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Strategic Account Management

Strategic Account Management

Why Attend

This course is designed to transform participants into business advisors and high-yielding and profitable relationship managers whom clients rely on and companies value. The course provides a practical road map to understanding and growing existing and high-potential accounts. Participants will learn how to create account development plans, craft solid business relations with accounts, and harness retention strategies profitably. The course also provides a strong focus on quantitative approaches to account qualification and showcases best practices in service management necessary for growing and retaining strategic accounts. 

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Overview
Course Methodology

The course includes self-assessment tools, planning and analytical templates, and psychometric self-assessment instruments to measure personal abilities to accommodate different personality styles. Group exercises and case studies will also be integral parts of the training methodology used.

Course Objectives

By the end of the course, participants will be able to:

  • Define the functions and process of strategic account management while highlighting its importance for the commercial organization
  • Identify and prioritize strategic accounts to measure their profitability and qualify their strategic importance for their company
  • Classify the different levels of customer relationships to enhance the way they interface with such customers  
  • Develop customer-focused plans and strategies needed in the development of strategic accounts
  • Build core strategic account competencies related to research and service management to meet the ever-changing challenges in the market
Target Audience

This course is targeted at cross functional personnel who seek to understand modern customer management practices to improve cross functional support and develop personal careers in strategic account management. The program is also conceived for sales managers who oversee the development of key customers as well as key account managers responsible for managing the relationship and the performance with strategic customers.  

Target Competencies
  • Account planning
  • Networking skills
  • Cost to serve computations
  • Account classification models
  • Customer retention and loyalty
  • Customer research
  • Service management
  • Developing performance reports
Course Outline

 

  • Introduction to Strategic Account Management (SAM) 
    • The changing nature of sales force activity
    • Definition of strategic account management 
    • Differences between 'sales' and 'strategic account management'
    • Competencies of strategic account managers  
    • The strategic account management process 
  • Account Analysis: qualifying and profiling accounts
    • Account analysis insights
    • Account analysis methods:
      • The single-factor models
      • The portfolio models
    • Important criteria for determining account profitability:
      • Computing the cost per call
      • Break-even sales volume
    • Profiling the top 10 characteristics of your SA   
    • The strategic account identification and selection software: SAMS
      • Guidelines for using SAMS
      • Interpreting the SAMS report
  • Strategic account relational development model
    • Business partnership defined
    • The partnership skill set
    • The strategic account relational development model:
      • Pre-relationship stage
      • Early relationship stage
      • Mid-relationship stage
      • Partnership relationship stage
      • Synergetic relationship stage
    • Reasons for divesting partnerships
  • The strategic account planning process
    • Two layers of planning
    • Prioritizing efforts
    • Important business analysis:
      • Customer analysis
      • Past business analysis
      • Competition analysis
    • Identifying opportunities
      • SWOT analysis
    • Developing account strategy
      • TOWS analysis 
    • Monitoring account performance   
      • Aligning the account plan with KPIs and metrics
      • Using a balanced scorecard to monitor overall account performance
  • Account research and service management
    • Types of data needed to research accounts
    • Crafting questionnaires to identify account needs and expectations
    • The 'customer expectations benchmark' research
    • Reasons for integrating customer service in SAM
    • Harnessing actionable service leadership
    • The value of customer loyalty and Life Time Value (LTV)
    • A road map for building customer loyalty and retention
Associations
Associations
Institute of Sales Management (ISM)

Meirc is a recognized center and an endorsed training partner for the Institute of Sales Management (ISM*). This endorsement is a badge of recognition for the high quality sales and marketing training courses offered by Meirc Training & Consulting. Upon successfully completing any of these courses, participants will be awarded an ISM Certificate in addition to the certificate they receive from Meirc Training & Consulting.

*ISM is the UK’s largest professional body for salespeople and is the authoritative voice of selling and the custodian of sales standards, ethics and best practice. The core mission of the ISM is to promote standards of excellence in sales and sales management and enhance the prestige, integrity and profile of the sales profession as a whole and to inspire sales and marketing personnel to greater heights of achievement. ISM qualifications are vocationally-related, globally-recognized and are overseen by the UK government’s regulator Ofqual so you can be sure they meet the highest standards.

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Schedule & Fees
Virtual Learning

This course is also offered in Virtual Learning, click on the course below.

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