BUILD LOYALTY FROM KEY ACCOUNTS

Most companies generate a disproportionate percentage of their revenue from a select group of large customers, otherwise known as the 80-20 rule - 80% of your revenue comes from 20% of your customers.

These Key Accounts are critical to a business because they represent the biggest share of current revenue, the likely source of revenue growth through big deals, the typical early adopters of new products, and the best references. In addition, the very nature of their size makes them an active target for your competitors. Mishandling any one of these major customers can cause a major disruption in your revenue stream.

Leading sales companies develop key account programs to ensure that these customers receive special attention. When done properly, these key account programs create real business intimacy that benefits both the buyer and the seller. Important characteristics of key account programs include:

Customizing a strategy for each customer based on their uniqueness. Establishing an account plan that identifies sources of revenue, obstacles to success, and action plans to exceed your goals. Developing a relationship plan involving multiple layers of management from both companies. Ensuring that the salespeople assigned to these accounts have the skill, the business maturity and the political savvy to deal with complex issues and relationships. Mapping a coverage and resource strategy appropriate for the size and reach of the client. Developing unique sales and marketing programs aimed at driving big deals. Understanding how these major customers make purchasing decisions. Building a strategy to keep competition out of these accounts.

Crossland Partners has been selling to and managing key accounts for over 30 years. We have developed key account programs, and we can help you build or refine yours. A successful Key Account program will build tremendous customer loyalty and ensure that your biggest clients continue to be your best clients.