Strategic Planning for Protecting and Growing Key Accounts
In most businesses, a small number of accounts generate most of a company’s revenue. Large Account Management ProcessSM (LAMP®) is a method for getting a commitment and increasing account specific turnover from these accounts. Methodology helps position company within the account and produce results that mean the most. It helps account team and sales management to manage strategic accounts profitably.
In LAMP workshop participants work with their own, real-world accounts to establish realistic revenue targets and devise detailed action plans for reaching goals. Methodology clarifies roles and responsibilities, ensures accountability, boosts collaboration and increases performance of the account team.
Planned collaboration managing complex and important accounts helps win customer commitment and future sales.
Typical challenges or problems that can be helped or solved:
- Growth of account revenue
- Loss of major sales opportunities within key accounts
- Weak commitment of key accounts
- Buying decisions of key accounts based more on price than value
- Weak return on resources allocated to key accounts
- Weak internal collaboration in managing key accounts
- Narrow contact within key accounts
- Weak contact to top management
- No knowledge of own position within the account and about the level of commitment of the account
Large Account Management ProcessSM (LAMP®) helps manage and grow strategic account by bringing the entire relationship into view.
This process creates and documents long term plans for managing key accounts and allocating resources effectively. Result is a mutually agreed 1-3 year plan to guide collaboration between the selling organization and customers organization.
LAMP® helps the sales organization to:
- Improve account profitability
- Collaborate across the enterprise to unlock the potential of strategic accounts
- Transition from vendor to trusted advisor status with strategic customers
- Ensure that relationships continue in strategic accounts regardless of manager or key sponsor turnover
- Achieve account growth objectives
- Avoid being surprised by the loss of key clients
Enables sales to:
- Analyze the current status of relationships to identify discrepancies and develop a shared vision and action plan with customers
- Set clearly defined sales and relationship goals with measurable results
- Align members of the selling team with their counterparts in customer organizations to improve communication and collaboration
Enables sales management and top management to:
- Document multi-year plans to manage key accounts. This allows information to be easily shared across account teams.
- Develop stronger and wider relationships within key accounts. This increases account retention and long term stability and growth.
- Allocate limited resources more effectively.
Who should attend?
Any member of the organization involved in account management. This includes sales and sales management as well as post-sales support such as customer service, logistics, and IT. Any department that will have an ongoing relationship with strategic accounts can help advance the customer relationship by implementing the Large Account Management Process (LAMP®).