You can then cross-sell or up-sell with your skills, or develop a completely new product that caters to your client’s needs. Read them. • SAMs will develop new processes and skill sets that will make the future one of leadership, rather than of management. Strong analytical skills with a focus on account development. LinkedIn is a great tool to support this activity. here. While many traditional SAM traits will remain, the overarching trajectory will see SAMs having to become even more strategic than they are currently. Strategic Account Manager I Resume Objective : An innovative strategic sales and marketing professional with a proven ability to meet and exceed goals through sophisticated sales, marketing, analytical strategies and business development skills necessary in driving results. An analysis is required at every step to take key decisions for real customer success. Maintaining transparency within the business ecosystem and coordinating with C-suite executives requires excellent communication skills. Proven account management skills required to create and enhance long term customer relationships. SAMA’s Certified Strategic Account Manager (CSAM) certification is the gold standard of strategic account management. These managers act as a bridge between the company and stakeholders at the customer side. Based on the analysis you can better decide your action plan for your strategic account management. The first two episodes of the SAMA podcast address exactly this topic. In case it wasn’t obvious before, it should be now: The world is changing, and the SAM role is changing alongside it. Ultimately, you should be responsible for achieving sales quota and strategic account targets. SAMs can use. 2. A Skilled account manager uses the best practices and strategies to plan and create the account mana… Promoted from Business Development Manager role to Strategic Account Management in 2008; Demonstrated superior account management skills and implemented and executed strategic plans. Their duties include expanding client database, maintaining a positive relation with existing clients, attaining assigned quotas, and ensuring customer satisfaction. Communication. Part 2: The Strategic Customer-Centric Organization. You can always make use of the relationship that you’ve built to get insights about the problems your client is facing. Episode #2 Still trying to predict what coronavirus will mean for your business? Even the best maps…are reductions of what they... Circle of competence. Avoid the impulse to speculate. One of the primary goals of key account management is to nurture strategic... 3. Strategic account managers should be both analytical and personable. As a company, you might have different kinds of offerings and your customers have various buying centers spread across departments, locations, etc. Managers save time by reducing repetitive tasks, and focus on generating consistent, and stable revenue that will help in long-term growth and success for your company. Find out what else you should be focused on during these unprecedented times, according to one of the smartest strategists working in sales excellence. His/her job description entails helping clients get top class services and maximum benefits from their investments in … As companies look to respond Competency 1.0 – Understanding organizational priorities, Competency 2.0 – Strategic account & opportunity planning, Competency 3.0 – Joint solution development, co-creation & reaching agreement, Competency 4.0 – Multifunctional account team leadership, Competency 5.0 – Overall relationship & outcome management, " deals exclusively with the skills and traits needed to be an amazing strategic account manager. Straight from the managers themselves and their organizations, of course! It’s an extremely important exercise to improve your communication strategy to maximize ROI. Most of the organizations have existing account managers who have skills and are either been trained or are naturally talented in the art of Strategic Account Management platform. Strategic Account Managers acts as a liaison between an organization and its clients. with your skills, or develop a completely new product that caters to your client’s needs. They have to explain (by both speaking and writing) the steps employees need to take to achieve company goals. They are the contact people for the Strategic Accounts and are responsible for developing and maintaining a long-term relationship with the key customer. Working with these companies may boost your credibility and reputation, but unless these accounts are profitable enough, and you have a good relationship with the stakeholders, it would be wrong to classify them as Strategic Accounts. While there exist some important Easier said than done. Also, get the analysis of Customer Spend vs Wallet share. In this excerpt from “Customer Value Co-Creation,” Francis Gouilliart makes five predictions for the future of SAM. • SAMs will develop new processes and skill sets that will make the future one of. Don’t get bogged down in jargon. In order to build the strongest possible relationships with their key accounts, KAMs must become more than just an account manager; they need to become a strategic partner. Where did we get this top secret information? There are so many moving parts and people involved in a strategic account, that its success is impossible without clear communication. Customer Value Co-Creation Skills: • Communication & influence skills • Value co-creation • Negotiation skills Competency 4.0 – Multifunctional account team leadershipActivities: • Ability to create a team vision and strategy for effective account plan development and execution • Build and align the account team to the customer’s key functions and requirements, jointly developing team goals and KPIs • Establish trust, motivate and coach team members through regular communications • Input information on account data, activities and best practices • Structure role and deployment of internal executive sponsor/s for account team goals and customer relationship objectives. Here are some key questions that need to be answered at this stage: What is the hierarchy in your key account organization? Also, implied in the word "driving" is a connotation of proactivity. Here are some key questions that need to be answered at this stage: Firstly capture all the meetings between the client stakeholders and the account team. To obtain a position as a Strategic Account Manager where I can utilize my skills and knowledge in increasing the market share of the organization. strategic thinking abilities, interpersonal skills and more have Your job description will be more persuasive if you show as well as tell. An account manager specializing in key accounts is required to work on various activities like account segmentation that is to understand the relationship health of the key accounts and avoid any setbacks. The skills and attributes stated above can also be used in the skills section of the strategic account manager resume. The future of SAM In case it wasn’t obvious before, it should be now: The world is changing, and the SAM role is changing alongside it. As companies look to respond Or, you can opt for the most viable solution by investing in a. , that not only provides visibility into your account plan but also helps to manage and grow your strategic accounts with minimum effort and training. The idea is to increase customer lifecycle value by starting small like with a free trial or test project, adding value, and building trust. Easier said than done. What if the SAM leaves, and you’ll be left with no choice. Strategic Account Manager Job Description Writing Do’s and Don’ts Do include rich-media content such as videos, articles and images. Listening. The practical manifestations of becoming more strategic will take three distinct shapes: • SAMs will take alignment to the next level by becoming. Learn more He has to lead from the front, take risks and create a win-win for both sides. Read it, From strategic account management to strategic ecosystem leadership. • Strategic account management will be liberated from the shackles of the seller-buyer dynamic by transforming from account management to ecosystem or stakeholder management. The best strategic and key account managers outperform average ones by a factor of 3X. It is recognized and demanded by organizations worldwide. If you want to drive the greatest account growth, make sure you develop your team’s project manager, innovator and results driver competencies. Much of it will depend on the value your own customers can create using your products and services. You can have multiple types of relationships with clients, and they can be either Tactical, Cooperative, Interdependent or Strategic. Strategic perspective. Communication Skills: There are so many moving parts and people involved in a strategic … The SAMA PodcastIf anything, your customers expect more from you than ever. is on the rise. Without a strategic account management plan, you approach your customer relationships without a checklist of bases to cover or things to address. You can only value when you are technically equipped with skills pertaining to your offerings. Sometimes they get lucky and hit it, but most times they miss the mark”. These behaviors are quite different from a hunter’s; hunters often have an “eat what you kill” mentality. Post-secondary degree in a related field or equivalent experience. Also quantify the relationship health of your key accounts with an account health score, so that you can focus your energies on growing the right accounts. We believe the effectiveness of the strategic account management plan depends upon selecting the account managers with key skills and following the best strategic account management process discussed below. identify the strengths and weaknesses of your competitors. What is the influence people have on each other? argue that the skills and competencies of strategic account managers As the liaison for the customer and the rest of the company,... 2. Strategic account management (also known as Key Account Management) is a process of building value-driven strategic relationships with your key customers that can help in long-term development and retention, thereby maximizing the revenue potential. As the next step, the strategic accounts identified in step one should be mapped out with their buying vs your offerings and you should ask these key questions: Your Strategic Accounts are at a huge risk if your SAM is the single point of contact and owns all the relationships in the account. As a Strategic account manager, you will represent our company and interact with major clients. and professional, it has brought into focus the incredibly valuable They need to build rapport with customers, think strategically about partnership opportunities and solutions, collaborate and communicate with high-level stakeholders and decision-makers, and lead a cross-functional team. Never has there been a better opening for SAM programs and strategic account managers to take on a bigger role in securing the future of their organizations. Key Skills of a Strategic account manager 1. He goes on to list five of his favorite: The map is not the territory. SAMA welcomes you to Account management skills for sales: How to create growth and retain your most important customers, a fully virtual training program that equips the new-to-role account manager and/or sales professional to:. Competency 1.0 – Understanding organizational priorities here. Exceptional customer service and interpersonal skills. The practical manifestations of becoming more strategic will take three distinct shapes: • SAMs will take alignment to the next level by becoming drivers of strategic development cross-functionally and inter-organizationally. Strategic account management (also known as, We believe the effectiveness of the strategic account management plan depends upon selecting the account managers with key skills and following the best. differences in the implementation of strategic account management Reported to NATS Account Management Leader and managed two administrative assistants. That is the reason, why managing Strategic Accounts is not every account manager’s cup of tea. With SaaS technology companies on the rise the strategy of. The strategic account manager’s role is to identify those key customers that generate maximum revenue and profitability as compared to other regular accounts. Activities: • Ability to create a team vision and strategy for effective account plan development and execution. Let’s take a good look at the 7 Big strategic account planning challenges faced while creation. No doubt, it is difficult to stick to the Strategic Account Management best practices, considering the complexities of these accounts. While coronavirus has upended most aspects of daily life, both personal Investing in a KAM software will help your. Strategic Account Managers are usually responsible for maintaining relationships with current clients, as well as finding opportunities for expanding client database. You can use a simple weighted attribute method to arrive at one of the four. As with just about everything in business and sales, when you have a plan in place, you can stay organized more easily while ensuring that no projects, customers, or clients are neglected. skills inherent to the SAM/KAM role. Who are your Champions, Promotors, Distractors and so on? There are a number of initiatives in terms of processes, and technologies available to assist you, but not everything is as successful as having a Key Account Management software. Once again he uses ‘SAM’ as its anchor term, but GAMs, KAMs and account managers will all recognise their role in this discussion. SAMs can use org chart software to determine the hierarchy of the account and communicate accordingly with different levels. However, there are some big differences between the principles of a Strategic Account Manager and traditional account manager in many organizations. Under each competency is a short list of the key behaviors, actions, and/or activities most relevant to that skill. Develop selection criteria for key accounts Strategic Account Manager plays a key role in a company using SAM processes and techniques. Going hand in hand with the previous skills, your key account managers need to approach every customer relationship with a collaborative and strategic mindset. skills inherent to the SAM/KAM role. The SAMA Best-in-Class SAM Competency Model identifies five areas of job competence or capability as well as the three or four primary skills associated most strongly with each one. SAMA's Harvey Dunham interviews Whetstone Inc. President & CEO Adrian Davis in episode 2 of the SAMA Podcast. “The map of reality is not reality. It’s important to identify the strengths and weaknesses of your competitors. Top 6 key account management skills 1. The most successful example resumes for Strategic Account Managers emphasize leadership, strategic planning, analytical thinking, excellent communication and … that is to understand the relationship health of the key accounts and avoid any setbacks. SAM planning works largely the same way. of its relationships with its most important customers, we would Once the managers start practicing the account plans, they realize the real-world problems or rather, challenges that they must face while creating strategic account plans. The average salary for a Strategic Account Manager with Business Development skills is $80,545. Core strengths: Possess six years of professional experience in account management Possess excellent interpersonal and communication skills Flexibility with strong knowledge in financial domain It’s important for strategic account managers to subordinate a desire for a quick win for long term success. It’s important to add value at the right time and the right place to win big deals. Episode #1 What’s the single most important piece of advice for account managers guiding their customers through crises, like our current one? and " deals exclusively with the skills and traits needed to be an amazing strategic account manager. We train and certify SAMs, KAMs and GAMs to develop the skills they need to co-create sustainable, long-term value with and for their strategic customers. Leadership Skills: A strategic account manager is a bridge between the sales team, a team of account managers and... 2. LinkedIn is a great tool to support this activity. Category: Strategic account manager skills and competencies The skills, competencies and behaviors that enable the strategic account manager to successfully develop and sustain mutually profitable, long-term strategic customer relationships. Whether we should focus on Farming or Mining growth? The idea is to start small like a free trial, have a foot in the door with the key accounts and expand your network within the account across departments. A large part of a strategic planner’s job is communicating a business plan to employers and employees. The strategic account manager is required by an organization to expand and adequately maintain good business relationship between the organization and its large number of customers. Skills: • Customer orientation • Company knowledge • Industry knowledge • Customer knowledge Competency 2.0 – Strategic account & opportunity planningActivities: • Ability to incorporate business intelligence and determine a go-to-market strategy through internal planning sessions • Define and manage the solution development process, develop a differentiated value proposition and value the ROI for both the customer and the company • Manage funnel of short- and mid-term opportunities and pre-formulate specific project management requirements • Provide for post-deployment customer support and evaluation • Engage the customer in the planning process. An account manager specializing in key accounts is required to work on various activities like. The most successful strategic account managers are also skilled at relating to the needs of a wide range of individuals in the account and building consensus among them. Also it gives you year wise verdict whether you are in super touch or you need to work more on the volume of meetings. You can always make use of the relationship that you’ve built to get insights about the problems your client is facing. From strategic account management to strategic ecosystem leadershipNever has there been a better opening for SAM programs and strategic account managers to take on a bigger role in securing the future of their organizations. But as Greg Lowe points out “Most Account Managers don’t listen long enough to get a complete grasp of the situation before starting to spew their solutions. No doubt, it is difficult to stick to the Strategic Account Management best practices, considering the complexities of these accounts. With so much of a company’s future value tied up with the health 1. Key account management requires handling the accounts of priority customers who are a long-term asset to your company. Listen here. The Strategic Account Management Association, The eternal tug-of-war between short-term and long-term, Having access to an effective strategic planning tool, Having a good relationship with all key customers (other than that one key customer) within each Strategic Account, Interacting with enterprise-level organizations and key buyers at the top level, The actual implementation of the Strategic Account Plans, Formulating a fair and comprehensive compensation policy for Strategic Account Managers, Training and skills in strategic account management. This meeting matrix gives you visibility on when to plan for a communication strategy for the account. If it is really impacting your revenue number and profitability, that account is likely to qualify as a Key Account. One of the most important aspects of Strategic Account Management and leadership is to always look for new opportunities to help grow your client’s business. In this excerpt from “Customer Value Co-Creation,” Francis Gouilliart makes five predictions for the future of SAM. Strong Microsoft Excel skills. It’s important for strategic account managers to subordinate a desire for a quick win for long term success. If you are connected to your SAM and your SAM is connected to contacts in the account, you will have visibility into these contacts and the ability to link with them. When you do, you’ll create compelling strategic account plans and use those plans as guides to execute and drive results with hustle, passion, intensity and accountability. So says SAMA’s Chris Jensen, who on 9/11 was a DHL sector head responsible for his company’s relationship with two of its most strategic accounts. With SaaS technology companies on the rise the strategy of land and expand is on the rise. Part 1: The SAM Process You may need to pass a job test to be hired for a position, improve your chances of making high scores today! There are so many moving parts and people involved in a strategic account, that its success is impossible without clear communication. Company and customer expertise. If you can be a source of stability on the one hand and bold ideas on the other, you will earn yourself a lifetime of customer loyalty. The strategic account managers (SAMs) that grow accounts do so because they drive value for buyers. If you are connected to your SAM and your SAM is connected to contacts in the account, you will have visibility into these contacts and the ability to link with them. While many traditional SAM traits will remain, the overarching trajectory will see SAMs having to become even more strategic than they are currently. In case you missed it, check out • Build and align the account team to the customer’s key functions and requirements, jointly developing team goals and KPIs. You can then. Also, get the analysis of Customer Spend vs Wallet share. While coronavirus has upended most aspects of daily life, both personal That is why you need to have an account plan, in order to help you identify the right people and strengthen the relationship where it matters the most. The Strategic Account Management Association (SAMA) exposes companies around the globe to tools, methods and processes that enable them to forge closer relationships with their most strategic customers and co-create new sources of sustainable, customer-driven growth. Utilizes innovative solutions for conducting initial client interviews, maintaining communication with all customer contacts and developing new solutions when sales agreements are up for renewal. to determine the hierarchy of the account and communicate accordingly with different levels. Read them Below the competencies, you can find links to an excerpt from the SAMA book, “Customer Value Co-Creation,” as well as to relevant blog posts, podcasts and more for a deeper dive into the skills that make a great strategic account manager. This account management methodology provides a road map for strategic customer relationships that have growth potential through the development of a one to three-year plan … and professional, it has brought into focus the incredibly valuable become invaluable assets. Skills: • Corporate customer relationships • Process discipline • Business outcomes. Strategic account managers also demonstrate the following qualifications and skills: Account management – successful strategic account managers have an extensive amount of account management experience. There are a number of initiatives in terms of processes, and technologies available to assist you, but not everything is as successful as having a Key Account Management software. However, identifying, cultivating, and maintaining those long-term relationships requires specific skills and a thorough knowledge of … Or, you can opt for the most viable solution by investing in a Key Account Management software, that not only provides visibility into your account plan but also helps to manage and grow your strategic accounts with minimum effort and training. • Establish trust, motivate and … Our methodology for sales account management reveals how to best manage and grow strategic accounts by bringing the entire relationship into view.. “If you know what you understand, you know where you have an edge over others. and pivot, suddenly the SAM’s deep customer and industry knowledge, Elevate engagement and grow business with important customers An account manager has to be a good listener, able to understand the needs and desires of the people across the team. Strategic account management skills are a key part of being successful at managing and growing an organisation's largest and most profitable accounts. This means that projects and tasks can easily become forgotten and get pushed to the side, while customers and partners are left fe… Part 3 of the SAMA book " About Our Sales Account Management Methodology. So, if you have excellent communication skills with a customer service attitude, we would like to meet you. Skills: • Interpersonal relationship skills • Team leadership • Cultural knowledge and sensitivity Competency 5.0 – Overall relationship & outcome managementActivities: • Requires accountability for the sustained health and improvement of the overall customer relationship through regular business reviews against the performance dashboard and customer communications • Maintains and augments role as a trusted thought leader in individual customer relationships and owns the customer satisfaction/loyalty metrics • Maintains the internal network of relationships and aligns the internal and external commitments leading to execution of company and customer requirements and the achievement of desired business outcomes.
strategic account manager skills
by | Dec 4, 2020 | Uncategorized