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5 Keys to Exceptional Account Management with Ed Powers and Kapta

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Learn from Key Account Management expert Ed Powers how to manage your most important customer relationships. Ed Powers is a global expert in customer success and customer relationship management.

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5 Keys to Exceptional Account Management with Ed Powers and Kapta

  1. 1. KEYS TO EXCEPTIONAL ACCOUNT MANAGEMENT WITH ED POWERS5 Who is Ed Powers? Having led account management and operations teams at a variety of companies—from start-ups to large-scale enterprises—Ed Powers has over 25 years of experience reducing customer turnover and creating high-performing organizations. The pioneering mind behind “Mindful” Customer Experience Management, Ed uses the latest breakthroughs in neuroscience to help his clients solve customer problems, deliver better value, and create stronger relationships. The result? World-class customer retention and unparalleled brand loyalty. kapta.com Ed Powers: Customer Success Industry Leader ed@se-oartners.com Account Management isn’t an important part of business. It’s an indispensable one. Talented Account Managers mitigate churn, maximize spends, and keep clients smiling all the way to the next contract. Unfortunately, not all AM’s were created equal. The difference between an average and outstanding Account Manager is the difference between a floundering and flourishing client relationship. To help make sure you’re an Account Manager of the latter variety, here are 5 Keys to Exceptional Account Management as described by industry leader Ed Powers.
  2. 2. 1 You’re a Key Account Manager, not a walking, talking product catalogue. Your job is to be a relationship builder. A partner in crime. Someone who can not only help the client complete campaign “X” from start to finish, but provide a solution to problem “Y”—a problem the client hasn’t even discovered yet. Where Vendors merely recite inventory and list an associated price, Strategic Suppliers listen, engage in conversation, and the provide comprehensive solutions, not just products. “DON’T BE A ‘VENDOR’ --- BE A ‘STRATEGIC SUPPLIER’”
  3. 3. Your process needs to be perfect, plain and simple. What is a perfect process?—one that employs active listening to arrive at the root of client concerns. Exceptional Account Managers are master listeners, constantly keeping their ears to the ground in an effort to deliver better value for, and build a better relationship with, the customer. Part of being a master listener is knowing how to ask questions. Nothing neuters a relationship faster than Yes/No questions because they lead to Yes/No answers — answers that offer no opportunity for connection. While average Account Managers fail to ask the thoughtful, open-ended question, exceptional Account Managers use their active listening skills to craft intelligent questions that explore the client’s position and get to the heart of their issue(s). 2 “CONNECT WITH YOUR CLIENT. DON’T LEAVE IT TO ‘YES’ AND ‘NO’”
  4. 4. The use of words like cultivate, nurture, fertile, in the previous section wasn’t without purpose. Whereas salespeople (Hunters) think only of securing the individual client kill, Account Managers (Farmers) are patient, adaptable, and vested in the kind of long term growth that culminates in a bountiful harvest. See the big picture with each of your clients. Don’t dwell on monthly, or quarterly returns. Learn to look at each client through an annual lens. The seed may be small and pitiful now, but with strategic sowing and careful cultivation it could become the most fruitful crop in your portfolio. 3 “THE HUNTER VERSUS THE FARMER” kapta.com
  5. 5. It’s easy to talk to clients when the news is good, but when it’s bad?—not so much. Transparency is at the heart of any healthy relationship and exceptional Account Managers don’t mask the truth. They provide their clients with complete access to campaign details—positive or negative—at all times. Success in Account Management means providing your clients with access to the details – positive or negative – at all times. Avoid any unnecessary subjectivity and keep the conversation as objective and fact-centric as possible. 4 “SHOW IT ALL AS AN OPEN BOOK”
  6. 6. kapta.com Being an open book is an important element in the formula for client trust, but truthfulness alone is not enough. Winning complete trust and securing a healthy client relationship requires three additional components: • Ability—you must demonstrate your skill The client is entrusting you with campaigns, goals, and thousands of dollars. It’s a scary proposition if your competence is in question. You’ll only get one chance to make a good impression so demonstrate deftness on Day 1. • Benevolence—it’s not about you Astute Account Managers know that it’s not about them, it’s about the client. Conveying compassion, care, and consideration is an integral part of the job. The more an Account Manager can meet the client on their level—understanding their concerns and needs—the more comfortable the client will feel. • Integrity—stay true to your word Ultimately, if you promise the client something, be it a campaign result or weekly phone call, you have GOT to deliver. In the game of Account Management, your word is your bond—break it once and you’ll might survive, but break it twice and that client relationship will be tarnished forever. 5 “TRUTH VERSUS TRUST”
  7. 7. Becoming an exceptional Account Manager isn’t for the faint of heart—it requires intelligence, patience, and the ability to connect with customer on a personal level—but it can be learned. With time and practice coupled with the right tools, like Kapta, upgrading your Account Management caliber from average to outstanding is easier than you might think. Kapta is a Key Account Management (KAM) platform engineered to empower AM’s who want to over-deliver on expectations, maintain vital accounts, and grow revenue all the way through the final day of the quarter. By building unbreakable bonds between Key Account Managers and their most-valued clients, Kapta helps businesses create constant growth within the pipeline. To learn more about Kapta, Ed Powers, or intelligent Account Management, please contact us at info@kapta.com.

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