Key Accounts Manager
In simple words, Key Accounts Managers are responsible for managing key accounts by maintaining their relationships with strategically-important customers, and thus producing measurable business benefits. The idea of having Key Accounts Managers is to focus on growing and developing existing clients (usually large and important clients), together with generating new business. They are often seen as a successor or savior of the sales force in an environment where traditional sales are being enriched by key accounts management that brings about organizational change.Key account managers differ from sales managers in being well versed in financial management, product development, supply chain and logistics and are equipped with specific skills pertinent to the industry. They must be experts in negotiation and presentation. Their role varies with organization with regard to seniority, responsibility and authority. They play a strategic role based on time, resources and money available to achieve the desired company objectives.If you find yourself good at managing and developing relationships, have the desired interpersonal and influencing skills and are a natural problem solver, this career may be the right fit for you.The role of a Key Accounts Manager in most large organizations is as below:
- Develop and manage client/ customer relationships
- Effective on boarding of new clients
- Identify new sales opportunities and achieve sales targets
- Prepare and deliver effective sales presentations
- Communicate at all levels and bridge necessary gaps
- Develop timely and accurate business forecasts, plans and strategies
- Review and revise strategies at regular intervals
Salaries and Job Outlook*
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Key Accounts managers play a key role in companies large and small ranging from manufacturers and service providers, healthcare and information technology and assist them in reaching goals and objectives related to sales, relationship management, productivity, profitability and industry penetration.Key Accounts Managers enjoy a high earning potential and salaries are proportionate to responsibilities and authority given by the employer. The average salary of a Key Accounts Manager is in the range of INR 5.5 lacs p.a to 6.0 lacs p.a. He is also entitled to incentives and other financial rewards that vary with organizations.
Education and Training
The minimum qualification for a Key Accounts manager is a Bachelor's degree in any stream. However some employers may prefer a bachelor's degree in business administration, sales management, marketing, or advertising to best match their industry requirements. Earning an MBA degree is an added advantage and enhances career progression.A prior experience of sales or account management is a pre requisite among certain industries and employers.
Valued Traits & Abilities
Increasing business complexity and the pace of changes in global markets have led to increased hiring of Key Accounts Managers across industries in order to keep their competitive edge and maintain healthy customer relationship. Key accounts managers find work opportunities among a vast range of employers such as Service providers, financial services, healthcare, technology and manufacturing companies.Most Key Account Managers begin their career in Sales and gradually develop account management skills. The scope for career advancements is also substantial as one can grow up to assume higher responsibilities as National Account Managers or Global Account Managers.
National Account Manager
They are accountable for national accounts and are responsible to maintain and expand relationships with large, multi-location customers and clients. He reports to the vice president of the organization and establishes professional and productive relationships to meet assigned targets.
Global Account Manager
They focus on international trends and market demands and uses strategies to maximize profit across international markets. They are generally employed with experience of minimum five years under them or with an adequate exposure to global markets.
Strategic Account Manager
They are responsible for driving and designing efforts to find solutions for the company in alignment with business objectives. This may include change of processes, policies or better technology. They maintain and expand the customer base by implementing innovative business strategies.
- Reliance Communications ltd
- Ericsson India Global Services
- Bharti Airtel Ltd
- Dr Reddys Laboratories
- Idea Cellular Ltd
- Getit Infoservices Pvt ltd
- Asahi India Glass Ltd
- Sodexo food Solutions India Pvt ltd.