Frequently Asked Questions What is Key Account, or Strategic Account, Management?
• Strategic Account Management, also called Key Account Management, is a systematic approach to managing a company’s most important accounts as business assets. To succeed, Strategic Account Management must be a total business initiative. It’s a business mindset. • Strategic Account Management is a process to acquire a deep understanding of each strategic account’s business strategy and procurement requirements. This differentiates strategically-oriented suppliers from most competitors. • Companies that have adopted Strategic Account Management as a positioning strategy often report strategic account revenue growth in excess of 40%. • A central theme of strategic account management is mapping and strengthening long-term relationships with clients at all levels. Multi-level relationships position suppliers for strategic account retention when key executives change. • Strategic Account Management is based on delivering exceptional client value that earns strategic supplier status. This r
