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What are the most common mistakes companies make when creating a key account value proposition?

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A key account value proposition is a statement that summarizes how your company can help your most important customers achieve their goals and solve their challenges. It is a powerful tool to communicate your unique value and differentiate yourself from your competitors. However, many companies make mistakes when creating a key account value proposition that can undermine their credibility and relationship with their key accounts. Here are some of the most common mistakes and how to avoid them.

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Jara Butter

Sustainable Transformation | ESG-Consultant bei ENGIE Deutschland | CRM | MBA
Sameh Khair

Pharmaceutical industry expert dedicated to adding value to my community | Head of Commercial | Health Economics | MBA…
Asha Kanta Sharma

Manager - Finance & Accounts @ Opendoors Fintech | Financial Accounting

1 Not being specific

A key account value proposition should not be vague or generic. It should clearly articulate what you can do for your key account that no one else can. You should use specific examples, data, and metrics to back up your claims and demonstrate your impact. Avoid using buzzwords, jargon, or vague benefits that could apply to anyone. Instead, focus on how you can help your key account achieve their specific objectives, challenges, and needs.

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Jara Butter

Sustainable Transformation | ESG-Consultant bei ENGIE Deutschland | CRM | MBA
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Use key performance indicators (KPIs) relevant to your key account's objectives. Whether it's increased revenue, enhanced efficiency, or improved customer satisfaction, attaching specific metrics adds precision to your value proposition. Steer clear of ambiguous buzzwords. Replace generic terms with specific, action-oriented language. Instead of using vague descriptors, opt for clear and precise statements that directly address the unique benefits your key account will gain.

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Asha Kanta Sharma

Manager - Finance & Accounts @ Opendoors Fintech | Financial Accounting
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A compelling key account value proposition is essential for establishing and maintaining relationships with key clients. However, companies often make mistakes that can hinder its effectiveness. Common errors include creating generic value propositions, focusing on features instead of benefits, using overly complex messaging, failing to quantify value, lacking personalization, ignoring competitive differentiation, neglecting emotional appeal, inconsistent messaging across channels, involving key stakeholders, neglecting continuous improvement, addressing risks, overpromising and underdelivering, not aligning with key account goals, insufficient customer input, and not demonstrating flexibility.

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2 Not being customer-centric

A key account value proposition should not be about you, but about your key account. You should not focus on your features, capabilities, or achievements, but on how they benefit your key account. You should not assume that you know what your key account wants, but listen to them and understand their pain points, expectations, and preferences. You should not use a one-size-fits-all approach, but tailor your value proposition to each key account based on their industry, segment, role, and situation.

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Sameh Khair

Pharmaceutical industry expert dedicated to adding value to my community | Head of Commercial | Health Economics | MBA | Lifelong Learner | Certified Happiness life Coach | Leadership advocate |Empowering people
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Poor is the account manager who is building their value proposition solely from their company’s point of view and interests, neglecting to be customer-centric. Account management revolves around your customer; you need to conduct thorough research across multiple channels until you gain maximum insights that unveil all the challenges your account faces. Then, marry these insights with the value you are providing. When you fail to prioritize your customer in your planning, you risk wasting resources by deploying them in the wrong places.

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3 Not being consistent

A key account value proposition should not be inconsistent or contradictory. It should align with your brand identity, vision, and values. It should also match your actions, behavior, and performance. You should not promise something that you cannot deliver, or deliver something that does not match your promise. You should not change your value proposition frequently, or have different versions for different audiences. Instead, you should have a clear and consistent value proposition that reflects your core strengths, values, and benefits.

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4 Not being relevant

A key account value proposition should not be irrelevant or outdated. It should reflect the current and future needs and goals of your key account. It should also take into account the external factors that affect your key account, such as market trends, customer demands, competitor moves, and regulatory changes. You should not rely on a static or outdated value proposition, but update it regularly based on your key account feedback, insights, and results. You should also test and validate your value proposition with your key account to ensure that it resonates with them and meets their expectations.

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Owens Gollamandala

Director of Client Services, LinkedIn Top Voice Account Management and Client Relations
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Let's make sure our value proposition always stays relevant to our key accounts. We'll keep an ear to the ground, listening to what's happening in their industry and what they need. We won't guess; we'll ask our key accounts directly for feedback. Their opinions matter, and we'll act on their suggestions promptly. We'll also keep an eye on our competition to see where we can offer something special that others can't. And if there are any big changes in the world that affect our key accounts, we'll adapt our value proposition accordingly. It's all about being agile, staying informed, and putting our key accounts' needs front and center.

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5 Not being compelling

A key account value proposition should not be boring or bland. It should capture the attention and interest of your key account and motivate them to take action. It should also convey a sense of urgency and importance for your key account to work with you and not with your competitors. You should not use a long or complex value proposition, but keep it simple, concise, and memorable. You should also use emotional appeals, stories, and testimonials to connect with your key account and show them the value of working with you.

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6 Not being differentiated

A key account value proposition should not be similar or identical to your competitors. It should highlight your unique value and competitive advantage that sets you apart from the rest. You should not use a generic or common value proposition, but create a distinctive and original one that reflects your unique selling points, capabilities, and benefits. You should also research and analyze your competitors and their value propositions, and identify the gaps and opportunities where you can differentiate yourself and offer something better or different to your key account.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Account Management

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What are the most common mistakes companies make when creating a key account value proposition?

1

2

3

4

5

6

7

1 Not being specific

2 Not being customer-centric

3 Not being consistent

4 Not being relevant

5 Not being compelling

6 Not being differentiated

7 Here’s what else to consider

Account Management

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What are the most common mistakes companies make when creating a key account value proposition?

1

2

3

4

5

6

7

1 Not being specific

2 Not being customer-centric

3 Not being consistent

4 Not being relevant

5 Not being compelling

6 Not being differentiated

7 Here’s what else to consider

Account Management

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