It is estimated to be 7x easier to sell to an existing account than it is to open a new account.
A company’s customers are their most critical asset and planning for their success is critical. Revenue concentration, whereby a small number of accounts contribute the majority of the revenue, is the norm in today’s marketplace. These key account revenue streams need to be defended and expanded. sales geographies, other companies, even other industries.
Key Account Planning is focused on determining an account’s attractiveness score, performing an account opportunity assessment, recruiting the identified customers into a key account program, and growing the revenue, profits, and satisfaction levels with this set of customers.
Key Account Programs Produce the following Benefits:
- Higher customer loyalty
- An increase in revenue from key accounts
- Lower customer churn
- Better product mix
Sales Benchmark Index
Sales Benchmark Index is a professional services firm differentiated through its use of empirical data, a repository of over 11,000 companies across 19 industries, 12 years of history and over 300 sales metrics. Our clients that achieve World Class status outperform the market 7:1 after making the important sales decisions on key performance drivers. We are pragmatic and open-minded that is why we find solutions others miss.
Start applying proven Key Account Management methodologies at your organization. Download a key account management best practice guide by completing the form.
