some people see the results others have enjoyed through well-implemented Key Account Management and immediately decide to jump on the bandwagon, but before you do so yourself, your best bet is to make sure you fall within an area of operation that will make KAM profitable for you.
One of the first questions you should ask yourself is whether or not you have key accounts - which is not simply a question about what accounts of yours currently deliver the majority of sales, but is one that must also take into account the potential for future sales. Realize: there are a whole lot of factors that contribute to this, including size, customer attractiveness, and staying power - and in fact, upon closer inspection, you can often find that some of your accounts that are currently smaller actually have greater potential than your currently largest accounts.
Another question worth taking a look at, before you decide to jump on board, is what exactly you expect KAM to be able to deliver for your business - whether you are looking for it to deliver increased customer satisfaction, increased profitability, or increases in other areas; until you are able to answer this question - and are able to properly define what you hope and expect "success" to look like - you will not be in a position to move forward.
Another area that is quite obvious, but that many people fail to look at, is whether or not the people in your business are actually capable of doing what you expect them to do. After all, when you have expectations that are not clearly-defined, or when the employees put in charge of certain areas do not have the required competencies, you will be unable to achieve success!
And of course, you will need to realize that KAM is not a turnkey approach to guaranteed success, as some customers will not be helped toward their goals with the methodology involved - so before you make a commitment in this area, you will need to make sure your customers will actually benefit!
KAM can greatly increase your potential for success, but it is first important to make sure this is the right approach to use - and in fact, there are even more things than those listed above that are worth exploring and examining closely before jumping on board!
If you are trying to make these decisions for yourself, a great place to visit is http://www.hands-associates.com, where you will find even more thoughts from one of the leading Key Account Management Consultancy experts - and where you will be able to move even closer to understanding and deciding whether or not Key Account Management is right for you.
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