Please note that due to a Non-Disclosure Agreement, we cannot name our client here.

Case Study: Pharmaceutical Company

We have recently delivered Key Account Management programmes to a pharmaceutical company.

In simple terms, Key Account Management is about developing and maintaining long-term relationships with important clients for who you offer a differential advantage over others.

Having considered the needs of the business, and their own internal culture, we opted for a hands-on, creative learning experience. There were no lengthy PowerPoint presentations. Instead, we chose to create an interactive, practical training programme. With this in mind, we built a plan around the following:
 

Targeting the Right Accounts

There is a resource cost with any client/business relationship. A crucial aspect of KAM is to ensure that we use resources on targeting the right customers. This module focuses on identifying the clients with which to foster the most mutually beneficial relationship. In general, these will be high-value accounts but not in every case. We must, therefore, focus on identifying the clients to target.
 

Account Mapping

We often centre our KAM programmes around consultative selling. We encourage our clients to sell solutions, and to sell solutions one must understand what issues need solving. Therefore, we aim to develop a culture where people listen to the client’s need and effectively communicate the solution to influence the key stakeholders.
 

Account Zipping

One of the primary reasons for implementing KAM programmes is due to the size of the customer. Therefore, we then must consider team selling and developing multi-level relationships with the client. Both sides of the relationship may have to deal with multiple people within the respective groups. It becomes vital that the team is on the same page, communicating efficiently and effectively with the client and with each other.
 

Key Account Planning

Key Account Planning is all about development – of both business and client. Here we look at setting strategic objectives, situational analysis, and importantly, developing a strategy that promotes the client. When you’re looking to maintain a long-term relationship with the client, it is vital to ensure that you work to maintain that relationship. Therefore, keeping on top of the clients’ situation, changing needs and future goals is key to being able to implement a strategy for your own business.
 

Outcomes

Although early days, the company has reported an immediate uptick in business/client engagement, along with added sales. There is still some work to be done in integrating KAM as a fundamental pillar of the company culture, but the company is already making great strides in becoming more efficient and profitable.

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