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We’ve consulted on over 20,000 negotiations in over 45 countries for 16 years. The most common issue we see is: “Very seasoned negotiators having a price conversation absent of the value conversation.” We think there are a few reasons: Account managers are still surprised at requests for discounts. What does this mean exactly?
Greater clarity on title and role within the formalized program often benefit all account managers; including the top achievers. Some organizations have also chosen the terms GAM (GlobalAccount Manager), and CAM (Corporate Account Manager). Facilitating, leading, managing and coaching the account team.
For Key Account Managers, although this representation is somewhat oversimplified, it is essentially about mastering the design and implementation of a relevant and impactful Key Account Plan and overcoming the challenges of implementation. These cover general business acumen as well as sales and negotiation skills and competencies.
We recently conducted negotiation coaching for over $1b in revenue on over 100 renewal opportunities for a global client of ours. We weren’t training their new reps, but working with some of their most seasoned globalaccount managers to help them be more strategic and successful. Minimizes deal margin.
Greater clarity on title and role within the formalized program often benefit all account managers; including the top achievers. Some organizations have also chosen the terms GAM (GlobalAccount Manager), and CAM (Corporate Account Manager). Facilitating, leading, managing and coaching the account team.
When assessing sellers, sales leaders instinctively want to give them a big goal to work toward, such as becoming a globalaccount manager, a mentor for new hires, the first one to sell new products or the first to break a record. Remember that Not Every Seller Can Be a Sales Leader. they convince clients to attend company events.
Contract Renewal Management The process of managing the renewal of contracts with key accounts involving negotiation, pricing, and value proposition analysis is known as Contract Renewal Management. The goal is to establish trust, drive sales, and help customers achieve their business objectives.
Their day-to-day activities may include conducting regular check-ins with key accounts, analyzing data to identify trends and opportunities, presenting product updates and new features, negotiating contracts and pricing, and ensuring that customer issues are resolved quickly and effectively.
In fact, we see purchasing departments at your strategic accounts using AI to make purchasing decisions, score vendor performance, and build predictive pricing models to apply in negotiations with you. When your purchasers are leveraging the latest technology and algorithms and you are not, you can see the importance of AI.
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