What does a Key Account Manager do?
Published 4 min read
A key account manager (KAM) is responsible for developing and maintaining relationships with the most important clients of a company. The goal is to ensure that these clients remain satisfied and loyal to the company. To do this, key account managers must be able to understand the needs and wants of each client and find ways to address them. They must also be able to negotiate on behalf of their company in order to get the best possible deals for their clients.
Key Account Manager job duties include:
- Develop and execute account plans to grow key accounts
- Achieve quarterly and annual sales targets for key accounts
- Develop strong relationships with key decision makers and influencers within assigned accounts
- Understand customer needs and requirements and align solutions accordingly
- Stay up to date on industry trends and developments affecting key accounts
- Proactively identify opportunities for account growth and new business development
- Prepare account-specific sales proposals, presentations, and other collateral materials
- Negotiate pricing and contract terms with customers
- Manage customer expectations throughout the sales cycle
Key Account Manager Job Requirements
There is no one specific path to becoming a key account manager, but most likely it will involve several years of experience working in sales or account management for a company. Many key account managers have a bachelor's degree, although it is not always required. Some companies may require certification in sales or account management. Key account managers must have excellent communication and interpersonal skills, as they will be working closely with both customers and internal teams. They must be able to manage multiple projects at once and be able to think strategically about how to grow their accounts.
Key Account Manager Skills
- Communication
- Negotiation
- Presentation
- Time Management
- Organization
- Strategic Thinking
- Relationship Building
- Client Management
- Sales
- Business Development
- Market Analysis
Related: Top Key Account Manager Skills: Definition and Examples
How to become a Key Account Manager
A key account manager (KAM) is responsible for developing and maintaining relationships with the organization’s most important clients. The goal is to ensure that these clients are satisfied with the products or services they receive and to increase the level of business they do with the company.
The most important skills for a key account manager are strong communication and interpersonal skills. They must be able to build rapport with clients, understand their needs, and effectively communicate the company’s offerings. They also need to be able to negotiate and close deals.
Education requirements for this position vary depending on the industry, but a bachelor’s degree is typically preferred. Many key account managers have previous experience working in sales or customer service.
If you are interested in becoming a key account manager, start by developing strong communication and interpersonal skills. Consider pursuing a bachelor’s degree, although it is not always required. Previous experience working in sales or customer service can also be helpful.
Related: Key Account Manager Resume Example
Related: Key Account Manager Interview Questions (With Example Answers)