What is key account management

Key account management (KAM) is the process of planning and managing a mutually beneficial partnership between an organization and its most important customers. Key accounts are significant to an organization's sustainable, long-term growth and require a substantial investment of both time and resources.

What is meant by key accounts?

Key accounts are a category of business accounts that a supplier company manages, which generate substantial profits for the supplier company through years of repeat business. Key accounts are different from global accounts and regular customer accounts.

What is the difference between account management and Key Account Management?

Typically, Key Account Managers (KAM) oversee the largest customers in your company whereas account managers are responsible for looking after the rest of your customers. Both the account managers and key account managers are a part of the sales team and often works closely with the support and customer success team.

How do you identify Key Account Management?

Key Account Managers have a difficult job. They're inundated with contacts, contracts, and more. They're under pressure to please both their clients and their C-suite.