Good key account management can benefit your company in enhanced profitability, customer lifetime value and customer trust. But many organizations make simple but costly mistakes in key account selection. In this article from research management platform Synap, software entrepreneur Jeremie Bacon explains how to select your key accounts: how to narrow the field, how to create a selection matrix and how to distinguish between two types of key accounts. Entrepreneurs, relationship managers and customer success professionals will appreciate Bacon’s clear, actionable tutorial.
In this summary, you will learn
- What qualities set apart the customers that merit “key account” status,
- How to create a selection matrix for key accounts, and
- Why key accounts come in two flavors – “strategic” and “core.”
About the Author
Technology executive Jeremie Bacon has co-founded multiple software companies and pioneered SaaS CRM and account management platforms for financial services firms, tech services companies and digital agencies.