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Refining a Key Account
Management Program
Particularly for an MNC
| I have
been discussing development of a key account management
program, particularly for an MNC. In the first part,
I discussed what a firm should not do and what are the major
elements of a key account management program for an MNC.
Then I talked about a process that a firm can use to
develop a basic
framework for key account management followed by a
process for development
of a tactical program for key account management for
each domain. In this final part, I will discuss why
it is important that you continue to refine your program
on an ongoing basis. |
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How to make the program evolve?
No matter how large the organization and how good the knowledge management, each key account management has to be built from scratch since the combination of customers for each company provides a unique scenario. In other words, once a program is put into place, make sure that you incorporate a feedback loop that allows constant tweaking. The feedback loop, as shown in
the chart below, should consist of customers, account managers, and program supervisor. In its simplest form, the account managers seek feedback from the customers and assess their needs and communicate these to the program supervisor. The supervisor develops a repository of feedback, and by taking a best-practices approach, develops the next version. And the cycle continues.
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Conclusion
Key account management for MNCs is a field that is still evolving. While companies are relying on their past learnings from their home market, most companies are building their systems using a build-test-change models. There is no right or wrong model. Develop the one that works for you by using the framework and process (or a version of it) suggested here, but just do not stop there. Keep refining it till you get it right. |
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Questions,
comments, feedback, and suggestions
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