B2B Key Account Management
Why B2B Companies need to adopt KAM Technology?
ABOUT THE AUTHOR
Milind KattiIn this eBook,
Learn about the evolution of
Problems faced in the absence of
Why are B2B Companies Adding
KAM Tech to CRM?
Milind is CEO and Co-Founder of DemandFarm.
Having practiced and evolved the ‘Account
Farming’ principle for over a decade he
established DemandFarm and is passionate about
delivering the best B2B Key Account Management
technology to serve the needs of Key Account
Prior to this, Milind co-founded DemandShore and
built the process frameworks for Delivery and
Operations. Milind is an Electronics and
Communication Engineer with MBA in Marketing.
He is also an avid sports fan, voracious reader
and above all a humanist.
For B2B companies that rely heavily on
Key Accounts for revenue growth,
Key Account Management strategy
is undoubtedly indispensable.
The Case before
Some built customisation into their CRM
Some just used their standard CRM
Some hired expensive consultants to custom develop methodologies
to manage Key Accounts
Different companies managed Key Accounts in different ways.
What they forgot ?
CRM’s are for prospects, while KAM Tech is for existing Customers
While CRMs enable 'Customer Acquisition', adding KAM components
to your CRM will enable Key Account Management.
Managing ‘Opportunities’ is not same as managing Key Accounts.
And the problem arose
Large Key Accounts got treated as a bunch of regular accounts.
Couldn’t address the complexity and depth of analysis.
Spotting opportunities for growth and value creation
was lost for Key Accounts.
There was a need for not only specialised
KAM processes and methodologies,
There was a need for specialised
KAM Technology as well.
With the Evolution of KAM Technology
Leverage cloud technology that can adapt to any
Key Account Management (sales) methodology.
Account Managers can
Have all the Account Plan-related data in one place - no more data silos
in Excel/PPT/Word etc.
Build an ‘Account Landscape’ to identify the farming and mining
opportunities in existing Key Accounts.
Know every internal and external stakeholder and build relationships accordingly.
Why are B2B’s adding KAM Tech to CRM ?
Need for deeper analysis, better planning and reliable governance for Key Accounts.
Data and intelligence of Key Accounts is spread across the organization.
Dependency on individual KAMs - In case of separation, they loose all
the intel and sometimes the account.
Key account methodology/process is difficult to institutionalize across
organization without technology platform.
Over 20 years, company had grown to $500mn
organically & through acquisitions.
There were 2 CRMs, a finance software, a project
management software and other applications
carrying Key Account data.
They soon realised the importance of Key Account
growth, and wanted to consolidate data into a
DemandFarm was chosen as a single platform
for Key Accounts due to its ability to integrate
easily with other systems.
Accounts, Opportunities, Contacts, Engagements
& Account Financials are all managed in
DemandFarm and they are perfectly poised to
Key Account Management program.
Case of a Software Service Company
A unique Analytics company had tasted
tremendous success with first set of 10 global
companies. They followed a methodology to grow
each of these accounts to $5mn+ in revenue.
With a PE firm investing in them, they decided to
close 100 new accounts from Fortune 1000.
While winning POC was easy, further growth in
these 100 accounts, that too with new people was
DemandFarm replicated the frameworks used in
growing early accounts.
The buying centers, offerings, whitespaces (areas of
opportunity) were pre created based on account
industry, and past success.
Pitch/Solution were fed to the new account managers
through DemandFarm, and progress could be
monitored through ‘grandstand’.
60% of the new accounts acquired are on course to
achieve $5mn+ revenue.
The company continued to grow at 40% yearly in
spite of higher base.
Case of an Analytics Company
If you have Key Accounts,
do you have a choice to manage them
The luxury of having a choice in KAM Transformation is gone.
If you have Key Accounts,
you need to enable Key Account Management
with the right tools,
Get KAM Enabled
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