9 Habits of Highly Successful Key Account Managers
We have been conducting an in-depth study of global KAM trends since early 2013, engaging with key account managers who sell into some of the world’s biggest and best companies.
We wanted to understand the challenges they faced, the techniques they used and what they saw as the future of KAM. The results are a vivid portrait of what it takes to be successful in Key Account Management.
We have called it the 9 Habits of Highly Successful Key Account Managers*:
|Habit 1: Select
Habit 2: Identify
Habit 3: Connect
Habit 4: Engage
Habit 5: Understand
|Habit 6: Strategize
Habit 7: Navigate
Habit 8: Justify
Habit 9: Succeed
The habits suggest that KAM is entering into its golden age, where it has new importance discipline and structure. It is seen as strategically important to organizational success. It is an essential response to competitive pressures within key accounts and most important of all to changes in how large customers buy. It is essential to:
- Protect and grow revenues from the corporation’s lynch-pin customers
- Keep pace with the sourcing procurement and supply chain strategies of its customers.
The habits are a portrait of the most successful characteristics and behaviors of key account managers set against the background of increased pressure on prices, centralization of buying decisions within large global organizations and other trends such as the consolidation of suppliers.
So, let’s examine the 1st habit: Select.