article thumbnail

Sales vs. Account Management: What Every Sales Leader Needs to Know

Brooks Group

Understanding the difference between landing new business and managing existing accounts is critical for your sales organizations success. On the surface, sales and account management have similar goals: Build strong relationships with customers and increase profitable revenue.

article thumbnail

9 Unexpected Reasons Why Key Account Management is Important

Account Manager Tips

Key account management is the secret to grow revenue and customer retention. Importance of key account management Existing business is cheaper and more profitable than new business. Account growth, renewals and advocacy are difficult for indirect suppliers because procurement focus on spend management. Pass it on.

article thumbnail

5 Obstacles to Successful Key Account Growth

Revegy

Your approach to managing and growing your most strategic accounts impacts your ability to optimize revenue. Why Focus on Key Accounts? Key Accounts are your most profitable, scalable, and tenured clients. Key accounts are hard to win, hard to retain and particularly challenging to grow.

article thumbnail

Account Growth Strategy: What it is and How to Use it

Arpedio

Understanding Account Growth Strategy In this section, we will take a closer look at the intricacies and purpose of account growth strategy. Understanding how to effectively implement this strategy is crucial for long-term success in maximizing your business growth and revenue.

article thumbnail

21 Free Courses for Key Account Managers to Boost Your Skills Now

Account Manager Tips

What qualifications do I need to be a key account manager? Key account manager attributes Key account managers are responsible for everything to do with the customer lifecycle. From service delivery to account growth, to customer retention, and everything between. Strategic Account Management.

article thumbnail

Rethinking Enablement for the Future: The Power of Commercial Effectiveness Integration

Mike Kunkle

The cross-functional alignment ensures every department synchronizes efforts to drive profitable growth. Data Points: According to a report by Bain & Company, increasing customer retention rates by 5% can increase profits by 25% to 95%.

article thumbnail

How to price to maximise profit, with Alfie Wenegieme

Account Management Skills

How agencies price to ensure a healthy profit margin 3. And some useful tips for account managers and project managers when scoping projects If you’re listening to this episode in February 2024, I’m opening enrolments again for my Account Accelerator programme that begins on March 5th.