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Key accounts represent a major chunk of revenue and margin for most suppliers. Therefore, losing an important customer can have negative repercussions on organizational growth.
The significance of key accounts is urging top B2B companies to revisit their Key Account Management (KAM) approaches. Additionally, the increasing level of sophistication of the purchase process being adopted--such as, centralized procurement, competitive bidding and auctions, and laborious negotiations--by large buyers is a crucial element for B2B companies to consider to win large accounts.
Suppliers that face declining win rates and margins with key accounts often present fairly commoditized offerings and rely more on price to win large procurement opportunities.
This presentation deliberates on the 4 drivers of growth that the suppliers can utilize to develop best-in-class key Account Management practices and increase their large contract win ratios. These drivers are actually the 4 critical imperatives that leading organizations do to fuel their growth:
1. Quantified Value Proposition (QVP)
2. Value-based Selling
3. Coordinated Account Management
4. Negotiation Preparation
The slide deck also includes some slide templates for you to use in your own business presentations.