Written by

Frank Aneke

Brief Overview: Research has shown that 80% of each business key account revenue comes from 20% of the entire accounts. Thus, the Key Account Manager (KAM) who manages this 20 % of the accounts plays a significant role in the ongoing success of the business.

In view of the above, the primary responsibility of a high-performing Key Account Manager is to build long-term relationships with valuable accounts and turn them into business partners. Furthermore, KAMs are expected to retain high-value customers by the nurturing relationships and providing dedicated resources, unique offers, and periodic meetings. 

In the concluding part of this two-part series, below are the remaining five unique traits of a high-performing Key Account Manager:

1. Market Expertise: A high-performing Key Account Manager understands the challenges and opportunities in the industry of each major account. Having knowledge of each client’s market and their competition landscape helps grow and retain the account’s long-term. The acquired market knowledge also enables a better decision-making process when unexpected challenges spring up in any of the account’s market.

2. Proactive Approach: A resourceful Key Account Manager proactively gathers intelligence and insights from clients on how the promised service or products are being delivered. With such proactive initiatives, KAMs can detect breaches in service delivery or product fitment before it becomes an issue. So being proactive enables high-performing Key Account Managers to put out sparks of fires before they turn into infernos that could consume the relationship.

3. Creative Negotiators: Having honed negotiation skills and self-confidence are among the principal traits of a successful Key Account Manager. Considering that the ultimate goal of a great KAM is to develop relationships and offer premium services or products to their clients, it is imperative for a Key Account Manager to have the capacity to tactfully negotiate and close deals that benefit both parties from time to time.

4. Relationship Savvy: High-performing Key Account Managers understand that nurturing mutually beneficial relationships with relevant stakeholders in each account is the key to success. So, adequate maintenance of these connections within each key account guarantees the highest quality selling relationship that is underpinned by impeccable delivery of products or services as promised to the client.

5. Appetite for Learning: Bearing in mind that markets, industries, and trends constantly change, high-performing Key Account Managers are always open to ideas of training and development to keep up with these changes as they occur. KAMs appetite for learning creates more trust and respect from others who see they are consistently improving their abilities. Successful KAMs are lifelong learners who look for opportunities to improve in areas they have identified as necessary.

In view of the above, if you are seeking to acquire a top-tier Key Account Manager for your business, FieldWork Recruiting is here to help. We specialise in the recruitment of Account Management and Business Development talents within Australia.  With our dedicated research team and head-hunting strategies, we can find you great talent within your industry.

We equally offer bonus employer brand management consultation to our new clients. Just reach-out to our friendly team on 1300 375 910 or better still, email me directly.

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In the next edition, I will be asking the question: Do You Know the Approximate Cost of Un-filled Vacancies in Your Sales Team? Watch this space!!