{"id":16389,"date":"2019-04-10T14:05:48","date_gmt":"2019-04-10T14:05:48","guid":{"rendered":"https:\/\/perpetos.com\/?p=16389"},"modified":"2020-03-26T07:52:08","modified_gmt":"2020-03-26T07:52:08","slug":"are-you-the-partner-and-adviser-that-key-accounts-are-looking-for","status":"publish","type":"post","link":"https:\/\/perpetos.com\/en\/sales-enablement\/are-you-the-partner-and-adviser-that-key-accounts-are-looking-for\/","title":{"rendered":"Are you the partner and adviser that Key Accounts are looking for?"},"content":{"rendered":"

Recent research has shown that barely half of all salespeople are currently reaching their targets. Alex has been a Key Account Manager for over ten years, but even he still struggles with orders that he budgets for but ultimately never signs off. He also frequently ends up in discussions based solely on price. Let\u2019s have a closer look at Alex\u2019s case, and aspects of his approach that he could possibly improve.<\/p>\n

How does Alex select key accounts?<\/h2>\n

Much to Alex\u2019s frustration, he\u2019s often unable to convince accounts to make a purchase. So we asked him how he selected the customers he\u2019s currently working with. It turns out he uses the 80-20 rule based on sales completed in the past. Well, that\u2019s one way of doing it. But it means he\u2019s ruling out other possible indicators, such as size, current profitability and profit potential, and his chance of success compared to competitors.<\/p>\n

What value is he offering customers?<\/h2>\n

When Alex doesn\u2019t reach his targets, there\u2019s a good chance he doesn\u2019t really understand his customers\u2019 needs. And if he fails to clearly show how his solution will help the customer, the only bargaining tool he has left is the price. So he\u2019s pushed himself into a difficult position.<\/p>\n

Alex needs to work out a plan for each of his carefully selected key accounts. What are the basics of a robust account plan? First and foremost, it\u2019s essential that he talks to the main stakeholders to get a good idea of their issues and KPIs. His solution can only create value for the customer if it\u2019s based on this information. He then develops a strategy for each focus point, working out who he needs to speak to and what resources he needs.<\/p>\n

Three crucial steps for developing accounts<\/h2>\n

The following steps are essential for Key Accounts to reach their full potential, and for keeping competitors at bay:<\/p>\n

    \n
  1. Identify the main decision-makers and influencers, and develop your network<\/li>\n
  2. Use your time and resources in line with expected profit<\/li>\n
  3. Add value to your customer\u2019s case which benefits both parties<\/li>\n<\/ol>\n

    The result?<\/h2>\n

    If Alex follows the above steps correctly, he won\u2019t just become a partner and adviser to his customers, he\u2019ll also get a lot back in return:<\/p>\n