Typically, Key Account Managers (KAM) oversee the largest customers in a company whereas account managers are responsible for looking after the rest of the customers. Both the account managers and key account managers are part of the sales team and often works closely with the support and customer success team.
A successful Key Account Manager realizes the value of building and maintaining long-lasting relationships with existing customers. Being tuned into the high-revenue customers is based on being able to understand the customer’s point of view, and being successful means being able to find the balance between the customer’s wishes and your company’s objectives and directives.
- Managing and developing key accounts in a true partner model
- Designing and implementing longterm account plans
- Translating customer challenges
- Managing all stakeholders and their interests
- Responsibility for targets set on account level
Key account managers retain top customers and nurture those key relationships over time. Ideally, they become a strategic partner and advisor to their client(s), discovering new opportunities to work together for mutual benefit.