Excerpt from 6 Steps to Effective Key Account Management

In early 2016, the first locally published book on Key Account Management was finally launched.

I would like to acknowledge the author and Sales & Distribution guru Bong Macasaet, one of the partners of Mansmith & Fielders, for featuring my thoughts and experiences as a long-time practitioner of key account management in the first chapter of  6 Steps to Effective Key Account Management .

Here is a short excerpt:

Q: "What can you advise our key account managers today?"

A: I have three key thoughts that hopefully will help key account managers today become better at managing their most important customers.

1. What you know now will not be enough to succeed tomorrow

Keep on learning and improving your craft. Invest in books so you may learn lessons from others and invest in training to ensure you are ahead and updated on the latest developments in key account management. Look for someone who has been there and done that. But also look for someone who is doing it now. Get a wise old mentor. But also get a wise young mentor. You get the best of both worlds.

2. Nurture your key accounts based on their needs and potential

There is no one best approach to succeed in managing key accounts. Just as there is no one leadership style to successfully manage people at different levels of professional maturity, you need to tailor-fit your strategies and tactics, as well as business plans according to the level of readiness and potential of your key accounts. As a parting thought, if it’s not a mutually profitable relationship, you need to have a good plan B prepared.

3. When you focus on their success, your success follows

You and your company are in a daily contest for the share of mind, share of heart, and share of pocket of key accounts. Focus more on how you can add value to their business instead of what value they bring to yours. If you can help them reach their objectives consistently, they will look at you as a preferred partner. Your objective should not be limited to sales achievement. Sales is simply a lag measure. Partner with them and help them build their brand, their customer base, their transaction count, and finally help make them the retailer of choice of their target shoppers. More profitable rewards to you and your company will most surely follow.

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For more insights on how to professionally manage your most important customers, you may get a copy of the book in National Bookstore and Powerbooks branches nationwide.