Although many companies believe that having more and more customer is essential for increasing the revenue; It is also practiced in many companies that having a targeted approach to the highest potential customer is the way to go. Having Key Account Management not only helps get you more revenue but it also helps in achieving your objectives in a more strategic way.
What are Key Accounts?
Key accounts are nothing but the customer, who you may feel can generate extremely high revenue for your company. Few also call it as the Wish List or the High Value Customers. These key accounts can also be looked at as one's fortune cookie.
Why Key Account Based Approach?
Taking key account approach can help you set your revenue goals pretty easily. Research has shown that having x amount of revenue from one customer acquisition is much more simpler and requires lesser cost, than having the same x amount of revenue from n number of different client's put together.
How to crack key accounts?
The very first step starts from identifying the highest potential customers for your business. Next action is about the research on these companies obtaining the information such as their current solution provider, their pain points, their improvement areas, their expenditure trends, their budget for such investments, finding the decision makers etc. Based on these inputs, you can form a strategy as to how you can be of help to them & whom should be the person you need to talk to in those accounts. Simply starting with an introduction conversation or an introductory email you can first start building a relation with the decision makers. This introduction may be without an intention to sell to them however it should be related to helping in their pain points as obtained before. Once a communication is established, try to set an appointment with them for a longer period of time where you may talk about your offerings.
How can we help?
We at ThinEdge Marketing are experts in obtaining the minimal information necessary to crack a key account through our B2B Database Mining & Research program. We then help you get the communication started with the decision maker followed by setting up an appointment with the intention to sell to them. We may help you speed track the process of acquiring high value customers by actually introducing you to their decision makers.
We hope this article helps you in creating your Sales & Marketing Strategy. Feel free to contact us for getting more information about the same.