Key Account Management

INTRODUCTION

There is a saying that it costs five times more to get a new customer than to retain one and yet we find many companies today fail to manage such assets well that they finally ended up in the hands of the competitors.  A key account is defined by the fact that it generates volume sales and an attractive profit margin to the seller company and it is on this basis that companies should start instituting plans on how to consolidate such accounts without having to look for new ones.  After all, much time and money have already been spent initially to acquire the account.  Now it has started to do business with the company, it should make every effort to jealousy guard it from going over to the competitors.

BENEFITS

• Building partnership and customer care programmes that work.

• Building business strategies that capitalize on long-term relationships with your best and profitable customers.

• Gaining competitive advantage by putting in value and taking out non-value.

• Measuring the success for your plan

• Creating new markets for customers with diverse needs

• Developing win-win solutions with your customers

• Building long-term tactical plan to reinforce closer relationships with your customers.

COURSE OUTLINE
DAY 1

Introduction
- "After the sales, now what?"
- The importance of account management in tough times
- The 5 levels of sales relationships
- The disease in account management : COMPLACENCY

Module 1 - The value chain of your Organisation
- Applying the value chain to determine the "red" spots in your organisation.
- The SWOT analysis of your service ability to your clients.

Module 2 - The Buying Team (Decision Making Unit)
- Who's who in the DMU in your client company to facilitate your sales.
- Know what the buyer wants.
- What are the forces affecting their business performances. How can you help?
- Know that you, the Sales Person, is important to your organisation.

Module 3 - Negotiation-selling Strategy
- Characteristics of effective sales negotiators.
- Understand sales negotiation principles.
- The importance of "Follow-through" negotiation.
- How well prepared are you before you negotiate.
- Do you know what makes your company unique?
- The five conditions that help to develop a Value-added Service.
- The application of the common six benefits to be sold to a prospect.

DAY 2

Module 4 - Developing a relationship-building plan

• Know and apply the various bonding techniques.
  
• Using the relationship-building form.

Module 5 – Managing the Key Account

• Objectives of managing the account

• Identifying your key account

• Types of communications you can apply to communicate with the account

• Know the various types of sales objectives

• A typical agenda for a key account review meeting

• The application of the Account Business Plan form

• The application of the Account Action Plan form

• The application of the Account Progress Report form

Module 6 - Control and Measuring Success
The application of the following forms:
- The Customer Purchasing Ledger
- The Weekly Planner- The Daily Sales Report
- The Monthly Performance Review

Module 7 - Managing Service Breakdown
- Understand the six steps to serve recovery
- Understand the importance of customer retention
- Case Study: British Airways, Famous Amos, SEA Insurance.
 
Target Audience :

• Sales Managers

• Marketing Manager

• Sales Executives

• Marketing Executives

Duration : 2 Days