Account Management

a. Have a large number of clients

b. Have healthy business with selected clients

THE TWO APPROACHES

Advantages of a large number of clients

Advantages of a selected numberDisadvantages of the large number

Disadvantages of the selected number

The balance is somewhere in between

ON THE BALANCE

Strengthening your relationship

Using your credibility

Thinking on behalf of client

Better understanding of client need

Proactive approach

ADVANTAGES(Selected focused accounts)

ADVANTAGES(Selected focused accounts)

Time ultilisation

Ease of follow up

Depth of knowledge

Less room for competitors

TOM (top of mind)

TRANSACTIONS VS SALES

Apples and oranges ?

DIFFERENCE IN TRANSACTION AND SELLING

Selling the land on the Moon (Lunar Embassy)

Selling Eiffel Tower (Victor Lustig)

What would a salesman do for the above two ?

Who will be better off ?

Be a patient listener (no fast talking, that gets a con man his coups).

Never look bored (be genuinely interested)

Wait for the other to give political opinions, then agree.

Let them give person religious views, then have the same.

TEN COMMANDMENTS OF CON ARTISTS

Hint at dirty talk, let the other person show an interest.

Never discuss illness, unless some concern is shown.

Never pry into personal things -(they'll tell you eventually).

Never boast -Just let your importance be quietly obvious.

Never be untidy.

Never get drunk.(Don’t get cosy with them)

TEN COMMANDMENTS OF CON ARTISTS- Contd

TRANSACTIONS VS ACCOUNT MANAGEMENT

TRANSACTIONS ACCOUNT MANAGEMENT

Narrow focus on opportunities

Focus is shorter termBuyers are defensive and

secretiveNo long term

perspectiveGrowing my business

Creating value above specific opportunities

Value co-creation, customer satisfaction , operational and structural alignment

Buyers are open and trusting

Long term goals defined jointly

Growing his business

Client’s Single Point of Contact

Understand AccountStructureDecision makingProcessDynamicsBrands & productsSpend & budgets

THE MUST HAVE INFOOrganogram

Employee progress route

Buying and purchase patterns

Grouping in the corporate world

Products not yet launched

Understand BrandsPositioningPersonalityMarket shareBrand competitorsPLC

HISTORY AND GEOGRAPHYSales history of client

Geographic spread of his initiatives

Struggling brands

BCG analysis of his brands

Focus

ANALYSIS AS A COLLABORATORAcross category on competitors activity

Territory wise analysis on activity

News items on related fields

Government/International trends and news

New items developed by your team

BENDS ALONG THE ROADDeeper understanding of industry

Thinking ahead

Risks and opportunities

Road map for future needs of client

FOCUSEducate and add value

Collaborate and have mutual goals

Spend quality time

Understand needs

Foresee potential pitfalls

Solution selling

INTERNAL COORDINATION

Communications with internal players

Pick the brains of your internal team

You are the deliverer !

Track you order

Expectations from Account ManagerDevise a plan focusing on numbers and questions

Nurture relationships

Understand customer business problems

Educate customer with content

Get internal referrals – horizontal and vertical

Create mechanisms for delivery and support

Assist customer in budgetary planning

Introduce new products

Evaluating Accounts ManagersTotal Revenue

Share of business

Gross margin

Revenue growth in existing channels

Growth potential in new channels

Comparison with other accounts