What is Key Account Management (KAM)?
Customers are the lifelines for business. Among these, a specific category of clients or accounts consistently brings significant recurring business over the years. These high-worth clients are addressed as key accounts. Key Account Management aka KAM is a framework to build meaningful engagements with your key accounts to help you drive They are highly crucial for a company’s consistent profitable growth. It helps you maximize customer lifetime value, also referred to as LTV. Importance of Key Account Management in Sales Consistent growth in sales revenue is imperative for a business to succeed and function smoothly. This requires an effective sales strategy with a key account management methodology at the core. This sales process will help your sales team to monitor and develop long-lasting relationships with your key clients. When executed well, you will witness tremendous improvement in your sales as well as profitability. Why do you need a CRM for Key Account Management? Adopt