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KeyAccountManagement (KAM) – Research companies, use KAM technology and maintain momentum. KeyAccountManagement (KAM) – Research companies Larger firms may have access to research and knowledge specialists. How should firms identify their strategic accounts? Why do law firms needs SAM?
Every month I share a selection of popular titles to help with your professional development as a keyaccountmanager. Here are the book recommendations for November 2022. Keyaccountmanagers rely on influence to get things done. Listen to this article. Table of Contents. Why this book?
B2B Book Club Selection (July 2022) A monthly selection of handpicked business books specifically to help keyaccountmanagers get better results for their clients, companies and careers. We read the winner and each week a summary and companion podcast explore the key themes and big ideas. Table of Contents.
Amongst the delegates were business development executives and managers with responsibility for between three and five clients as part of their firm’s Key Client Programme (KCP) or KeyAccountManagement (KAM).
I invited him once to facilitate a junior professionals’ networking event for an accountancy practice – where he talked about one of his other books “All you need to know about the City” (latest version updated in 2022). And the important distinction between cash and profits is highlighted.
Our target markets span large and small businesses; private, public sector and not for profit sectors; centralised and decentralised buying processes; procurement and user-led purchasing behaviour. Essentially a focus on the most profitable clients. So targeting is often more important and more challenging.
There are many reasons why referrer management strategies are important for the marketing and business development of professional service firms. Research indicates that most firms generate 80% of their fees and profits from 20% of their clients. Do you have a KeyAccountManagement (KAM) programme at your firm?
The crux of marketing is to anticipate (and meet) client needs whilst maximising profit. Price is a major driver of profit. Differential pricing is rarely discussed in professional services although it is often implicit in keyaccountmanagement. So marketing is reliant on research and financial knowledge.
Delegates included both partners and business development professionals (some with a banking background) from law firms (employment, criminal, disputes, offshore), accountancy practices (audit, forensic, insolvency and restructuring and financial services. Some looked to LinkedIn’s Sales Navigator to drive data and process.
One way is to embed the right cross-selling and referrer management attitudes and behaviours into other programmes – for example, into campaigns, content management, networking and KeyAccountManagement (KAM). Another cultural shift. Internal communication – Why, how and what (kimtasso.com).
There were also variations on factors such as financial (it’s easy to measure revenue and profit) and others such as market positioning, longevity, reliability/security and prestige. Half the delegates had a KAM (KeyAccountManagement) programme at their firm.
Leadership and the In-Group/Out-Group Phenomenon (blanchard.com) Create a sense of unity by reminding people we are on the same team and all striving for the same results (happy clients and increased profits). A similar approach would be to unite people behind the need to focus on client interests and overcoming competitor activity.
I originally posted it as a LinkedIn Article in August of 2020 and unfortunately, find it relevant again already in mid-2022. I hope this will contained to not-yet-profitable, seed-funded early-stage companies with burn-rate/runway issues, but as the recession gears up, it may spread. This is a post I never wanted to write.
A well-implemented CRM system can help companies build long-term, profitable customer relationships and provide intensive customer care. Such software supports profitable growth. Price Management – Dynamic Pricing Pricing and terms and conditions are critical to a company’s success.
A well-implemented CRM system can help companies build long-term, profitable customer relationships and provide intensive customer care. Such software supports profitable growth. Price Management – Dynamic Pricing Pricing and terms and conditions are critical to a company’s success.
Now, when setting goals, it is important that priority has to be given to the goals that are most profitable to the account. These decisions should also be made using the account data, and the most valuable, meaningful ones should be made. Most of the core concepts discussed in the book are still relevant in 2022.
The MBL workshop on Referrer and Intermediary Management earlier this week combined those in front-line fee-earning roles (e.g. employment and family solicitors) with those from marketing and business development in legal, tax, wealth management and property firms. Recent articles on referrer management.
Topics include: Professional and Practical skills for Marketing & BD Assistants, The Proactive Marketing Executive and Future Marketing Manager. Training for lawyers, accountants, surveyors and consultants I create and deliver a wide range of training workshops for fee-earning staff.
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