The key account management process

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The key account management process

To setup a key account program, follow these steps. First, you need to decide which accounts are key. Now, it may seem obvious that you'll select only your largest accounts, but as you'll see later, that's not necessarily true. Instead, you'll develop a set of rigorous criteria that an account must meet to be considered key. Size of the account may not be as important as other criteria. Once you've selected your key accounts, it's time to create a vision, mission, and strategic focus for your key account management program.

Now, it may seem odd to develop your strategy only after selecting key accounts. Now, wouldn't it make more sense to develop a strategy first, then select accounts that can help you achieve that strategy? Well, there's some truth to that. I like the other way around, though, better, and here's why. I prefer to know the size and depth of my key account program ahead of time. How many accounts do I have to manage? And what is the depth of my opportunity and risk in those accounts? Now, armed with that information.

Source: https://www.linkedin.com/learning/key-account-management/the-key-account-management-process[/size]