2. Congratulations, you are appointed as the account executive for a key
account of HUNT. Key accounts are selected out of the total list of HUNT
accounts.
HUNT believes that these accounts have the (strategic) fit with HUNT and will
bring now or in the future more profitable revenue.
Account executive means that you have a new role next to to your regular job.
In practice it means that you are coordinating all internal and external
activities concerning this key account.
The aim of this key account management survival kit is to present you an
overview of things to do in your new role.
What are you going to do in your new job?
- organize the account and coordinate the relation with the account
- set up the strategy for the account
Organizing the account
Tot organize the key-account an account team is set up, which consist of
max. 4 persons that also have an important stake at the key account. Also
part of the more operational work can be delegated to members of the
account team.
To create an overview of the contacts between HUNT and key account it is
necessary to develop the relations matrix (format, see In-Touch best practices
and formats) and after it is set up to answer the question do we have the right
relations with this key account and how are we going to manage the relation?
Set up the strategy for the account
Before you and your account team are able to develop a strategy for the key
account it is necessary to create an overview on the following subjects:
- business review: how much (profitable) revenue did HUNT earn at
this key account the last three years? Source: financial
administration of HUNT
- Business analysis: what is going on in the business of the key
account and in the market of his key account? Source: Internet,
annual review, newspapers, journals etc. (format see In-Touch best
practices and formats)
Both business analysis and review give an overview of the customer and what
is going on. The business analysis can be done by a student.
After finalizing the business analysis and review the account team can start
developing a gold sheet (format see In Touch) and set up the strategy for the
key account.
If HUNT decides to use the Miller Heiman methodology for key account
management at this moment a Gold sheet will be developed by the account
team. It (normally) takes a number of meetings to set up the strategy,
3. because when formulating the strategy in most cases information is missing
and someone needs to find that information.
When the strategy is finalized it is necessary to first internal discuss the
proposed strategy, before discussing it with the customer.
After the discussion with the customer on the strategy and reaching
agreement on the role and the opportunities HUNT starts working on.
To summarize: the following steps should be taken by the account executive
to become successful.
•Step 1: HUNT selects key account (and B- and C accounts), based on
segmentation criteria
•Step 2: Account Executive (AE) is appointed: briefing of account executive
on his role and tasks, targets. (AE survival kit)
•Step 3: AE selects and organizes his account team. Kick off meeting where
necessary appointments are made. Is cross training necessary?
•Step 4: start with the ‘preparation of the account’: getting an overview:
business analysis, set up relation matrix and analyse, overview of strategy of
customer and what is going on in the market of the customer. Analyze
sources, interviews (internal/external)
•Step 5: set up strategy and define role HUNT wants to play. (Gold sheet).
Also including training in account management method
–List of opportunities, necessary actions, information that is missing etc.
–Targets, including cross selling targets
–Develop the right relation(s) with customer
•Step 6: account plan ready for internal evaluation with HUNT management
•Step 7: discuss strategy with customer and reach agreement on role Hunt
and opportunities
•Step 8: follow up actions, work out opportunities (Blue sheet) and score
orders
•Step 9: evaluate internally and with customer
(In between step 5 and 6 the concept gold sheet should be discussed with the
strategic coach to check)
