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The strategic account management process is about building value-driven relationships with your key customers. It is a synonym of Key Account Management. The strategic account managerʼs role is to identify those key customers that generate maximum revenue and profitability as compared to other regular accounts.

Strategic account managers are responsible for developing and maintaining relationships with key clients. They work closely with these clients to understand their needs and objectives and then develop customised solutions that address these needs.

The main differences between account management and key account management can be summarized as follows: Number of Accounts Managed: Account managers typically handle a large number of accounts, while KAMs focus on a smaller number of high-value clients.

Developing an Effective Key Account Management Process Step 1: Building a Framework for KAM Using the 3R Model. Step 2: Identifying Key Accounts. Step 3: Developing Tailored Strategies and Systems. Step 4: Implementing a Dual-Focused Strategy for KAM and RevM. Step 5: Evaluation, Monitoring, and Control.

5 best practices for developing an account management strategy Identify key accounts. Ideally, you should implement strategic account management for every client account your company has. Select account managers. Research clients. Develop personalized recommendations. Create a communication schedule. Track your results.

Itʼs common for a Key Account Manager to become a Director Of Business Development, Business Development Manager, Operations Manager, Salesperson, Vice President of Sales, Business Manager, Territory Sales Manager or Market Manager.