Increasingly, the majority of business comes from a small number of big customers. Yet, many marketers take an unsophisticated approach to key account management. Here are five tips that can help identify where marketers are going wrong, and what they can do to dramatically improve their KAM efforts
As marketers, we are all familiar with key account management (KAM). It is the term that is reserved for only the largest and most important of clients or accounts; the ones that require the most attention.
Many agencies and marketing departments rely heavily on effective KAM, primarily because these are the customers that are spending the most money and allowing marketers to continue working in the way they do. Poor KAM could lead to losing these big players, which would consequently result in significant financial damage from which some might not be able to recover.