How can you avoid common account management misconceptions?

ABP = Always Be Prospecting! Even in your Enterprize accounts - go wide and DEEP = people come and go within organizations, so always be learning about what's next!

one of the most common mistakes in account management, as working as an orders taker, instead you need to embed yourself in the organization and act as a consultant. make sure to understand the organization's goals short-, and long-term ones and how they are willing to achieve them. ensure to offer solutions whenever you can either provided by your company or elsewhere, and always make genuine business recomendations.

Being the Client Consultant is very important to gain their loyalty & trust. You don’t need to focus on achieving the sales targets only, winning in the market needs much more efforts in understanding the Organization’s core business & priorities and you need to be their trusted advisor and everything will follow.

I apply the Pareto principle in my account management activities. First, I conduct segmentation to identify the top 20% of clients generating 80% of my sales. Second, I tailor strategies for high-value accounts while ensuring that other accounts receive appropriate attention. Third, I engage proactively with clients to identify growth opportunities and prevent potential issues or missed opportunities. Finally, I regularly review account performance metrics and adjust strategies as needed to maintain a balanced approach.

Myth 2: You can rely on your existing relationships: Reality: Relationships and business needs evolve. Regularly reassess each client's situation and proactively address their changing needs. Don't assume familiarity guarantees satisfaction. Stay tuned to their priorities and adapt your approach.

Relationships are key in any Account management . Existing are most important & creating new is necessary . Anyone's role in a Account can change so one has to keep balance & ensure that key relationships are always maintained, nurtured & create referrals for other clients .

You must deliver effective and excellent service always. Treat all clients with same preference, identify needs based conversation and ensure the clients understands all details .

Absolutamente fundamental crear nuevas relaciones, pero es también muy importante de donde provienen esas nuevas relaciones. Según el comercial y el momento de su carrera en el que esta, y analizando su cartera, se tendrá que definir si las nuevas relaciones deben venir de prospecciones frías, referencias, etc.

In my experience, most sellers find just one champion and ride it out until they either get a sale or a no. If you understand that today it often takes 7-10 decision makers to gain agreement on your offering, you only have a fraction of the buy-in needed. Why wouldn’t you ask for an endorsement to meet some of them and build relationships there too? Insulate your work by adding more than one champion and be better for the customer you are trying to help.

Myth 3: You can use the same approach for every account: Reality: Each client is unique with different decision-makers, objectives, and communication styles. Tailor your approach based on their specific needs, preferences, and industry context. Personalization is key to building lasting bonds.

A personalização na abordagem tende a contribuir para construção de relacionamentos sólidos e duradouros. Ela te ajuda a entender as necessidades individuais de cada conta, tende a aumentar a satisfação do cliente, gera aumento na taxa de conversão, cria valor percebido, e uma grande diferença competitiva, o que vai te garantir uma maior taxa de retenção da sua carteira e deixar o atendimento mais eficiente. Resumindo, a personalização na abordagem aos clientes de carteira não apenas atende às expectativas do cliente, mas também cria um ambiente no qual os clientes se sentem valorizados e compreendidos.

In my experience I see that each customer has its own process, procedures, G&Os, culture and experience, and different people. Then you should know your customer first, then see what works for them and tailor your approach, communication for the different needs.

Entender que se pode usar a mesma abordagem para qualquer cliente é o mesmo que pensar em educar alunos diferentes com o mesmo método obtendo resultados iguais , ou tentar ensinar seus filhos usando o mesmo molde , ou tentar conquistar corações diferentes usando a mesma abordagem ! Cada cliente exige uma maneira diferente , pelo simples fato de sermos todos humanos , únicos em nossas diferenças e semelhanças. Cada um de nós é um mundo em si mesmo.

You can use the same framework but not the same approach. In AM, its easy to forget but being a human problem solver get you the golden ticket. If you can address their issues with understanding and use positive wording throughout your interactions. Do what you say your going to do and then solve the problem to the best of your ability then you'll win.

Myth 5: You don't need to learn new skills: Reality: The account management landscape constantly evolves. Stay updated on industry trends, technologies, and communication strategies. Invest in continuous learning to enhance your value proposition and remain competitive.

Continuous learning to enrich your knowledge and improve your skills is to support your account management & development. It helps yourself to make your communication relevant to your customers' agenda and industry trends.

É incrivelmente necessário entender que o mito da sabedoria absoluta é somente um mito. Nós, muitas vezes percebemos a necessidade de aprender quando achamos que já sabemos o suficiente. Mesmo anos de habilidades ou especializações no assunto precisam ser renovadas com novas aprendizagens Renovar, reclicar e aprender novos conhecimentos é sempre ideal e muito necessário

A fifth erroneous assumption in account management is the notion that one can depend on one's current skills, knowledge, and experience, and not need to update or upgrade them. This can result in being outmoded, irrelevant, and uncompetitive. Managers should continually seek to acquire new skills, and stay abreast of the latest trends, technologies, and innovations in their field and industry. They should also solicit feedback, coaching, and mentoring, and benefit from training, courses, and events. This can help account managers enhance their professional development, and career prospects. Therefore, account managers should adopt a proactive and continuous learning approach, and leverage the resources and opportunities available to them.

In addition to new skills, I found that activating existing skills is also important. For example, Leveraging role plays and practice to prepare for important customer calls.

Creo que hay cosas que se pueden medir y otras que no. De hecho, creo que la tendencia actual de intentar parametrizar todo, no es efectiva. Esperamos que el análisis de los KPI ‘s de la cuentas nos de la respuesta de qué pasa y cómo actuar. Pueden ser útiles pero hay una parte de instinto, de intuición, de conocimiento de la situación y del momento, que tiene tanto o más valor que los KPI’s. No creo que deban ignorarse, pero tampoco tomarlas como el único elemento a tener en cuenta. Saludos

Análises constantes permitem a identificação de tendências, ajustes de estratégia e a adaptação a mudanças, garantindo a eficácia e relevância das ações. O objetivo final ele deve ser sempre analisado para máxima performance dos números

Measure results, account management does not mean only managing relationships. One should always measure your account management results, and track the key indicators that align to your organizational goals, such as retention, revenue. You should also analyze your data, and use it to improve your account management strategy and skills.

Lo que no se mide no se puede controlar… Es vital tener un tablero de control que permita identificar todos los indicadores de gestión de cada cuenta o negocio Gracias

Incredibly important to measure the results (good or bad) of any actor initiative you take. Your customers are and you should be ahead of it, sharing the results and what e we I’ll come next. If it was successful, how can the initiative be enhanced, or incrementally added to. On the flip side, if unsuccessful, why and are there opportunities to course correct to be successful and/or learn from it to be successful next go around. Your internal and external customers will value your feedback

The proverb "no news is good news" does not work in Sales. When customers don't get a reply, no news leaves them to ponder or even conclude that you don't consider them important. Make it a habit of getting back, even if you don't have the full answer. In Sales, no news is always bad news.

Myth 2: You can rely on your existing relationships: Reality: Relationships and business needs evolve. Regularly reassess each client's situation and proactively address their changing needs. Don't assume familiarity guarantees satisfaction. Stay tuned to their priorities and adapt your approach.

You need to learn your accounts , know your contacts life outside. It’s not all business 24-7. Everyone has hobbies , sports involvement, family , it’s always great to know the other things. That make your buyer come back to you for everything!!! But why can’t I just get it from you?? I get that all the time !!

The biggest mistake salespeople make when dealing with ‘key accounts’, is to treat them as ‘safe’. They quickly forget that they are constantly being wooed by their competitors! As a key account manager your job is to create multiple contact points between your team and theirs. You need to use the ‘access’ you have as a supplier, to develop an ever deeper understanding of the client. The deeper your knowledge, the better your defences are! Too many clients are poached because the incumbent supplier has left huge gaps for others to walk right through! NEVER take an existing client for granted!

You are too much into key accounts that you don’t train and nurture new talents in developing long term relationship with your key accounts. From the management perspective it is important that they see it as not Xyz’s key account but just as an important client … else there could be a stagnancy in growing and or taking more responsibilities